SBA Communications Co. (NASDAQ:SBAC) CFO Brendan Thomas Cavanagh sold 54,411 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $268.07, for a total value of $14,585,956.77. Following the completion of the sale, the chief financial officer now directly owns 98,751 shares in the company, valued at $26,472,180.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of NASDAQ:SBAC traded down $0.82 on Friday, hitting $262.38. The company’s stock had a trading volume of 288,540 shares, compared to its average volume of 635,269. SBA Communications Co. has a 12 month low of $146.13 and a 12 month high of $270.42. The company has a market capitalization of $30.46 billion, a price-to-earnings ratio of 34.52, a price-to-earnings-growth ratio of 3.46 and a beta of 0.67. The stock’s 50-day moving average is $252.00 and its two-hundred day moving average is $218.48.
SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, July 29th. The technology company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.86 by ($1.58). SBA Communications had a negative return on equity of 4.12% and a net margin of 6.75%. The business had revenue of $500.10 million during the quarter, compared to the consensus estimate of $489.09 million. During the same period in the previous year, the company posted ($0.50) EPS. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities research analysts expect that SBA Communications Co. will post 7.78 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the company. FDx Advisors Inc. grew its stake in shares of SBA Communications by 24.6% in the second quarter. FDx Advisors Inc. now owns 4,969 shares of the technology company’s stock worth $1,117,000 after purchasing an additional 982 shares in the last quarter. Allstate Corp boosted its stake in SBA Communications by 4.1% during the first quarter. Allstate Corp now owns 3,393 shares of the technology company’s stock valued at $677,000 after buying an additional 135 shares in the last quarter. TCW Group Inc. boosted its stake in SBA Communications by 6.0% during the first quarter. TCW Group Inc. now owns 19,745 shares of the technology company’s stock valued at $3,943,000 after buying an additional 1,113 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in SBA Communications by 6.6% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 46,762 shares of the technology company’s stock valued at $10,514,000 after buying an additional 2,900 shares in the last quarter. Finally, Swiss National Bank boosted its stake in SBA Communications by 1.3% during the first quarter. Swiss National Bank now owns 378,551 shares of the technology company’s stock valued at $75,581,000 after buying an additional 5,000 shares in the last quarter. 93.54% of the stock is owned by institutional investors.
Several equities research analysts have weighed in on the company. UBS Group lowered SBA Communications from a “buy” rating to a “neutral” rating and increased their target price for the stock from $209.00 to $240.00 in a research report on Friday, June 7th. Bank of America reaffirmed a “neutral” rating and issued a $260.00 target price (up from $245.00) on shares of SBA Communications in a research report on Wednesday, August 14th. Moffett Nathanson reaffirmed a “neutral” rating and issued a $246.00 target price on shares of SBA Communications in a research report on Monday, July 8th. BidaskClub lowered SBA Communications from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 31st. Finally, TheStreet raised SBA Communications from a “c” rating to a “b-” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $236.67.
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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