SBA Communications Co. (NASDAQ:SBAC) EVP Kurt L. Bagwell sold 56,273 shares of the company’s stock in a transaction on Wednesday, June 27th. The stock was sold at an average price of $165.05, for a total transaction of $9,287,858.65. Following the transaction, the executive vice president now directly owns 42,089 shares in the company, valued at $6,946,789.45. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
SBA Communications opened at $164.69 on Tuesday, MarketBeat Ratings reports. SBA Communications Co. has a 52 week low of $133.27 and a 52 week high of $177.67. The company has a debt-to-equity ratio of -3.62, a quick ratio of 1.21 and a current ratio of 1.21.
SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, April 30th. The technology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.20 by $0.07. SBA Communications had a net margin of 5.54% and a negative return on equity of 4.79%. The business had revenue of $458.30 million for the quarter, compared to analyst estimates of $453.50 million. During the same period in the previous year, the firm earned $1.69 EPS. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. sell-side analysts predict that SBA Communications Co. will post 0.92 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of SBA Communications by 40.4% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 94,074 shares of the technology company’s stock worth $15,368,000 after buying an additional 27,058 shares in the last quarter. Amalgamated Bank boosted its position in shares of SBA Communications by 9.3% in the 4th quarter. Amalgamated Bank now owns 15,813 shares of the technology company’s stock worth $2,583,000 after buying an additional 1,344 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in shares of SBA Communications by 158.8% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 8,050 shares of the technology company’s stock worth $1,315,000 after buying an additional 4,940 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of SBA Communications by 26.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,582,045 shares of the technology company’s stock worth $421,803,000 after buying an additional 545,374 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of SBA Communications in the 4th quarter worth about $6,219,000. Institutional investors and hedge funds own 94.13% of the company’s stock.
SBAC has been the topic of a number of recent analyst reports. ValuEngine raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Morgan Stanley lowered their price target on shares of SBA Communications from $190.00 to $182.00 and set an “overweight” rating on the stock in a research note on Friday, March 16th. Finally, BidaskClub cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $175.54.
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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