SBA Communications Co. (NASDAQ:SBAC) SVP Brian D. Lazarus sold 20,561 shares of SBA Communications stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $187.51, for a total value of $3,855,393.11. Following the transaction, the senior vice president now owns 36,525 shares of the company’s stock, valued at approximately $6,848,802.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
SBAC traded up $1.51 during trading on Friday, hitting $190.95. 1,102,929 shares of the stock traded hands, compared to its average volume of 669,949. The company has a market cap of $21.50 billion, a P/E ratio of 25.13, a P/E/G ratio of 2.39 and a beta of 0.82. SBA Communications Co. has a twelve month low of $146.13 and a twelve month high of $191.27.
SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Thursday, February 21st. The technology company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($1.33). The company had revenue of $483.85 million for the quarter, compared to analyst estimates of $472.87 million. SBA Communications had a negative return on equity of 1.71% and a net margin of 2.54%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the company posted $1.78 earnings per share. Equities analysts expect that SBA Communications Co. will post 7.82 earnings per share for the current year.
Institutional investors have recently modified their holdings of the stock. Legacy Financial Advisors Inc. bought a new stake in shares of SBA Communications in the fourth quarter worth $25,000. Resources Investment Advisors Inc. bought a new stake in shares of SBA Communications in the fourth quarter worth $28,000. CWM LLC grew its stake in shares of SBA Communications by 49.2% in the fourth quarter. CWM LLC now owns 185 shares of the technology company’s stock worth $30,000 after purchasing an additional 61 shares during the last quarter. We Are One Seven LLC bought a new stake in shares of SBA Communications in the fourth quarter worth $34,000. Finally, Private Capital Group LLC grew its stake in shares of SBA Communications by 38.7% in the fourth quarter. Private Capital Group LLC now owns 226 shares of the technology company’s stock worth $37,000 after purchasing an additional 63 shares during the last quarter. 93.66% of the stock is currently owned by institutional investors.
A number of equities analysts recently commented on the company. BidaskClub upgraded SBA Communications from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Morgan Stanley lifted their price target on SBA Communications from $190.00 to $204.00 and gave the stock an “overweight” rating in a report on Monday. Guggenheim cut SBA Communications from a “buy” rating to a “neutral” rating and set a $185.00 price target for the company. in a report on Friday, February 22nd. Zacks Investment Research cut SBA Communications from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. Finally, KeyCorp lifted their price target on SBA Communications from $176.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. SBA Communications has an average rating of “Buy” and an average target price of $187.63.
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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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