SBA Communications Co. (NASDAQ:SBAC) CFO Brendan Thomas Cavanagh sold 140,017 shares of SBA Communications stock in a transaction on Friday, November 16th. The shares were sold at an average price of $172.12, for a total value of $24,099,726.04. Following the transaction, the chief financial officer now owns 81,810 shares in the company, valued at approximately $14,081,137.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Brendan Thomas Cavanagh also recently made the following trade(s):

  • On Monday, November 19th, Brendan Thomas Cavanagh sold 147,717 shares of SBA Communications stock. The shares were sold at an average price of $172.16, for a total value of $25,430,958.72.

SBAC traded down $4.37 during trading on Tuesday, reaching $168.77. 1,341,485 shares of the stock traded hands, compared to its average volume of 962,200. SBA Communications Co. has a fifty-two week low of $146.13 and a fifty-two week high of $177.67.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, November 5th. The technology company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.78 by ($1.64). The firm had revenue of $467.20 million for the quarter, compared to analyst estimates of $459.17 million. SBA Communications had a negative net margin of 0.11% and a negative return on equity of 0.65%. SBA Communications’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.75 EPS. As a group, analysts predict that SBA Communications Co. will post 7.15 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC acquired a new stake in SBA Communications during the second quarter valued at $115,000. Virtus Alternative Investment Advisers Inc. acquired a new stake in shares of SBA Communications in the third quarter worth about $128,000. Quantbot Technologies LP acquired a new stake in shares of SBA Communications in the third quarter worth about $179,000. HRT Financial LLC acquired a new stake in shares of SBA Communications in the second quarter worth about $201,000. Finally, Dupont Capital Management Corp lifted its position in shares of SBA Communications by 71.6% in the second quarter. Dupont Capital Management Corp now owns 1,227 shares of the technology company’s stock worth $203,000 after buying an additional 512 shares during the last quarter. 94.96% of the stock is owned by hedge funds and other institutional investors.

SBAC has been the topic of a number of research analyst reports. Guggenheim set a $180.00 price target on SBA Communications and gave the company a “buy” rating in a report on Wednesday, October 17th. Citigroup upgraded SBA Communications from a “neutral” rating to a “buy” rating and lifted their price target for the company from $175.00 to $187.00 in a report on Wednesday, October 31st. BidaskClub upgraded SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Zacks Investment Research upgraded SBA Communications from a “hold” rating to a “buy” rating and set a $192.00 price target on the stock in a report on Thursday, November 15th. Finally, Bank of America set a $189.00 price target on SBA Communications and gave the company a “buy” rating in a report on Thursday, November 15th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $181.58.

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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.

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