Insider Selling: SBA Communications Corp. CFO Sells 101,628 Shares of Stock (SBAC)
SBA Communications Corp. (NASDAQ:SBAC) CFO Brendan Thomas Cavanagh sold 101,628 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $77.04, for a total transaction of $7,829,421.12. Following the completion of the transaction, the chief financial officer now directly owns 6,628 shares in the company. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Nomura reiterated a “buy” rating on shares of SBA Communications Corp. (NASDAQ:SBAC) in a research note to investors on Monday. They now have a $90.00 price target on the stock, up previously from $85.00. Separately, analysts at Raymond James raised their price target on shares of SBA Communications Corp. (NASDAQ:SBAC) from $90.00 to $96.00 in a research note to investors on Tuesday, August 6th. Finally, analysts at Barclays Capital raised their price target on shares of SBA Communications Corp. (NASDAQ:SBAC) from $86.00 to $89.00 in a research note to investors on Tuesday, August 6th.
Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $87.58.
Shares of SBA Communications Corp. (NASDAQ:SBAC) traded up 0.16% on Wednesday, hitting $77.40. 1,934,770 shares of the company’s stock traded hands. SBA Communications Corp. has a 52 week low of $60.56 and a 52 week high of $82.31. The stock has a 50-day moving average of $74.64 and a 200-day moving average of $75.33. The company’s market cap is $9.891 billion.
SBA Communications Corp. (NASDAQ:SBAC) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.28) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.10) by $0.18. The company had revenue of $324.30 million for the quarter, compared to the consensus estimate of $314.05 million. During the same quarter in the prior year, the company posted ($0.44) earnings per share. The company’s quarterly revenue was up 41.6% on a year-over-year basis. Analysts expect that SBA Communications Corp. will post $-0.62 EPS for the current fiscal year.
SBA Communications Corporation (NASDAQ:SBAC) is an independent owner and operator of wireless communications towers.
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