SBA Communications Co. (NASDAQ:SBAC) CEO Jeffrey Stoops sold 94,289 shares of the stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $133.76, for a total value of $12,612,096.64. Following the completion of the transaction, the chief executive officer now owns 329,124 shares of the company’s stock, valued at approximately $44,023,626.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of SBA Communications Co. (NASDAQ:SBAC) traded up 0.61% during midday trading on Friday, reaching $132.80. The company’s stock had a trading volume of 855,374 shares. SBA Communications Co. has a 12 month low of $95.66 and a 12 month high of $136.34. The stock has a 50-day moving average of $125.50 and a 200 day moving average of $111.57. 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 (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, May 1st. The technology company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $1.48. SBA Communications had a negative return on equity of 2.24% and a net margin of 6.38%. The company had revenue of $423.40 million during the quarter, compared to the consensus estimate of $418.21 million. During the same period in the prior year, the company earned $1.45 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, analysts predict that SBA Communications Co. will post $1.05 earnings per share for the current fiscal year.
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Large investors have recently made changes to their positions in the company. Triple Frond Partners LLC increased 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 period. Nomura Asset Management Co. Ltd. increased 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 period. Asset Management One Co. Ltd. increased 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 period. Ulysses Management LLC acquired a new stake in shares of SBA Communications during the fourth quarter valued at about $1,549,000. Finally, SECOR Capital Advisors LP acquired a new stake in shares of SBA Communications during the third quarter valued at about $2,052,000. Institutional investors own 95.31% of the company’s stock.
A number of research firms recently weighed in on SBAC. Stifel Nicolaus set a $148.00 price target on SBA Communications and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Cowen and Company increased their price target on SBA Communications from $131.00 to $141.00 and gave the company an “outperform” rating in a research report on Tuesday, May 2nd. Zacks Investment Research upgraded SBA Communications from a “sell” rating to a “hold” rating in a research report on Friday, January 20th. Deutsche Bank AG reiterated a “hold” rating and issued a $133.00 price target (up previously from $121.00) on shares of SBA Communications in a research report on Saturday, April 22nd. Finally, Jefferies Group LLC increased their price target on SBA Communications from $133.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, May 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $133.93.
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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