Insider Selling: SBA Communications Co. (NASDAQ:SBAC) EVP Sells $4,344,249.60 in Stock

SBA Communications Co. (NASDAQ:SBAC) EVP Kurt L. Bagwell sold 17,055 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $254.72, for a total transaction of $4,344,249.60. Following the completion of the transaction, the executive vice president now owns 57,573 shares in the company, valued at $14,664,994.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of NASDAQ SBAC opened at $259.85 on Friday. The stock has a fifty day moving average price of $238.29 and a 200 day moving average price of $210.33. SBA Communications Co. has a 1-year low of $146.13 and a 1-year high of $260.64. The company has a market cap of $28.86 billion, a PE ratio of 34.19, a P/E/G ratio of 3.25 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, July 29th. The technology company reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.86 by ($1.58). SBA Communications had a negative return on equity of 4.12% and a net margin of 6.75%. The company had revenue of $500.10 million for the quarter, compared to analyst estimates of $489.09 million. During the same period in the prior year, the business earned ($0.50) earnings per share. SBA Communications’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, research analysts expect that SBA Communications Co. will post 7.83 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, August 28th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Tuesday, August 27th.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allstate Corp lifted its holdings in shares of SBA Communications by 4.1% during the first quarter. Allstate Corp now owns 3,393 shares of the technology company’s stock worth $677,000 after purchasing an additional 135 shares during the period. TCW Group Inc. lifted its holdings in SBA Communications by 6.0% in the first quarter. TCW Group Inc. now owns 19,745 shares of the technology company’s stock valued at $3,943,000 after acquiring an additional 1,113 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in SBA Communications by 6.6% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 46,762 shares of the technology company’s stock valued at $10,514,000 after acquiring an additional 2,900 shares during the period. Swiss National Bank lifted its holdings in SBA Communications by 1.3% in the first quarter. Swiss National Bank now owns 378,551 shares of the technology company’s stock valued at $75,581,000 after acquiring an additional 5,000 shares during the period. Finally, FDx Advisors Inc. lifted its holdings in SBA Communications by 24.6% in the second quarter. FDx Advisors Inc. now owns 4,969 shares of the technology company’s stock valued at $1,117,000 after acquiring an additional 982 shares during the period. 94.07% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have commented on SBAC shares. UBS Group lowered shares of SBA Communications from a “buy” rating to a “neutral” rating and increased their price target for the company from $209.00 to $240.00 in a research note on Friday, June 7th. TheStreet upgraded shares of SBA Communications from a “c” rating to a “b-” rating in a research note on Monday, July 29th. KeyCorp increased their price target on shares of SBA Communications from $252.00 to $259.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. SunTrust Banks increased their price target on shares of SBA Communications to $255.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, BidaskClub upgraded shares of SBA Communications from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $228.31.

About SBA Communications

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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Insider Buying and Selling by Quarter for SBA Communications (NASDAQ:SBAC)

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