SBA Communications Corp. (NASDAQ:SBAC) Director Duncan Cocroft bought 500 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was purchased at an average cost of $109.14 per share, for a total transaction of $54,570.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of SBA Communications Corp. (NASDAQ:SBAC) opened at 110.34 on Tuesday. SBA Communications Corp. has a 12-month low of $82.80 and a 12-month high of $121.45. The firm has a 50-day moving average price of $113.80 and a 200-day moving average price of $105.52. The firm’s market cap is $13.75 billion.

SBA Communications Corp. (NASDAQ:SBAC) last posted its earnings results on Thursday, July 28th. The company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.12. The firm had revenue of $405.50 million for the quarter, compared to analyst estimates of $403.37 million. SBA Communications Corp. had a negative return on equity of 3.93% and a negative net margin of 2.41%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 earnings per share. Equities research analysts anticipate that SBA Communications Corp. will post $0.94 EPS for the current year.

Several research analysts have weighed in on the company. Jefferies Group reaffirmed a “buy” rating on shares of SBA Communications Corp. in a research report on Saturday, August 6th. Zacks Investment Research raised SBA Communications Corp. from a “hold” rating to a “buy” rating and set a $127.00 target price on the stock in a research report on Friday, July 15th. Citigroup Inc. reaffirmed a “buy” rating and issued a $132.00 target price (up from $112.00) on shares of SBA Communications Corp. in a research report on Monday, July 11th. BTIG Research reaffirmed a “buy” rating and issued a $142.00 target price (up from $135.00) on shares of SBA Communications Corp. in a research report on Tuesday, July 19th. Finally, Pacific Crest reaffirmed a “hold” rating on shares of SBA Communications Corp. in a research report on Friday, July 29th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. SBA Communications Corp. has an average rating of “Buy” and an average price target of $124.27.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sachem Head Capital Management LP acquired a new position in SBA Communications Corp. during the first quarter valued at $144,746,000. Massachusetts Financial Services Co. MA raised its position in SBA Communications Corp. by 88.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,479,251 shares of the company’s stock valued at $267,611,000 after buying an additional 1,160,641 shares in the last quarter. FMR LLC raised its position in SBA Communications Corp. by 40.7% in the second quarter. FMR LLC now owns 2,884,446 shares of the company’s stock valued at $311,347,000 after buying an additional 833,990 shares in the last quarter. Principal Financial Group Inc. raised its position in SBA Communications Corp. by 13.7% in the second quarter. Principal Financial Group Inc. now owns 5,186,970 shares of the company’s stock valued at $559,881,000 after buying an additional 624,846 shares in the last quarter. Finally, Norges Bank acquired a new position in SBA Communications Corp. during the fourth quarter valued at $49,182,000. Hedge funds and other institutional investors own 95.57% of the company’s stock.

About SBA Communications Corp.

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.

5 Day Chart for NASDAQ:SBAC

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