Jack Langer Sells 5,000 Shares of SBA Communications Co. (NASDAQ:SBAC) Stock

SBA Communications Co. (NASDAQ:SBAC - Get Free Report) Director Jack Langer sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the sale, the director now owns 10,522 shares in the company, valued at $2,531,487.98. The trade was a 32.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC traded down $0.01 during midday trading on Monday, hitting $241.95. 700,854 shares of the stock were exchanged, compared to its average volume of 897,869. The stock has a market capitalization of $26.04 billion, a price-to-earnings ratio of 38.16, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 12 month low of $185.44 and a 12 month high of $252.64. The business's 50-day moving average price is $221.64 and its 200 day moving average price is $216.22.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be issued a $1.11 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.84%. SBA Communications's dividend payout ratio is presently 60.91%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Evermay Wealth Management LLC bought a new position in shares of SBA Communications in the fourth quarter worth $27,000. Independence Bank of Kentucky bought a new stake in shares of SBA Communications during the first quarter valued at about $28,000. Graney & King LLC purchased a new stake in shares of SBA Communications in the fourth quarter worth about $29,000. Allworth Financial LP grew its stake in SBA Communications by 62.0% during the first quarter. Allworth Financial LP now owns 162 shares of the technology company's stock valued at $36,000 after acquiring an additional 62 shares in the last quarter. Finally, NBC Securities Inc. increased its holdings in SBA Communications by 1,575.0% during the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock worth $44,000 after acquiring an additional 189 shares during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SBAC shares. BMO Capital Markets boosted their target price on shares of SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 29th. Wells Fargo & Company raised their price objective on SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Morgan Stanley assumed coverage on SBA Communications in a research report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price target for the company. Barclays raised their target price on shares of SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a report on Tuesday, April 29th. Finally, Citizens Jmp raised SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, SBA Communications presently has a consensus rating of "Moderate Buy" and a consensus target price of $252.38.

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.

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