SBA Communications Corporation (SBAC) Hits New 1-Year High at $141.62

SBA Communications Corporation (NASDAQ:SBAC)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $141.62 and last traded at $141.46, with a volume of 262,846 shares traded. The stock had previously closed at $140.49.

Several research firms have recently commented on SBAC. BidaskClub raised shares of SBA Communications Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Jefferies Group LLC boosted their target price on shares of SBA Communications Corporation from $150.00 to $159.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Barclays PLC reissued an “overweight” rating and issued a $148.00 target price on shares of SBA Communications Corporation in a report on Tuesday, August 1st. Royal Bank Of Canada reissued a “buy” rating on shares of SBA Communications Corporation in a report on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded shares of SBA Communications Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. SBA Communications Corporation presently has a consensus rating of “Buy” and an average target price of $141.57.

The stock has a market cap of $17.30 billion, a price-to-earnings ratio of 493.88 and a beta of 0.73. The firm’s 50-day moving average price is $137.04 and its 200-day moving average price is $126.19.

SBA Communications Corporation (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, July 31st. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by $0.01. SBA Communications Corporation had a net margin of 2.19% and a negative return on equity of 2.64%. The firm had revenue of $427.30 million during the quarter, compared to analysts’ expectations of $426.10 million. During the same quarter in the previous year, the business posted $1.48 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities analysts expect that SBA Communications Corporation will post $0.92 EPS for the current fiscal year.

In other news, EVP Jason V. Silberstein sold 48,930 shares of SBA Communications Corporation stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $136.32, for a total transaction of $6,670,137.60. Following the transaction, the executive vice president now owns 24,231 shares in the company, valued at approximately $3,303,169.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark R. Ciarfella sold 9,655 shares of SBA Communications Corporation stock in a transaction on Friday, August 4th. The stock was sold at an average price of $140.74, for a total value of $1,358,844.70. Following the transaction, the executive vice president now owns 21,403 shares in the company, valued at approximately $3,012,258.22. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,415 shares of company stock worth $9,515,998. Insiders own 2.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Bank & Trust raised its position in SBA Communications Corporation by 0.3% in the first quarter. First Bank & Trust now owns 4,086 shares of the technology company’s stock valued at $492,000 after buying an additional 13 shares in the last quarter. Atria Investments LLC raised its position in SBA Communications Corporation by 0.6% in the first quarter. Atria Investments LLC now owns 3,283 shares of the technology company’s stock valued at $395,000 after buying an additional 21 shares in the last quarter. Tealwood Asset Management Inc. raised its position in SBA Communications Corporation by 0.3% in the second quarter. Tealwood Asset Management Inc. now owns 12,115 shares of the technology company’s stock valued at $1,634,000 after buying an additional 35 shares in the last quarter. Cadence Capital Management LLC raised its position in SBA Communications Corporation by 0.8% in the second quarter. Cadence Capital Management LLC now owns 4,860 shares of the technology company’s stock valued at $656,000 after buying an additional 40 shares in the last quarter. Finally, Global X Management Co. LLC raised its position in SBA Communications Corporation by 3.9% in the first quarter. Global X Management Co. LLC now owns 1,856 shares of the technology company’s stock valued at $223,000 after buying an additional 69 shares in the last quarter. Institutional investors and hedge funds own 99.23% of the company’s stock.

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SBA Communications Corporation Company Profile

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.

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