SBA Communications Co. (SBAC) CEO Sells $8,283,572.89 in Stock

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SBA Communications Co. (NASDAQ:SBAC) CEO Jeffrey Stoops sold 37,847 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $218.87, for a total value of $8,283,572.89. Following the sale, the chief executive officer now owns 255,141 shares of the company’s stock, valued at $55,842,710.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of SBAC traded down $0.98 during trading hours on Friday, reaching $220.50. The stock had a trading volume of 403,859 shares, compared to its average volume of 673,157. SBA Communications Co. has a 12 month low of $146.13 and a 12 month high of $223.31. The stock has a market capitalization of $25.00 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 2.85 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, April 29th. The technology company reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $1.89 by ($1.66). SBA Communications had a net margin of 2.20% and a negative return on equity of 1.44%. The firm had revenue of $493.29 million during the quarter, compared to the consensus estimate of $481.06 million. During the same quarter in the previous year, the company posted $1.85 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. On average, research analysts anticipate that SBA Communications Co. will post 7.75 earnings per share for the current fiscal year.

Several research firms have weighed in on SBAC. SunTrust Banks restated a “buy” rating and set a $217.00 target price on shares of SBA Communications in a research note on Thursday, April 11th. They noted that the move was a valuation call. Morgan Stanley upped their target price on SBA Communications from $204.00 to $222.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. BidaskClub cut SBA Communications from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 16th. ValuEngine upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Finally, KeyCorp increased their price target on SBA Communications from $195.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $201.80.

Several institutional investors and hedge funds have recently made changes to their positions in SBAC. Pinnacle Bank acquired a new stake in SBA Communications in the fourth quarter valued at $25,000. Spectrum Management Group Inc. acquired a new stake in SBA Communications in the first quarter valued at $27,000. Resources Investment Advisors Inc. acquired a new stake in SBA Communications in the fourth quarter valued at $28,000. CWM LLC increased its holdings in SBA Communications by 49.2% in 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 during the period. Finally, Pearl River Capital LLC acquired a new stake in SBA Communications in the fourth quarter valued at $49,000. Institutional investors own 94.25% of the company’s stock.

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About SBA Communications

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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