SBA Communications Co. (SBAC) SVP Sells $3,855,393.11 in Stock

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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