Insider Selling: Edmund Disanto Sells 25,000 Shares of American Tower Corp Stock (AMT)
American Tower Corp (NYSE:AMT) EVP Edmund Disanto unloaded 25,000 shares of the stock on the open market in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $80.99, for a total transaction of $2,024,750.00. Following the sale, the executive vice president now directly owns 55,671 shares of the company’s stock, valued at approximately $4,508,794. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
American Tower Corp (NYSE:AMT) traded down 1.66% on Thursday, hitting $79.35. 3,676,764 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 has a 50-day moving average of $75.64 and a 200-day moving average of $75.76. The company has a market cap of $31.343 billion and a price-to-earnings ratio of 50.43.
American Tower Corp (NYSE:AMT) last announced its earnings results on Wednesday, October 30th. The company reported $0.45 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.53 by $0.08. The company had revenue of $807.90 million for the quarter, compared to the consensus estimate of $822.04 million. During the same quarter in the prior year, the company posted $0.58 earnings per share. The company’s quarterly revenue was up 13.3% on a year-over-year basis. Analysts expect that American Tower Corp will post $1.75 EPS for the current fiscal year.
A number of analysts have recently weighed in on AMT shares. Analysts at JPMorgan Chase & Co. raised their price target on shares of American Tower Corp from $90.00 to $95.00 in a research note to investors on Thursday. They now have an “overweight” rating on the stock. Separately, analysts at Deutsche Bank raised their price target on shares of American Tower Corp from $92.00 to $105.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Barclays raised their price target on shares of American Tower Corp from $90.00 to $95.00 in a research note to investors on Thursday. They now have an “overweight” rating on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $88.28.
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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