Insider Selling: Brian C. Carr Sells 2,576 Shares of SBA Communications Stock (SBAC)
SBA Communications (NASDAQ:SBAC) Director Brian C. Carr sold 2,576 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $107.06, for a total transaction of $275,786.56. Following the sale, the director now directly owns 2,404 shares in the company, valued at approximately $257,372. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of SBA Communications (NASDAQ:SBAC) traded up 3.18% during mid-day trading on Friday, hitting $110.49. The stock had a trading volume of 1,627,747 shares. SBA Communications has a 52 week low of $71.10 and a 52 week high of $111.15. The stock has a 50-day moving average of $103.6 and a 200-day moving average of $96.8. The company’s market cap is $14.254 billion.
SBA Communications (NASDAQ:SBAC) last issued its quarterly 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. On average, analysts predict that SBA Communications will post $-0.02 earnings per share for the current fiscal year.
SBAC has been the subject of a number of recent research reports. Analysts at Jefferies Group reiterated a “buy” rating on shares of SBA Communications in a research note on Tuesday, July 29th. 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, July 28th. 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, July 28th. They now have an “overweight” rating on the stock. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $115.43.
SBA Communications Corporation (NASDAQ:SBAC) is an independent owner and operator of wireless communications towers.
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