Insider Selling: SBA Communications Co. (NASDAQ:SBAC) EVP Sells $472,161.03 in Stock

SBA Communications Co. (NASDAQ:SBAC) EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

SBA Communications Stock Performance

Shares of SBAC stock opened at $202.56 on Thursday. The stock’s 50-day moving average is $224.00 and its two-hundred day moving average is $220.73. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $256.68. The firm has a market cap of $21.78 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 0.72 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $669.29 million. During the same quarter in the prior year, the business earned $3.34 EPS. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, research analysts predict that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Thursday, November 14th. SBA Communications’s dividend payout ratio is currently 61.83%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SBAC. Synovus Financial Corp increased its position in SBA Communications by 13.0% in the 3rd quarter. Synovus Financial Corp now owns 13,222 shares of the technology company’s stock valued at $3,183,000 after acquiring an additional 1,522 shares during the period. Tidal Investments LLC grew its stake in shares of SBA Communications by 8.8% in the 3rd quarter. Tidal Investments LLC now owns 2,868 shares of the technology company’s stock valued at $690,000 after purchasing an additional 233 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of SBA Communications by 19.6% in the third quarter. Wilmington Savings Fund Society FSB now owns 1,573 shares of the technology company’s stock valued at $379,000 after purchasing an additional 258 shares during the period. Sanctuary Advisors LLC raised its stake in shares of SBA Communications by 19.4% during the third quarter. Sanctuary Advisors LLC now owns 5,672 shares of the technology company’s stock worth $1,252,000 after purchasing an additional 921 shares during the last quarter. Finally, TCW Group Inc. acquired a new stake in shares of SBA Communications during the third quarter worth $3,505,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Morgan Stanley boosted their price target on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. BMO Capital Markets restated a “market perform” rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. TD Cowen boosted their price objective on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price target on shares of SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Finally, Barclays boosted their price target on shares of SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and an average target price of $254.92.

SBA Communications Company Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.