Los Angeles Capital Management LLC Reduces Holdings in SBA Communications Co. (NASDAQ:SBAC)

Los Angeles Capital Management LLC lowered its position in SBA Communications Co. (NASDAQ:SBAC) by 34.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 93,542 shares of the technology company’s stock after selling 48,415 shares during the period. Los Angeles Capital Management LLC’s holdings in SBA Communications were worth $18,362,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Advisor OS LLC raised its position in SBA Communications by 3.0% in the 2nd quarter. Advisor OS LLC now owns 12,461 shares of the technology company’s stock worth $2,446,000 after purchasing an additional 364 shares during the period. Savant Capital LLC raised its holdings in shares of SBA Communications by 235.4% in the second quarter. Savant Capital LLC now owns 9,768 shares of the technology company’s stock worth $1,918,000 after buying an additional 6,856 shares during the period. Sustainable Insight Capital Management LLC lifted its stake in shares of SBA Communications by 24.8% during the 2nd quarter. Sustainable Insight Capital Management LLC now owns 1,300 shares of the technology company’s stock worth $255,000 after acquiring an additional 258 shares during the last quarter. Candriam S.C.A. boosted its holdings in SBA Communications by 27.0% during the 2nd quarter. Candriam S.C.A. now owns 10,999 shares of the technology company’s stock valued at $2,159,000 after acquiring an additional 2,341 shares during the period. Finally, New York Life Investment Management LLC boosted its holdings in SBA Communications by 6.1% during the 2nd quarter. New York Life Investment Management LLC now owns 49,200 shares of the technology company’s stock valued at $9,658,000 after acquiring an additional 2,808 shares during the period. Institutional investors own 97.35% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SBAC. Wells Fargo & Company downgraded SBA Communications from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $230.00 to $220.00 in a research report on Monday, July 15th. Barclays decreased their price objective on shares of SBA Communications from $240.00 to $236.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. BMO Capital Markets decreased their price target on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Finally, The Goldman Sachs Group began coverage on SBA Communications in a research note on Monday, July 1st. They issued a “neutral” rating and a $212.00 price objective on the stock. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $237.92.

SBA Communications Trading Up 2.2 %

Shares of NASDAQ SBAC opened at $238.51 on Friday. The stock has a market capitalization of $25.63 billion, a PE ratio of 46.77, a price-to-earnings-growth ratio of 0.72 and a beta of 0.67. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The stock’s fifty day simple moving average is $215.05 and its two-hundred day simple moving average is $206.97.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.56). The company had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $665.21 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. SBA Communications’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.24 EPS. On average, equities analysts predict that SBA Communications Co. will post 12.53 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd will be given a dividend of $0.98 per share. The ex-dividend date is Thursday, August 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 1.64%. SBA Communications’s payout ratio is 76.86%.

Insider Buying and Selling at SBA Communications

In related news, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the transaction, the chairman now directly owns 109,583 shares in the company, valued at approximately $24,328,521.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Chairman Jeffrey Stoops sold 49,765 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total value of $11,048,327.65. Following the completion of the transaction, the chairman now directly owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the sale, the director now directly owns 8,084 shares in the company, valued at approximately $1,775,084.72. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

SBA Communications Company Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.