Investors Purchase Large Volume of SBA Communications Put Options (SBAC)

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SBA Communications Co. (NASDAQ:SBAC) saw some unusual options trading activity on Wednesday. Investors purchased 5,126 put options on the stock. This represents an increase of 1,282% compared to the typical volume of 371 put options.

In other SBA Communications news, EVP Kurt L. Bagwell sold 92,154 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $181.89, for a total value of $16,761,891.06. Following the completion of the transaction, the executive vice president now directly owns 82,878 shares in the company, valued at $15,074,679.42. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kurt L. Bagwell sold 22,400 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $181.53, for a total transaction of $4,066,272.00. Following the completion of the transaction, the executive vice president now owns 82,878 shares of the company’s stock, valued at $15,044,843.34. The disclosure for this sale can be found here. Insiders have sold 246,558 shares of company stock valued at $45,484,249 over the last 90 days. 2.70% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Spectrum Management Group Inc. purchased a new position in shares of SBA Communications in the first quarter worth $27,000. Legacy Financial Advisors Inc. purchased a new stake in SBA Communications during the fourth quarter valued at $25,000. Pinnacle Bank purchased a new stake in SBA Communications during the fourth quarter valued at $25,000. Resources Investment Advisors Inc. purchased a new stake in SBA Communications during the fourth quarter valued at $28,000. Finally, CWM LLC raised its stake in SBA Communications by 49.2% during the fourth quarter. CWM LLC now owns 185 shares of the technology company’s stock valued at $30,000 after purchasing an additional 61 shares in the last quarter. 94.90% of the stock is currently owned by hedge funds and other institutional investors.

SBAC stock opened at $197.30 on Thursday. SBA Communications has a one year low of $146.13 and a one year high of $204.34. The firm has a market capitalization of $22.87 billion, a PE ratio of 25.96, a P/E/G ratio of 2.60 and a beta of 0.83.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Thursday, February 21st. The technology company reported $0.50 EPS for the quarter, missing the consensus estimate of $1.83 by ($1.33). SBA Communications had a negative return on equity of 1.71% and a net margin of 2.54%. The company had revenue of $483.85 million during the quarter, compared to analysts’ expectations of $472.87 million. During the same period last year, the firm posted $1.78 EPS. SBA Communications’s quarterly revenue was up 9.2% compared to the same quarter last year. As a group, research analysts expect that SBA Communications will post 7.82 EPS for the current fiscal year.

SBAC has been the subject of a number of recent analyst reports. BidaskClub lowered shares of SBA Communications from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 20th. Morgan Stanley upped their price target on shares of SBA Communications from $190.00 to $204.00 and gave the stock an “overweight” rating in a research report on Monday, March 11th. ValuEngine lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Bank of America upped their price target on shares of SBA Communications from $189.00 to $211.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $217.00 price target on shares of SBA Communications in a research report on Thursday, April 11th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $193.33.

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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. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.

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