SBA Communications Corporation (NASDAQ:SBAC) Director George R. Krouse, Jr. sold 1,999 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $169.51, for a total transaction of $338,850.49. Following the completion of the transaction, the director now directly owns 11,999 shares in the company, valued at approximately $2,033,950.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
SBA Communications Corporation (NASDAQ:SBAC) opened at $165.20 on Tuesday. The stock has a market cap of $19,858.72, a P/E ratio of 211.19 and a beta of 0.75. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of -3.63. SBA Communications Corporation has a 1-year low of $95.66 and a 1-year high of $170.82.
SBA Communications Corporation (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, October 30th. The technology company reported $1.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $1.50. The company had revenue of $433.90 million during the quarter, compared to the consensus estimate of $431.42 million. SBA Communications Corporation had a net margin of 5.95% and a negative return on equity of 4.71%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.12) earnings per share. sell-side analysts predict that SBA Communications Corporation will post 0.98 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Teachers Advisors LLC grew its position in SBA Communications Corporation by 18.4% in the 1st quarter. Teachers Advisors LLC now owns 150,834 shares of the technology company’s stock worth $18,156,000 after purchasing an additional 23,444 shares during the period. Capstone Asset Management Co. grew its position in SBA Communications Corporation by 8.7% in the 2nd quarter. Capstone Asset Management Co. now owns 3,111 shares of the technology company’s stock worth $420,000 after purchasing an additional 250 shares during the period. Creative Planning grew its position in SBA Communications Corporation by 40.7% in the 2nd quarter. Creative Planning now owns 874 shares of the technology company’s stock worth $118,000 after purchasing an additional 253 shares during the period. National Pension Service grew its position in SBA Communications Corporation by 9.8% in the 2nd quarter. National Pension Service now owns 122,196 shares of the technology company’s stock worth $16,438,000 after purchasing an additional 10,860 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in SBA Communications Corporation in the 2nd quarter worth approximately $632,000. 95.41% of the stock is owned by institutional investors.
A number of research analysts recently commented on SBAC shares. Zacks Investment Research raised SBA Communications Corporation from a “hold” rating to a “strong-buy” rating and set a $158.00 target price on the stock in a research note on Thursday, July 20th. Barclays PLC reaffirmed an “overweight” rating and set a $148.00 price objective on shares of SBA Communications Corporation in a research note on Tuesday, August 1st. BidaskClub raised SBA Communications Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. KeyCorp reaffirmed a “buy” rating and set a $179.00 price objective (up from $170.00) on shares of SBA Communications Corporation in a research note on Wednesday, November 1st. Finally, Citigroup Inc. increased their target price on shares of SBA Communications Corporation from $140.00 to $168.00 and gave the stock a “neutral” rating in a report on Monday, August 28th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. SBA Communications Corporation has an average rating of “Buy” and a consensus target price of $150.27.
SBA Communications Corporation Company Profile
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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