Brian C. Carr Sells 800 Shares of SBA Communications Co. (SBAC) Stock

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SBA Communications Co. (NASDAQ:SBAC) Director Brian C. Carr sold 800 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $155.00, for a total transaction of $124,000.00. Following the sale, the director now directly owns 3,070 shares in the company, valued at $475,850. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of NASDAQ SBAC opened at $157.82 on Friday. SBA Communications Co. has a 52-week low of $140.62 and a 52-week high of $177.67. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of -3.18.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, July 30th. The technology company reported ($0.50) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.68). The firm had revenue of $456.30 million during the quarter, compared to analyst estimates of $457.43 million. SBA Communications had a negative return on equity of 1.26% and a net margin of 1.73%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 EPS. analysts anticipate that SBA Communications Co. will post 7.43 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of SBAC. Nomura Asset Management Co. Ltd. lifted its position in shares of SBA Communications by 2.0% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 16,213 shares of the technology company’s stock valued at $2,771,000 after acquiring an additional 321 shares during the period. Bronfman E.L. Rothschild L.P. lifted its position in shares of SBA Communications by 53.7% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 936 shares of the technology company’s stock valued at $160,000 after acquiring an additional 327 shares during the period. Atria Investments LLC lifted its position in shares of SBA Communications by 8.8% during the 2nd quarter. Atria Investments LLC now owns 4,210 shares of the technology company’s stock valued at $695,000 after acquiring an additional 340 shares during the period. Suntrust Banks Inc. lifted its position in shares of SBA Communications by 12.2% during the 1st quarter. Suntrust Banks Inc. now owns 3,537 shares of the technology company’s stock valued at $603,000 after acquiring an additional 384 shares during the period. Finally, TD Asset Management Inc. lifted its position in shares of SBA Communications by 0.4% during the 2nd quarter. TD Asset Management Inc. now owns 100,820 shares of the technology company’s stock valued at $16,647,000 after acquiring an additional 391 shares during the period. Hedge funds and other institutional investors own 92.91% of the company’s stock.

SBAC has been the topic of a number of research reports. BidaskClub lowered shares of SBA Communications from a “sell” rating to a “strong sell” rating in a report on Saturday, August 11th. Zacks Investment Research raised shares of SBA Communications from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 25th. Deutsche Bank boosted their target price on shares of SBA Communications from $170.00 to $183.00 and gave the stock a “hold” rating in a report on Wednesday, August 1st. ValuEngine lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Morgan Stanley reduced their target price on shares of SBA Communications from $182.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, May 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $181.40.

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.

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