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 American Tower Corp stock on the open market in a transaction dated Monday, October 7th. The stock was sold at an average price of $72.73, for a total value of $7,273,000.00. Following the completion of the sale, the chief executive officer now directly owns 100,041 shares of the company’s stock, valued at approximately $7,275,982. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of American Tower Corp (NYSE:AMT) traded down 1.56% during mid-day trading on Tuesday, hitting $71.89. The stock had a trading volume of 1,944,185 shares. American Tower Corp has a 1-year low of $67.89 and a 1-year high of $85.26. The stock has a 50-day moving average of $72.21 and a 200-day moving average of $75.81. The company has a market cap of $28.396 billion and a P/E ratio of 45.64.
American Tower Corp (NYSE:AMT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.92 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, analysts predict that American Tower Corp will post $1.78 earnings per share for the current fiscal year.
A number of research firms have recently commented on AMT. Analysts at Macquarie raised their price target on shares of American Tower Corp from $84.00 to $88.00 in a research note to investors on Tuesday, September 17th. They now have an “outperform” rating on the stock. Separately, analysts at Nomura upgraded shares of American Tower Corp from a “neutral” rating to a “buy” rating in a research note to investors on Monday, September 16th. They now have a $90.00 price target on the stock, up previously from $85.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of American Tower Corp in a research note to investors on Thursday, August 29th. They now have a $73.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. American Tower Corp has an average rating of “Buy” and an average target price of $87.00.
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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