SBA Communications Co. (SBAC) VP Thomas P. Hunt Sells 79,908 Shares of Stock
SBA Communications Co. (NASDAQ:SBAC) VP Thomas P. Hunt sold 79,908 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $172.47, for a total value of $13,781,732.76. Following the completion of the transaction, the vice president now directly owns 133,652 shares of the company’s stock, valued at $23,050,960.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
SBA Communications stock opened at $168.77 on Wednesday. SBA Communications Co. has a 12 month low of $146.13 and a 12 month high of $177.67.
SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, November 5th. The technology company reported $0.14 EPS for the quarter, missing the consensus estimate of $1.78 by ($1.64). SBA Communications had a negative net margin of 0.11% and a negative return on equity of 0.65%. The firm had revenue of $467.20 million during the quarter, compared to analysts’ expectations of $459.17 million. During the same quarter in the previous year, the company posted $1.75 EPS. SBA Communications’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts anticipate that SBA Communications Co. will post 7.15 EPS for the current year.
Several research firms have recently issued reports on SBAC. Zacks Investment Research raised SBA Communications from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 25th. Macquarie reduced their target price on SBA Communications from $166.00 to $161.00 and set a “neutral” rating for the company in a report on Wednesday, August 29th. ValuEngine lowered SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. BidaskClub raised SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Finally, Bank of America set a $189.00 target price on SBA Communications and gave the company a “buy” rating in a report on Thursday, November 15th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus 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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