SBA Communications Corporation (SBAC) EVP Sells $1,358,844.70 in Stock
SBA Communications Corporation (NASDAQ:SBAC) EVP Mark R. Ciarfella sold 9,655 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $140.74, for a total transaction of $1,358,844.70. Following the completion of the sale, the executive vice president now owns 21,403 shares of the company’s stock, valued at approximately $3,012,258.22. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Shares of SBA Communications Corporation (SBAC) traded down 0.31% during midday trading on Monday, hitting $139.52. 535,546 shares of the stock traded hands. SBA Communications Corporation has a 52 week low of $95.66 and a 52 week high of $140.38. The company has a market capitalization of $16.88 billion, a price-to-earnings ratio of 479.45 and a beta of 0.73. The firm’s 50-day moving average is $134.80 and its 200 day moving average is $123.72.
SBA Communications Corporation (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, July 31st. The technology company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $427.30 million during the quarter, compared to the consensus estimate of $426.10 million. SBA Communications Corporation had a net margin of 2.19% and a negative return on equity of 2.69%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.48 EPS. Equities analysts forecast that SBA Communications Corporation will post $0.98 earnings per share for the current year.
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Several research firms have weighed in on SBAC. Raymond James Financial, Inc. restated an “outperform” rating on shares of SBA Communications Corporation in a research report on Monday, June 12th. Stifel Nicolaus set a $148.00 price objective on shares of SBA Communications Corporation and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Cowen and Company raised their price objective on shares of SBA Communications Corporation from $131.00 to $141.00 and gave the company an “outperform” rating in a research report on Tuesday, May 2nd. BidaskClub cut shares of SBA Communications Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 9th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $133.00 price objective (up previously from $121.00) on shares of SBA Communications Corporation in a research report on Saturday, April 22nd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $141.57.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning boosted its stake in shares of SBA Communications Corporation by 40.7% in the second quarter. Creative Planning now owns 874 shares of the technology company’s stock worth $118,000 after buying an additional 253 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of SBA Communications Corporation by 17.0% in the first quarter. Van ECK Associates Corp now owns 1,217 shares of the technology company’s stock worth $146,000 after buying an additional 177 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of SBA Communications Corporation during the second quarter worth $159,000. Toronto Dominion Bank boosted its stake in shares of SBA Communications Corporation by 25.7% in the first quarter. Toronto Dominion Bank now owns 1,358 shares of the technology company’s stock worth $163,000 after buying an additional 278 shares during the last quarter. Finally, Kings Point Capital Management acquired a new stake in shares of SBA Communications Corporation during the first quarter worth $200,000. Institutional investors and hedge funds own 96.48% of the company’s stock.
SBA Communications Corporation Company Profile
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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