Insider Selling: George R. Krouse, Jr. Sells 2,000 Shares of SBA Communications Stock (SBAC)
SBA Communications (NASDAQ:SBAC) Director George R. Krouse, Jr. sold 2,000 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $106.99, for a total value of $213,980.00. Following the completion of the sale, the director now directly owns 6,101 shares in the company, valued at approximately $652,746. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of SBA Communications (NASDAQ:SBAC) traded down 0.71% during mid-day trading on Friday, hitting $106.17. The stock had a trading volume of 984,353 shares. SBA Communications has a one year low of $71.10 and a one year high of $109.52. The stock’s 50-day moving average is $102.3 and its 200-day moving average is $96.33. The company’s market cap is $13.707 billion.
SBA Communications (NASDAQ:SBAC) last released its earnings data on Thursday, July 24th. The company reported $1.31 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.01) by $1.32. The company had revenue of $383.40 million for the quarter, compared to the consensus estimate of $371.40 million. During the same quarter in the prior year, the company posted ($0.28) earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis. Analysts expect that SBA Communications will post $0.01 EPS for the current fiscal year.
A number of analysts have recently weighed in on SBAC shares. Analysts at Jefferies Group reiterated a “buy” rating on shares of SBA Communications in a research note on Tuesday. They now have a $120.00 price target on the stock, up previously from $115.00. Separately, analysts at Raymond James raised their price target on shares of SBA Communications from $118.00 to $127.00 in a research note on Monday. Finally, analysts at Barclays raised their price target on shares of SBA Communications from $104.00 to $125.00 in a research note on Monday. They now have an “overweight” rating on the stock. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $114.33.
SBA Communications Corporation (NASDAQ:SBAC) is an independent owner and operator of wireless communications towers.
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