Insider Selling: SBA Communications Co. (NASDAQ:SBAC) Director Sells 620 Shares of Stock
SBA Communications Co. (NASDAQ:SBAC) Director George R. Krouse, Jr. sold 620 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $258.26, for a total value of $160,121.20. Following the sale, the director now owns 10,000 shares of the company’s stock, valued at $2,582,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
NASDAQ SBAC traded up $0.44 on Friday, reaching $260.29. 1,251,800 shares of the company were exchanged, compared to its average volume of 594,287. The business’s fifty day moving average price is $238.98 and its 200 day moving average price is $210.58. The stock has a market capitalization of $28.81 billion, a P/E ratio of 34.25, a price-to-earnings-growth ratio of 3.25 and a beta of 0.69. SBA Communications Co. has a fifty-two week low of $146.13 and a fifty-two week high of $261.73.
SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, July 29th. The technology company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.86 by ($1.58). The company had revenue of $500.10 million for the quarter, compared to analyst estimates of $489.09 million. SBA Communications had a negative return on equity of 4.12% and a net margin of 6.75%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm posted ($0.50) EPS. Research analysts anticipate that SBA Communications Co. will post 7.83 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SBAC. Advisory Services Network LLC lifted its stake in shares of SBA Communications by 65.4% in the 2nd quarter. Advisory Services Network LLC now owns 129 shares of the technology company’s stock valued at $29,000 after purchasing an additional 51 shares during the last quarter. Redhawk Wealth Advisors Inc. acquired a new position in shares of SBA Communications in the 2nd quarter valued at $29,000. Certified Advisory Corp acquired a new position in shares of SBA Communications in the 2nd quarter valued at $31,000. Berman Capital Advisors LLC lifted its stake in shares of SBA Communications by 103.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 155 shares of the technology company’s stock valued at $34,000 after purchasing an additional 79 shares during the last quarter. Finally, Next Capital Management LLC acquired a new position in shares of SBA Communications in the 2nd quarter valued at $43,000. 94.07% of the stock is currently owned by institutional investors.
Several analysts recently commented on SBAC shares. New Street Research cut SBA Communications from a “buy” rating to a “neutral” rating and set a $236.00 price target for the company. in a research report on Thursday, June 13th. Bank of America reiterated a “neutral” rating and set a $260.00 price target (up from $245.00) on shares of SBA Communications in a research report on Wednesday. Moffett Nathanson reiterated a “neutral” rating and set a $246.00 price target on shares of SBA Communications in a research report on Monday, July 8th. KeyCorp boosted their price target on SBA Communications from $252.00 to $259.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Finally, SunTrust Banks boosted their price target on SBA Communications to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $228.31.
About SBA Communications
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By Building Better Wireless, SBA generates revenue from two primary businesses site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.
Featured Article: What Are Treasury Bonds?
Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.