SBA Communications Co. (NASDAQ:SBAC) Director Duncan Cocroft Sells 1,152 Shares

SBA Communications Co. (NASDAQ:SBACGet Rating) Director Duncan Cocroft sold 1,152 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $344.50, for a total transaction of $396,864.00. Following the transaction, the director now owns 64,592 shares in the company, valued at approximately $22,251,944. The sale was disclosed in a filing with the SEC, which is available at this link.

SBA Communications Stock Down 0.3 %

SBAC opened at $345.40 on Friday. The company has a market cap of $37.24 billion, a price-to-earnings ratio of 106.93 and a beta of 0.43. SBA Communications Co. has a 52-week low of $286.41 and a 52-week high of $391.15. The firm’s fifty day simple moving average is $323.52 and its two-hundred day simple moving average is $328.59.

SBA Communications (NASDAQ:SBACGet Rating) last posted its quarterly earnings results on Monday, August 1st. The technology company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.26). The business had revenue of $652.01 million during the quarter, compared to analysts’ expectations of $626.30 million. SBA Communications had a negative return on equity of 6.73% and a net margin of 14.45%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.64 earnings per share. On average, research analysts forecast that SBA Communications Co. will post 11.1 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Stockholders of record on Thursday, August 25th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Wednesday, August 24th. SBA Communications’s dividend payout ratio is currently 87.93%.

Hedge Funds Weigh In On SBA Communications

Several hedge funds and other institutional investors have recently modified their holdings of SBAC. State Board of Administration of Florida Retirement System raised its stake in SBA Communications by 2.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 137,657 shares of the technology company’s stock worth $44,057,000 after purchasing an additional 3,192 shares during the period. M&T Bank Corp raised its stake in SBA Communications by 34.6% during the second quarter. M&T Bank Corp now owns 4,401 shares of the technology company’s stock worth $1,409,000 after purchasing an additional 1,132 shares during the period. Gilbert & Cook Inc. raised its stake in SBA Communications by 6.3% during the second quarter. Gilbert & Cook Inc. now owns 2,660 shares of the technology company’s stock worth $851,000 after purchasing an additional 158 shares during the period. Pinnbrook Capital Management LP raised its stake in SBA Communications by 83.0% during the second quarter. Pinnbrook Capital Management LP now owns 8,677 shares of the technology company’s stock worth $2,777,000 after purchasing an additional 3,935 shares during the period. Finally, Illinois Municipal Retirement Fund raised its stake in SBA Communications by 57.4% during the second quarter. Illinois Municipal Retirement Fund now owns 3,750 shares of the technology company’s stock worth $1,200,000 after purchasing an additional 1,367 shares during the period. 95.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Cowen upped their price target on shares of SBA Communications from $373.00 to $382.00 in a research note on Tuesday, April 26th. Jefferies Financial Group cut their price target on shares of SBA Communications from $383.00 to $347.00 and set a “hold” rating on the stock in a research note on Thursday, June 30th. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Friday, June 10th. Wells Fargo & Company cut their price target on shares of SBA Communications from $390.00 to $355.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 19th. Finally, KeyCorp increased their price objective on shares of SBA Communications from $367.00 to $389.00 and gave the stock an “overweight” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and a consensus target price of $385.88.

About SBA Communications

(Get Rating)

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

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

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