Jeffrey Stoops Sells 80,000 Shares of SBA Communications Co. (SBAC) Stock

SBA Communications Co. (NASDAQ:SBAC) CEO Jeffrey Stoops sold 80,000 shares of SBA Communications stock in a transaction on Friday, November 9th. The shares were sold at an average price of $171.10, for a total value of $13,688,000.00. Following the completion of the sale, the chief executive officer now directly owns 214,943 shares of the company’s stock, valued at $36,776,747.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Jeffrey Stoops also recently made the following trade(s):

  • On Friday, September 14th, Jeffrey Stoops sold 40,000 shares of SBA Communications stock. The shares were sold at an average price of $160.05, for a total value of $6,402,000.00.
  • On Thursday, August 23rd, Jeffrey Stoops sold 40,000 shares of SBA Communications stock. The shares were sold at an average price of $154.16, for a total value of $6,166,400.00.

SBAC traded down $0.01 on Friday, hitting $171.51. 911,257 shares of the company were exchanged, compared to its average volume of 962,439. SBA Communications Co. has a twelve month low of $146.13 and a twelve month high of $177.67.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, November 5th. The technology company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.78 by ($1.64). The company had revenue of $467.20 million for the quarter, compared to analyst estimates of $459.17 million. SBA Communications had a negative return on equity of 0.65% and a negative net margin of 0.11%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.75 earnings per share. As a group, research analysts forecast that SBA Communications Co. will post 7.11 EPS for the current fiscal year.

Several research firms recently commented on SBAC. Citigroup boosted their target price on SBA Communications from $187.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday. BidaskClub cut SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. ValuEngine cut SBA Communications from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Zacks Investment Research raised SBA Communications from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 25th. Finally, Deutsche Bank boosted their target price on SBA Communications from $170.00 to $183.00 and gave the stock a “hold” rating in a research note on Wednesday, August 1st. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $179.80.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Employees Retirement System of Texas lifted its holdings in SBA Communications by 31.3% during the 2nd quarter. Employees Retirement System of Texas now owns 21,000 shares of the technology company’s stock worth $3,468,000 after buying an additional 5,000 shares during the last quarter. Rampart Investment Management Company LLC lifted its holdings in SBA Communications by 167.9% during the 2nd quarter. Rampart Investment Management Company LLC now owns 13,970 shares of the technology company’s stock worth $2,307,000 after buying an additional 8,756 shares during the last quarter. Neuburgh Advisers LLC lifted its holdings in SBA Communications by 9.7% during the 2nd quarter. Neuburgh Advisers LLC now owns 6,446 shares of the technology company’s stock worth $1,064,000 after buying an additional 572 shares during the last quarter. Riverhead Capital Management LLC lifted its holdings in SBA Communications by 9.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 9,815 shares of the technology company’s stock worth $1,621,000 after buying an additional 836 shares during the last quarter. Finally, DF Dent & Co. Inc. lifted its holdings in SBA Communications by 35.5% during the 2nd quarter. DF Dent & Co. Inc. now owns 203,874 shares of the technology company’s stock worth $33,664,000 after buying an additional 53,456 shares during the last quarter. 94.37% of the stock is owned by institutional investors.

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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.

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