SBA Communications Co. (NASDAQ:SBAC – Get Rating) EVP Mark R. Ciarfella sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $338.05, for a total value of $338,050.00. Following the sale, the executive vice president now owns 23,884 shares in the company, valued at approximately $8,073,986.20. The sale was disclosed in a filing with the SEC, which is available through this link.
SBA Communications stock traded down $4.19 during mid-day trading on Thursday, hitting $333.65. The stock had a trading volume of 590,257 shares, compared to its average volume of 729,833. The firm has a market capitalization of $35.98 billion, a P/E ratio of 85.31 and a beta of 0.41. The firm’s 50 day moving average is $344.93 and its 200 day moving average is $339.44. SBA Communications Co. has a one year low of $286.41 and a one year high of $391.15.
SBA Communications (NASDAQ:SBAC – Get Rating) last issued its earnings results on Monday, April 25th. The technology company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.72. The company had revenue of $619.77 million during the quarter, compared to the consensus estimate of $603.91 million. SBA Communications had a net margin of 18.40% and a negative return on equity of 8.54%. SBA Communications’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.58 EPS. On average, research analysts predict that SBA Communications Co. will post 11.09 earnings per share for the current year.
A number of research firms recently weighed in on SBAC. Morgan Stanley dropped their price target on SBA Communications from $412.00 to $389.00 and set an “overweight” rating on the stock in a research note on Tuesday. Barclays increased their price objective on SBA Communications from $378.00 to $385.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 26th. KeyCorp raised their price target on SBA Communications from $384.00 to $393.00 and gave the company an “overweight” rating in a research report on Tuesday, April 26th. Royal Bank of Canada decreased their price objective on SBA Communications from $380.00 to $370.00 and set an “outperform” rating on the stock in a report on Monday, March 7th. Finally, Moffett Nathanson cut SBA Communications from a “buy” rating to a “neutral” rating and cut their target price for the stock from $393.00 to $380.00 in a research note on Monday, April 11th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $391.13.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nissay Asset Management Corp Japan ADV boosted its stake in shares of SBA Communications by 2.8% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 11,149 shares of the technology company’s stock valued at $4,337,000 after purchasing an additional 303 shares in the last quarter. Gilbert & Cook Inc. boosted its stake in SBA Communications by 1.9% in the fourth quarter. Gilbert & Cook Inc. now owns 2,753 shares of the technology company’s stock valued at $1,071,000 after acquiring an additional 52 shares in the last quarter. Yousif Capital Management LLC acquired a new stake in SBA Communications in the fourth quarter valued at approximately $7,539,000. Orion Portfolio Solutions LLC acquired a new stake in SBA Communications in the fourth quarter valued at approximately $249,000. Finally, Commonwealth Equity Services LLC boosted its stake in SBA Communications by 72.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,286 shares of the technology company’s stock valued at $4,001,000 after acquiring an additional 4,315 shares in the last quarter. Hedge funds and other institutional investors own 95.41% of the company’s stock.
SBA Communications Company Profile (Get Rating)
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.
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