The Chief Executive Officer & Pres of SBA Communications Corporation (NASDAQ: SBAC) is Selling Shares

By Carrie Williams

Yesterday, the Chief Executive Officer & Pres of SBA Communications Corporation (SBACResearch Report), Jeffrey Stoops, sold shares of SBAC for $8.28M.

Following Jeffrey Stoops’ last SBAC Sell transaction on March 22, 2019, the stock climbed by 23.4%. This is Stoops’ first Sell trade following 3 Buy transactions.

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Based on SBA Communications Corporation’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $493 million and quarterly net profit of $25.99 million. In comparison, last year the company earned revenue of $458 million and had a net profit of $31.55 million. SBAC’s market cap is $24.96B and the company has a P/E ratio of 595.95. Currently, SBA Communications Corporation has an average volume of 462.7K.

Based on 9 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $216.86, reflecting a -1.7% downside.

The insider sentiment on SBA Communications Corporation has been negative according to 63 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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SBA Communications Corp. is a real estate investment trust, which engages in the provision of wireless communications infrastructures. It operates through the following business segments: Domestic Site Leasing, International Site Leasing, and Site Development. The Domestic Site Leasing segment includes AT&T, Sprint, T-Mobile, and Verizon Wireless.