SBA Communications Director Sells $1,643,400 in Stock (SBAC)
SBA Communications (NASDAQ:SBAC) Director Kevin L. Beebe sold 15,000 shares of SBA Communications stock on the open market in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $109.56, for a total value of $1,643,400.00. Following the sale, the director now directly owns 5,024 shares in the company, valued at approximately $550,429. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Shares of SBA Communications (NASDAQ:SBAC) traded down 0.64% on Wednesday, hitting $108.94. 932,749 shares of the company’s stock traded hands. SBA Communications has a 52 week low of $71.10 and a 52 week high of $111.73. The stock’s 50-day moving average is $104.5 and its 200-day moving average is $97.30. The company’s market cap is $14.054 billion.
SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.31 earnings per share (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 $-0.03 earnings per share 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, 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 equities 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 stock. SBA Communications presently 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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