Insider Selling: SBA Communications Co. (NASDAQ:SBAC) EVP Sells 3,545 Shares of Stock

SBA Communications Co. (NASDAQ:SBAC) EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

SBA Communications Price Performance

Shares of NASDAQ SBAC traded down $1.17 during mid-day trading on Wednesday, hitting $216.21. The company had a trading volume of 899,269 shares, compared to its average volume of 914,619. The company has a market capitalization of $23.25 billion, a PE ratio of 34.09, a price-to-earnings-growth ratio of 0.74 and a beta of 0.67. The business’s 50-day simple moving average is $230.17 and its 200 day simple moving average is $219.71. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76.

SBA Communications (NASDAQ:SBAC) last posted 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 net margin of 25.76% and a negative return on equity of 13.13%. The company had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. During the same period in the prior year, the business earned $3.34 EPS. SBA Communications’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, analysts expect 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 will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s dividend payout ratio (DPR) is 61.83%.

Analyst Upgrades and Downgrades

SBAC has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price target on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Morgan Stanley upped their price objective on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Finally, BMO Capital Markets upped their price target on SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, SBA Communications has an average rating of “Moderate Buy” and an average target price of $257.23.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. raised its stake in SBA Communications by 2,821.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock worth $292,714,000 after acquiring an additional 1,174,469 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in SBA Communications by 377.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock worth $213,353,000 after buying an additional 700,791 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in SBA Communications in the second quarter valued at approximately $134,738,000. Long Pond Capital LP acquired a new stake in shares of SBA Communications in the second quarter valued at approximately $83,687,000. Finally, AQR Capital Management LLC grew its position in shares of SBA Communications by 500.0% during the second quarter. AQR Capital Management LLC now owns 369,037 shares of the technology company’s stock worth $72,375,000 after acquiring an additional 307,530 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

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.