George R. Krouse, Jr. Sells 1,643 Shares of SBA Communications Corporation (SBAC) Stock
SBA Communications Corporation (NASDAQ:SBAC) Director George R. Krouse, Jr. sold 1,643 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $138.63, for a total value of $227,769.09. Following the transaction, the director now directly owns 11,643 shares of the company’s stock, valued at approximately $1,614,069.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
SBA Communications Corporation (SBAC) traded down 0.31% during mid-day trading on Monday, hitting $139.52. The company’s stock had a trading volume of 535,546 shares. SBA Communications Corporation has a 12-month low of $95.66 and a 12-month high of $140.38. The firm’s 50-day moving average is $134.80 and its 200-day moving average is $123.72. The company has a market cap of $16.88 billion, a P/E ratio of 479.45 and a beta of 0.73.
SBA Communications Corporation (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, July 31st. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by $0.01. SBA Communications Corporation had a net margin of 2.19% and a negative return on equity of 2.69%. The business had revenue of $427.30 million for the quarter, compared to analysts’ expectations of $426.10 million. During the same quarter in the prior year, the company posted $1.48 EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts predict that SBA Communications Corporation will post $0.98 EPS for the current fiscal year.
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Hedge funds have recently modified their holdings of the stock. Xact Kapitalforvaltning AB acquired a new stake in shares of SBA Communications Corporation during the second quarter valued at approximately $3,137,000. Korea Investment CORP raised its stake in shares of SBA Communications Corporation by 66,687.8% in the first quarter. Korea Investment CORP now owns 98,178 shares of the technology company’s stock valued at $11,818,000 after buying an additional 98,031 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of SBA Communications Corporation by 8.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 257,200 shares of the technology company’s stock valued at $30,960,000 after buying an additional 19,369 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of SBA Communications Corporation during the first quarter valued at approximately $2,250,000. Finally, York Capital Management Global Advisors LLC acquired a new stake in shares of SBA Communications Corporation during the first quarter valued at approximately $8,048,000. Hedge funds and other institutional investors own 96.48% of the company’s stock.
SBAC has been the subject of a number of analyst reports. BidaskClub lowered SBA Communications Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 9th. Jefferies Group LLC raised their price objective on SBA Communications Corporation from $133.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Guggenheim raised SBA Communications Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the company from $118.00 to $137.00 in a research report on Monday, April 10th. Stifel Nicolaus set a $148.00 price objective on SBA Communications Corporation and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of SBA Communications Corporation in a research report on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. SBA Communications Corporation has a consensus rating of “Buy” and a consensus target price of $141.57.
About SBA Communications Corporation
SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.
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