SBA Communications Co. (NASDAQ:SBAC) Director Sells $396,864.00 in Stock

SBA Communications Co. (NASDAQ:SBAC – Get Rating) Director Duncan Cocroft sold 1,152 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $344.50, for a total value of $396,864.00. Following the completion of the transaction, the director now owns 64,592 shares of the company’s stock, valued at $22,251,944. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

SBA Communications Trading Down 0.3 %

Shares of SBAC traded down $0.88 during trading hours on Friday, hitting $345.40. 439,372 shares of the stock traded hands, compared to its average volume of 700,611. SBA Communications Co. has a 1-year low of $286.41 and a 1-year high of $391.15. The firm has a market capitalization of $37.24 billion, a PE ratio of 106.30 and a beta of 0.43. The business has a fifty day moving average of $323.56 and a 200-day moving average of $328.45.

SBA Communications (NASDAQ:SBAC – Get Rating) last issued its quarterly earnings results on Monday, August 1st. The technology company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.26). SBA Communications had a net margin of 14.45% and a negative return on equity of 6.73%. The firm had revenue of $652.01 million for the quarter, compared to analyst estimates of $626.30 million. During the same period last year, the company earned $2.64 EPS. The company’s revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts expect that SBA Communications Co. will post 11.1 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 20th. Shareholders of record on Thursday, August 25th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Wednesday, August 24th. SBA Communications’s payout ratio is 87.93%.

Analysts Set New Price Targets

A number of brokerages recently commented on SBAC. Jefferies Financial Group cut their target price on SBA Communications from $383.00 to $347.00 and set a “hold” rating for the company in a research note on Thursday, June 30th. Raymond James upped their target price on SBA Communications from $385.00 to $410.00 and gave the company a “strong-buy” rating in a research note on Tuesday, April 26th. Credit Suisse Group upped their price target on SBA Communications from $405.00 to $408.00 and gave the company an “outperform” rating in a research report on Tuesday. StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a research report on Friday, June 10th. Finally, Barclays upped their price target on SBA Communications from $378.00 to $385.00 and gave the company an “overweight” rating in a research report on Tuesday, April 26th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and a consensus price target of $385.88.

Hedge Funds Weigh In On SBA Communications

Several hedge funds have recently added to or reduced their stakes in the stock. PFG Advisors lifted its stake in SBA Communications by 1.2% in the first quarter. PFG Advisors now owns 2,621 shares of the technology company’s stock valued at $902,000 after buying an additional 30 shares during the period. Signaturefd LLC raised its position in shares of SBA Communications by 6.0% during the first quarter. Signaturefd LLC now owns 546 shares of the technology company’s stock worth $188,000 after purchasing an additional 31 shares during the period. Great Diamond Partners LLC raised its position in shares of SBA Communications by 2.9% during the second quarter. Great Diamond Partners LLC now owns 1,084 shares of the technology company’s stock worth $346,000 after purchasing an additional 31 shares during the period. AdvisorNet Financial Inc raised its position in shares of SBA Communications by 52.5% during the second quarter. AdvisorNet Financial Inc now owns 93 shares of the technology company’s stock worth $30,000 after purchasing an additional 32 shares during the period. Finally, Hotaling Investment Management LLC raised its position in shares of SBA Communications by 4.9% during the first quarter. Hotaling Investment Management LLC now owns 708 shares of the technology company’s stock worth $244,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 95.41% of the company’s stock.

About SBA Communications

(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.