SBA Communications Co. (NASDAQ:SBAC) SVP Sells $5,396,436.00 in Stock

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.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, August 28th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Tuesday, August 27th.

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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