Insider Selling: SBA Communications Co. (NASDAQ:SBAC) EVP Sells $364,290.00 in Stock

SBA Communications Co. (NASDAQ:SBAC) EVP Donald Day sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

SBA Communications Price Performance

Shares of SBAC opened at $238.29 on Friday. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76. The company has a market capitalization of $25.61 billion, a P/E ratio of 46.72, a P/E/G ratio of 0.75 and a beta of 0.67. The firm’s 50 day simple moving average is $223.59 and its 200 day simple moving average is $209.10.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The company had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $665.21 million. During the same quarter last year, the business posted $3.24 EPS. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities analysts anticipate that SBA Communications Co. will post 12.53 earnings per share for the current year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.65%. The ex-dividend date was Thursday, August 22nd. SBA Communications’s dividend payout ratio (DPR) is currently 76.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SBAC shares. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Friday. Deutsche Bank Aktiengesellschaft increased their price objective on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Royal Bank of Canada lifted their target price on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Wells Fargo & Company downgraded shares of SBA Communications from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $230.00 to $220.00 in a report on Monday, July 15th. Finally, The Goldman Sachs Group started coverage on shares of SBA Communications in a research note on Monday, July 1st. They set a “neutral” rating and a $212.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $240.00.

Hedge Funds Weigh In On SBA Communications

Several institutional investors have recently modified their holdings of SBAC. SG Americas Securities LLC boosted its stake in SBA Communications by 191.3% in the first quarter. SG Americas Securities LLC now owns 25,828 shares of the technology company’s stock worth $5,597,000 after buying an additional 16,962 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of SBA Communications by 2.8% in the 4th quarter. Franklin Resources Inc. now owns 707,743 shares of the technology company’s stock worth $179,547,000 after acquiring an additional 19,462 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of SBA Communications in the 4th quarter valued at $7,422,000. Wellington Management Group LLP grew its holdings in shares of SBA Communications by 596.2% during the 4th quarter. Wellington Management Group LLP now owns 225,128 shares of the technology company’s stock valued at $57,113,000 after purchasing an additional 192,791 shares during the last quarter. Finally, Clear Rock Advisors LLC purchased a new position in SBA Communications in the 4th quarter worth $1,900,000. 97.35% of the stock is currently owned by institutional investors.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.