SBA Communications Co. (NASDAQ:SBAC) Director Brian C. Carr sold 3,475 shares of SBA Communications stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $132.54, for a total value of $460,576.50. Following the transaction, the director now directly owns 3,051 shares of the company’s stock, valued at $404,379.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
SBA Communications Co. (NASDAQ:SBAC) traded up 0.61% during trading on Friday, hitting $132.80. The stock had a trading volume of 855,374 shares. The company has a market cap of $16.11 billion, a price-to-earnings ratio of 275.52 and a beta of 0.72. SBA Communications Co. has a 52 week low of $95.66 and a 52 week high of $136.34. The company has a 50-day moving average of $125.50 and a 200 day moving average of $111.57.
SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, May 1st. The technology company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $0.21 by $1.48. The company had revenue of $423.40 million during the quarter, compared to analysts’ expectations of $418.21 million. SBA Communications had a negative return on equity of 2.24% and a net margin of 6.38%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.45 earnings per share. On average, equities research analysts anticipate that SBA Communications Co. will post $1.05 EPS for the current year.
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A number of research analysts have issued reports on SBAC shares. Zacks Investment Research raised SBA Communications from a “sell” rating to a “hold” rating in a report on Friday, January 20th. Citigroup Inc lowered SBA Communications from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 25th. Macquarie restated a “hold” rating and issued a $107.00 target price on shares of SBA Communications in a research note on Sunday, February 26th. Guggenheim upgraded SBA Communications from a “neutral” rating to a “buy” rating and raised their target price for the company from $118.00 to $137.00 in a research note on Monday, April 10th. Finally, Barclays PLC raised their target price on SBA Communications from $118.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $133.93.
Several large investors have recently modified their holdings of SBAC. Triple Frond Partners LLC boosted its stake in shares of SBA Communications by 37.4% in the fourth quarter. Triple Frond Partners LLC now owns 824,676 shares of the technology company’s stock valued at $85,156,000 after buying an additional 224,676 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of SBA Communications by 2.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 22,058 shares of the technology company’s stock valued at $2,474,000 after buying an additional 539 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of SBA Communications by 1,611.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 210,426 shares of the technology company’s stock valued at $21,740,000 after buying an additional 198,130 shares during the last quarter. Ulysses Management LLC bought a new stake in shares of SBA Communications during the fourth quarter valued at $1,549,000. Finally, SECOR Capital Advisors LP bought a new stake in shares of SBA Communications during the third quarter valued at $2,052,000. 95.31% of the stock is owned by institutional investors.
About SBA Communications
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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