SBA Communications Co. (NASDAQ:SBAC) SVP Brian D. Lazarus sold 20,561 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $187.51, for a total value of $3,855,393.11. Following the sale, the senior vice president now directly owns 36,525 shares in the company, valued at $6,848,802.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
NASDAQ:SBAC traded up $1.51 during trading hours on Friday, hitting $190.95. 1,102,929 shares of the company’s stock traded hands, compared to its average volume of 669,949. The firm has a market capitalization of $21.50 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 2.39 and a beta of 0.82. SBA Communications Co. has a twelve month low of $146.13 and a twelve month high of $191.27.
SBA Communications (NASDAQ:SBAC) last issued its earnings results on Thursday, February 21st. The technology company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $1.83 by ($1.33). SBA Communications had a net margin of 2.54% and a negative return on equity of 1.71%. The firm had revenue of $483.85 million during the quarter, compared to analysts’ expectations of $472.87 million. During the same quarter last year, the firm earned $1.78 EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that SBA Communications Co. will post 7.82 earnings per share for the current year.
A number of brokerages have recently issued reports on SBAC. Zacks Investment Research raised SBA Communications from a “hold” rating to a “buy” rating and set a $192.00 target price on the stock in a research report on Thursday, November 15th. BidaskClub raised SBA Communications from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Morgan Stanley boosted their target price on SBA Communications from $190.00 to $204.00 and gave the stock an “overweight” rating in a research report on Monday. Guggenheim lowered SBA Communications from a “buy” rating to a “neutral” rating and set a $185.00 target price on the stock. in a research report on Friday, February 22nd. Finally, Bank of America set a $189.00 target price on SBA Communications and gave the stock a “buy” rating in a research report on Thursday, November 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $187.63.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Suntrust Banks Inc. raised its holdings in shares of SBA Communications by 4.1% in the 4th quarter. Suntrust Banks Inc. now owns 1,493 shares of the technology company’s stock worth $242,000 after buying an additional 59 shares in the last quarter. CWM LLC grew its position in SBA Communications by 49.2% during the 4th quarter. CWM LLC now owns 185 shares of the technology company’s stock worth $30,000 after acquiring an additional 61 shares during the last quarter. Creative Planning grew its position in SBA Communications by 3.0% during the 4th quarter. Creative Planning now owns 2,106 shares of the technology company’s stock worth $341,000 after acquiring an additional 62 shares during the last quarter. Private Capital Group LLC grew its position in SBA Communications by 38.7% during the 4th quarter. Private Capital Group LLC now owns 226 shares of the technology company’s stock worth $37,000 after acquiring an additional 63 shares during the last quarter. Finally, Gateway Investment Advisers LLC boosted its position in shares of SBA Communications by 1.4% in the 4th quarter. Gateway Investment Advisers LLC now owns 5,752 shares of the technology company’s stock worth $931,000 after purchasing an additional 81 shares during the last quarter. 93.66% of the stock is owned by institutional investors and hedge funds.
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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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