Mill Creek Capital Advisors LLC Sells 122 Shares of SBA Communications Co. (NASDAQ:SBAC)

Mill Creek Capital Advisors LLC reduced its stake in SBA Communications Co. (NASDAQ:SBAC) by 5.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,091 shares of the technology company’s stock after selling 122 shares during the period. Mill Creek Capital Advisors LLC’s holdings in SBA Communications were worth $503,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new stake in SBA Communications during the third quarter valued at $26,000. Capital Performance Advisors LLP bought a new stake in SBA Communications during the third quarter valued at $35,000. Ridgewood Investments LLC bought a new stake in SBA Communications during the second quarter valued at $32,000. Family Firm Inc. bought a new stake in SBA Communications during the second quarter valued at $36,000. Finally, Friedenthal Financial bought a new stake in SBA Communications during the third quarter valued at $50,000. 97.35% of the stock is owned by institutional investors.

SBA Communications Trading Up 1.2 %

SBAC opened at $221.09 on Monday. The company has a market cap of $23.77 billion, a P/E ratio of 34.87, a P/E/G ratio of 0.75 and a beta of 0.68. The business’s 50-day moving average price is $236.35 and its 200-day moving average price is $216.56. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.77). The company had revenue of $667.60 million during the quarter, compared to analysts’ expectations of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.34 EPS. Equities research analysts forecast that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be paid a $0.98 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.92 annualized dividend and a dividend yield of 1.77%. SBA Communications’s payout ratio is presently 61.83%.

Analyst Upgrades and Downgrades

SBAC has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Barclays lifted their price objective on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. KeyCorp raised their price target on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada raised their price target on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.23.

Insider Buying and Selling

In related news, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. This trade represents a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. The trade was a 23.08 % decrease in their ownership of the stock. 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.