Insider Selling: American Tower Corp CEO Sells 100,000 Shares of Stock (AMT)
American Tower Corp (NYSE:AMT) CEO James Taiclet, Jr. sold 100,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $73.15, for a total transaction of $7,315,000.00. Following the transaction, the chief executive officer now directly owns 100,041 shares of the company’s stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of research firms have recently commented on AMT. Analysts at Zacks reiterated a “neutral” rating on shares of American Tower Corp (NYSE:AMT) in a research note to investors on Thursday, August 29th. They now have a $73.00 price target on the stock. Separately, analysts at ISI Group upgraded shares of American Tower Corp (NYSE:AMT) from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday, August 13th. They now have a $79.00 price target on the stock. Finally, analysts at Pacific Crest cut their price target on shares of American Tower Corp (NYSE:AMT) from $97.00 to $93.00 in a research note to investors on Friday, August 2nd. They now have an “outperform” rating on the stock.
Two analysts have rated the stock with a sell rating, five have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $85.76.
Shares of American Tower Corp (NYSE:AMT) traded up 0.59% on Wednesday, hitting $75.02. 2,613,567 shares of the company’s stock traded hands. American Tower Corp has a one year low of $67.89 and a one year high of $85.26. The stock’s 50-day moving average is $70.55 and its 200-day moving average is $76.16. The company has a market cap of $29.633 billion and a P/E ratio of 46.61.
American Tower Corp (NYSE:AMT) last released its earnings data on Wednesday, July 31st. The company reported $0.92 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.52 by $0.40. The company had revenue of $808.80 million for the quarter, compared to the consensus estimate of $815.11 million. During the same quarter in the prior year, the company posted $0.12 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. On average, analysts predict that American Tower Corp will post $1.82 earnings per share for the current fiscal year.
American Tower Corporation is a holding company. The Company conducts its operations through its directly and indirectly owned subsidiaries and joint ventures.
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