Traders Buy Shares of SBA Communications (SBAC) on Weakness After Insider Selling

Investors bought shares of SBA Communications Co. (NASDAQ:SBAC) on weakness during trading hours on Tuesday following insider selling activity. $33.11 million flowed into the stock on the tick-up and $18.30 million flowed out of the stock on the tick-down, for a money net flow of $14.81 million into the stock. Of all stocks tracked, SBA Communications had the 24th highest net in-flow for the day. SBA Communications traded down ($1.97) for the day and closed at $162.72Specifically, EVP Mark R. Ciarfella sold 10,617 shares of the business’s stock in a transaction on Tuesday, June 5th. The stock was sold at an average price of $160.12, for a total transaction of $1,699,994.04. Following the sale, the executive vice president now directly owns 20,341 shares in the company, valued at approximately $3,257,000.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kurt L. Bagwell sold 126,605 shares of the company’s stock in a transaction dated Friday, June 29th. The stock was sold at an average price of $165.06, for a total value of $20,897,421.30. Following the completion of the transaction, the executive vice president now owns 42,089 shares in the company, valued at $6,947,210.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 226,984 shares of company stock worth $37,231,290. 2.70% of the stock is currently owned by corporate insiders.

A number of brokerages have weighed in on SBAC. BidaskClub upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. Morgan Stanley decreased their target price on SBA Communications from $182.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, May 31st. Finally, ValuEngine upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $175.54.

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The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of -3.62. The firm has a market capitalization of $18.97 billion, a PE ratio of 173.36, a PEG ratio of 17.90 and a beta of 0.86.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, April 30th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.07. SBA Communications had a negative return on equity of 4.79% and a net margin of 5.54%. The firm had revenue of $458.30 million during the quarter, compared to analysts’ expectations of $453.50 million. During the same period in the prior year, the business earned $1.69 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. analysts expect that SBA Communications Co. will post 0.92 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Brown Advisory Inc. boosted its holdings in shares of SBA Communications by 6.9% in the 1st quarter. Brown Advisory Inc. now owns 2,915,534 shares of the technology company’s stock worth $498,323,000 after purchasing an additional 188,905 shares in the last quarter. Avalon Advisors LLC boosted its holdings in shares of SBA Communications by 10.4% in the 1st quarter. Avalon Advisors LLC now owns 9,595 shares of the technology company’s stock worth $1,640,000 after purchasing an additional 906 shares in the last quarter. Suntrust Banks Inc. boosted its holdings in shares of SBA Communications by 12.2% in the 1st quarter. Suntrust Banks Inc. now owns 3,537 shares of the technology company’s stock worth $603,000 after purchasing an additional 384 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of SBA Communications by 7.7% in the 1st quarter. Amalgamated Bank now owns 17,038 shares of the technology company’s stock worth $2,912,000 after purchasing an additional 1,225 shares in the last quarter. Finally, Summit Trail Advisors LLC boosted its holdings in shares of SBA Communications by 11,423.6% in the 1st quarter. Summit Trail Advisors LLC now owns 219,639 shares of the technology company’s stock worth $220,000 after purchasing an additional 217,733 shares in the last quarter. Hedge funds and other institutional investors own 94.13% 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.

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