SBA Communications Co. (NASDAQ:SBAC) CAO Brian D. Lazarus sold 1,466 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $261.00, for a total value of $382,626.00. Following the sale, the chief accounting officer now owns 17,829 shares of the company’s stock, valued at $4,653,369. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of NASDAQ SBAC opened at $260.53 on Friday. SBA Communications Co. has a 12-month low of $146.13 and a 12-month high of $263.04. The company has a market cap of $29.44 billion, a P/E ratio of 34.28, a P/E/G ratio of 3.33 and a beta of 0.69. The stock has a fifty day moving average price of $243.03 and a 200 day moving average price of $212.52.
SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, July 29th. The technology company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $1.86 by ($1.58). The business had revenue of $500.10 million for the quarter, compared to analyst estimates of $489.09 million. SBA Communications had a net margin of 6.75% and a negative return on equity of 4.12%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.50) earnings per share. As a group, equities analysts predict that SBA Communications Co. will post 7.83 earnings per share for the current fiscal year.
Several brokerages recently issued reports on SBAC. ValuEngine upgraded SBA Communications from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. Raymond James downgraded SBA Communications from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. They noted that the move was a valuation call. New Street Research downgraded SBA Communications from a “buy” rating to a “neutral” rating and set a $236.00 price target for the company. in a report on Thursday, June 13th. KeyCorp increased their price target on SBA Communications from $259.00 to $292.00 and gave the company an “overweight” rating in a report on Monday. Finally, SunTrust Banks increased their price target on SBA Communications to $255.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $230.85.
Institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC grew its stake in shares of SBA Communications by 65.4% during the second quarter. Advisory Services Network LLC now owns 129 shares of the technology company’s stock valued at $29,000 after acquiring an additional 51 shares in the last quarter. Redhawk Wealth Advisors Inc. acquired a new stake in shares of SBA Communications during the second quarter valued at about $29,000. Certified Advisory Corp acquired a new stake in shares of SBA Communications during the second quarter valued at about $31,000. Berman Capital Advisors LLC grew its stake in shares of SBA Communications by 103.9% during the second quarter. Berman Capital Advisors LLC now owns 155 shares of the technology company’s stock valued at $34,000 after acquiring an additional 79 shares in the last quarter. Finally, Next Capital Management LLC acquired a new stake in shares of SBA Communications during the second quarter valued at about $43,000. Institutional investors own 93.54% of the company’s stock.
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.
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