SBA Communications Co. (NASDAQ:SBAC) SVP Brian D. Lazarus sold 20,676 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $261.00, for a total value of $5,396,436.00. Following the transaction, the senior vice president 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 is available at the SEC website.
Shares of SBA Communications stock opened at $260.53 on Friday. The business has a 50-day moving average of $243.03 and a 200 day moving average of $212.52. SBA Communications Co. has a 12 month low of $146.13 and a 12 month high of $263.04. The stock has a market capitalization of $29.44 billion, a price-to-earnings ratio of 34.28, a price-to-earnings-growth ratio of 3.33 and a beta of 0.69.
SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, July 29th. The technology company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $1.86 by ($1.58). SBA Communications had a net margin of 6.75% and a negative return on equity of 4.12%. The firm had revenue of $500.10 million for the quarter, compared to analysts’ expectations of $489.09 million. During the same quarter last year, the business earned ($0.50) earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. Equities research analysts anticipate that SBA Communications Co. will post 7.83 EPS for the current year.
A number of institutional investors have recently made changes to their positions in SBAC. Advisory Services Network LLC boosted its holdings in SBA Communications by 65.4% during the 2nd 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 during the period. Redhawk Wealth Advisors Inc. purchased a new position in SBA Communications during the 2nd quarter valued at about $29,000. Certified Advisory Corp purchased a new position in SBA Communications during the 2nd quarter valued at about $31,000. Berman Capital Advisors LLC boosted its holdings in SBA Communications by 103.9% during the 2nd 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 during the period. Finally, Next Capital Management LLC purchased a new position in SBA Communications during the 2nd quarter valued at about $43,000. Institutional investors own 93.54% of the company’s stock.
SBAC has been the subject of a number of research analyst reports. BidaskClub upgraded SBA Communications from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 9th. TheStreet upgraded SBA Communications from a “c” rating to a “b-” rating in a report on Monday, July 29th. SunTrust Banks increased their price target on SBA Communications to $255.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. ValuEngine upgraded SBA Communications from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. cut SBA Communications from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $220.00 to $270.00 in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $230.85.
SBA Communications Company Profile
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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