Investors Purchase Large Volume of SBA Communications Put Options (SBAC)
SBA Communications Co. (NASDAQ:SBAC) was the recipient of unusually large options trading activity on Wednesday. Traders bought 5,126 put options on the company. This represents an increase of 1,282% compared to the average volume of 371 put options.
In other news, Director Kevin L. Beebe sold 440 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $189.86, for a total value of $83,538.40. Following the transaction, the director now directly owns 13,369 shares in the company, valued at $2,538,238.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jason V. Silberstein sold 51,369 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $190.71, for a total transaction of $9,796,581.99. Following the completion of the transaction, the executive vice president now owns 60,154 shares in the company, valued at $11,471,969.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 246,558 shares of company stock worth $45,484,249. Company insiders own 2.70% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the business. Suntrust Banks Inc. lifted its position in shares of SBA Communications by 4.1% during the fourth quarter. Suntrust Banks Inc. now owns 1,493 shares of the technology company’s stock valued at $242,000 after buying an additional 59 shares during the last quarter. CWM LLC lifted its position in shares of SBA Communications by 49.2% during the fourth quarter. CWM LLC now owns 185 shares of the technology company’s stock valued at $30,000 after buying an additional 61 shares during the last quarter. Creative Planning lifted its position in shares of SBA Communications by 3.0% during the fourth quarter. Creative Planning now owns 2,106 shares of the technology company’s stock valued at $341,000 after buying an additional 62 shares during the last quarter. Private Capital Group LLC lifted its position in shares of SBA Communications by 38.7% during the fourth quarter. Private Capital Group LLC now owns 226 shares of the technology company’s stock valued at $37,000 after buying an additional 63 shares during the last quarter. Finally, Gateway Investment Advisers LLC lifted its position in shares of SBA Communications by 1.4% during the fourth quarter. Gateway Investment Advisers LLC now owns 5,752 shares of the technology company’s stock valued at $931,000 after buying an additional 81 shares during the last quarter. 94.90% of the stock is owned by institutional investors and hedge funds.
Shares of SBA Communications stock opened at $197.30 on Thursday. SBA Communications has a 1 year low of $146.13 and a 1 year high of $204.34. The stock has a market cap of $22.87 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 2.60 and a beta of 0.83.
SBA Communications (NASDAQ:SBAC) last issued its earnings results on Thursday, February 21st. The technology company reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.83 by ($1.33). SBA Communications had a negative return on equity of 1.71% and a net margin of 2.54%. The business had revenue of $483.85 million for the quarter, compared to the consensus estimate of $472.87 million. During the same quarter in the previous year, the company earned $1.78 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. On average, equities analysts anticipate that SBA Communications will post 7.82 earnings per share for the current year.
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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