SBA Communications Corporation (NASDAQ:SBAC) SVP Brian D. Lazarus sold 7,376 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $151.79, for a total transaction of $1,119,603.04. Following the transaction, the senior vice president now owns 17,525 shares in the company, valued at $2,660,119.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

SBA Communications Corporation (NASDAQ SBAC) opened at 152.00 on Wednesday. SBA Communications Corporation has a 52 week low of $95.66 and a 52 week high of $153.13. The company’s 50 day moving average is $139.18 and its 200 day moving average is $128.10. The stock has a market cap of $18.29 billion, a P/E ratio of 522.34 and a beta of 0.73.

SBA Communications Corporation (NASDAQ:SBAC) last posted its earnings results on Monday, July 31st. The technology company reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.01. SBA Communications Corporation had a net margin of 2.19% and a negative return on equity of 2.64%. The company had revenue of $427.30 million during the quarter, compared to analyst estimates of $426.10 million. During the same quarter last year, the business posted $1.48 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts predict that SBA Communications Corporation will post $0.94 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This story was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this story on another domain, it was illegally stolen and republished in violation of international trademark & copyright legislation. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/08/30/sba-communications-corporation-sbac-svp-brian-d-lazarus-sells-7376-shares.html.

Several brokerages have weighed in on SBAC. Raymond James Financial, Inc. restated an “outperform” rating on shares of SBA Communications Corporation in a research report on Monday, June 12th. Stifel Nicolaus set a $148.00 target price on shares of SBA Communications Corporation and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. BidaskClub upgraded shares of SBA Communications Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 22nd. Cowen and Company upped their target price on shares of SBA Communications Corporation from $131.00 to $141.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 2nd. Finally, Jefferies Group LLC upped their target price on shares of SBA Communications Corporation from $133.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, May 2nd. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $144.43.

A number of hedge funds have recently bought and sold shares of SBAC. Vanguard Group Inc. increased its position in SBA Communications Corporation by 2.8% in the second quarter. Vanguard Group Inc. now owns 9,869,843 shares of the technology company’s stock valued at $1,331,442,000 after buying an additional 272,381 shares during the period. BlackRock Inc. increased its position in SBA Communications Corporation by 2,233.0% in the first quarter. BlackRock Inc. now owns 8,450,685 shares of the technology company’s stock valued at $1,017,210,000 after buying an additional 8,088,459 shares during the period. Principal Financial Group Inc. increased its position in SBA Communications Corporation by 1.1% in the first quarter. Principal Financial Group Inc. now owns 5,644,327 shares of the technology company’s stock valued at $679,407,000 after buying an additional 60,436 shares during the period. William Blair Investment Management LLC increased its position in SBA Communications Corporation by 8.7% in the second quarter. William Blair Investment Management LLC now owns 2,682,091 shares of the technology company’s stock valued at $361,814,000 after buying an additional 215,709 shares during the period. Finally, Iridian Asset Management LLC CT increased its position in SBA Communications Corporation by 88.1% in the second quarter. Iridian Asset Management LLC CT now owns 2,641,198 shares of the technology company’s stock valued at $356,298,000 after buying an additional 1,237,008 shares during the period. Hedge funds and other institutional investors own 92.36% of the company’s stock.

SBA Communications Corporation Company Profile

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Company’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing.

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

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