SBA Communications Co. (SBAC) CEO Sells $13,688,000.00 in Stock

SBA Communications Co. (NASDAQ:SBAC) CEO Jeffrey Stoops sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $171.10, for a total value of $13,688,000.00. Following the completion of the transaction, the chief executive officer now owns 214,943 shares in the company, valued at approximately $36,776,747.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Jeffrey Stoops also recently made the following trade(s):

  • On Friday, September 14th, Jeffrey Stoops sold 40,000 shares of SBA Communications stock. The stock was sold at an average price of $160.05, for a total value of $6,402,000.00.
  • On Thursday, August 23rd, Jeffrey Stoops sold 40,000 shares of SBA Communications stock. The stock was sold at an average price of $154.16, for a total value of $6,166,400.00.

SBA Communications stock traded down $0.01 during trading on Friday, reaching $171.51. 911,257 shares of the company were exchanged, compared to its average volume of 962,439. SBA Communications Co. has a 52-week low of $146.13 and a 52-week high of $177.67.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, November 5th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.78 by ($1.64). The business had revenue of $467.20 million for the quarter, compared to analyst estimates of $459.17 million. SBA Communications had a negative return on equity of 0.65% and a negative net margin of 0.11%. SBA Communications’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business earned $1.75 EPS. On average, research analysts predict that SBA Communications Co. will post 7.11 earnings per share for the current year.

A number of brokerages recently commented on SBAC. Citigroup lifted their price objective on SBA Communications from $187.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday. BidaskClub downgraded SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. ValuEngine downgraded SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Zacks Investment Research upgraded SBA Communications from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 25th. Finally, Deutsche Bank lifted their price objective on SBA Communications from $170.00 to $183.00 and gave the stock a “hold” rating in a research report on Wednesday, August 1st. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $179.80.

Hedge funds have recently bought and sold shares of the business. Employees Retirement System of Texas increased its stake in SBA Communications by 31.3% during the second quarter. Employees Retirement System of Texas now owns 21,000 shares of the technology company’s stock worth $3,468,000 after acquiring an additional 5,000 shares during the last quarter. Rampart Investment Management Company LLC increased its stake in SBA Communications by 167.9% during the second quarter. Rampart Investment Management Company LLC now owns 13,970 shares of the technology company’s stock worth $2,307,000 after acquiring an additional 8,756 shares during the last quarter. Neuburgh Advisers LLC increased its stake in SBA Communications by 9.7% during the second quarter. Neuburgh Advisers LLC now owns 6,446 shares of the technology company’s stock worth $1,064,000 after acquiring an additional 572 shares during the last quarter. Riverhead Capital Management LLC increased its stake in SBA Communications by 9.3% during the second quarter. Riverhead Capital Management LLC now owns 9,815 shares of the technology company’s stock worth $1,621,000 after acquiring an additional 836 shares during the last quarter. Finally, DF Dent & Co. Inc. increased its stake in SBA Communications by 35.5% during the second quarter. DF Dent & Co. Inc. now owns 203,874 shares of the technology company’s stock worth $33,664,000 after acquiring an additional 53,456 shares during the last quarter. 94.37% of the stock is owned by institutional investors.

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SBA Communications Company Profile

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By "Building Better Wireless," SBA generates revenue from two primary businesses – site leasing and site development services.

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