Kurt L. Bagwell Sells 17,055 Shares of SBA Communications Co. (NASDAQ:SBAC) Stock

SBA Communications Co. (NASDAQ:SBAC) EVP Kurt L. Bagwell sold 17,055 shares of SBA Communications stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $254.72, for a total value of $4,344,249.60. Following the sale, the executive vice president now owns 57,573 shares of the company’s stock, valued at approximately $14,664,994.56. The transaction was disclosed in a document filed with the SEC, which is available at this link.

SBAC opened at $259.85 on Friday. The stock has a market capitalization of $28.86 billion, a price-to-earnings ratio of 34.19, a price-to-earnings-growth ratio of 3.25 and a beta of 0.69. The business has a 50-day moving average of $238.29 and a two-hundred day moving average of $210.33. SBA Communications Co. has a 12 month low of $146.13 and a 12 month high of $260.64.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, July 29th. The technology company reported $0.28 EPS for the quarter, missing the consensus estimate of $1.86 by ($1.58). The business had revenue of $500.10 million during the quarter, compared to analysts’ expectations of $489.09 million. SBA Communications had a net margin of 6.75% and a negative return on equity of 4.12%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.50) EPS. Equities research analysts predict that SBA Communications Co. will post 7.83 EPS for the current year.

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

SBAC has been the subject of a number of recent research reports. TheStreet upgraded SBA Communications from a “c” rating to a “b-” rating in a research report on Monday, July 29th. Cowen lifted their price objective on SBA Communications from $203.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. BidaskClub upgraded SBA Communications from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 9th. ValuEngine upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. Finally, Bank of America reiterated a “neutral” rating and set a $260.00 price objective (up previously from $245.00) on shares of SBA Communications in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $228.31.

A number of institutional investors and hedge funds have recently bought and sold shares of SBAC. Spectrum Management Group Inc. purchased a new stake in SBA Communications in the 1st quarter valued at about $27,000. Advisory Services Network LLC lifted its stake in shares of SBA Communications by 65.4% in the 2nd quarter. Advisory Services Network LLC now owns 129 shares of the technology company’s stock valued at $29,000 after purchasing an additional 51 shares in the last quarter. Redhawk Wealth Advisors Inc. acquired a new position in shares of SBA Communications in the 2nd quarter valued at about $29,000. Certified Advisory Corp acquired a new position in shares of SBA Communications in the 2nd quarter valued at about $31,000. Finally, Berman Capital Advisors LLC lifted its stake in shares of SBA Communications by 103.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 155 shares of the technology company’s stock valued at $34,000 after purchasing an additional 79 shares in the last quarter. Institutional investors own 94.07% of the company’s stock.

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.

Featured Story: How can investors benefit from after-hours trading?

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

Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.