SBA Communications Co. (NASDAQ:SBAC) Short Interest Update

by · The Cerbat Gem

SBA Communications Co. (NASDAQ:SBAC – Get Free Report) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 1,100,000 shares, a drop of 57.7% from the October 15th total of 2,600,000 shares. Based on an average daily trading volume, of 835,400 shares, the days-to-cover ratio is presently 1.3 days. Approximately 1.0% of the shares of the stock are sold short.

SBA Communications Stock Down 0.2 %

Shares of SBAC traded down $0.54 during midday trading on Wednesday, hitting $219.06. The company had a trading volume of 291,077 shares, compared to its average volume of 925,884. The company’s 50 day moving average price is $237.29 and its 200 day moving average price is $215.99. The stock has a market cap of $23.55 billion, a price-to-earnings ratio of 34.79, a PEG ratio of 0.74 and a beta of 0.68. SBA Communications has a 52 week low of $183.64 and a 52 week high of $258.76.

SBA Communications (NASDAQ:SBAC – Get Free Report) last released its earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate 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 business had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. During the same period in the prior year, the company earned $3.34 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. Equities analysts anticipate that SBA Communications will post 12.56 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s dividend payout ratio is presently 61.83%.

Insider Activity at SBA Communications

In related news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the sale, the director now owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SBA Communications

A number of large investors have recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in SBA Communications in the third quarter worth approximately $26,000. Ridgewood Investments LLC bought a new stake in SBA Communications in the second quarter worth approximately $32,000. Capital Performance Advisors LLP bought a new stake in SBA Communications in the third quarter worth approximately $35,000. Family Firm Inc. bought a new stake in SBA Communications in the second quarter worth approximately $36,000. Finally, Global X Japan Co. Ltd. bought a new stake in SBA Communications in the second quarter worth approximately $49,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SBAC shares. Wells Fargo & Company upped their price objective on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. KeyCorp raised their price target on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, October 14th. JPMorgan Chase & Co. lifted their price target on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Morgan Stanley boosted their target price on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Finally, StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and a consensus price target of $257.23.

View Our Latest Research Report on SBAC

SBA Communications Company Profile

(Get Free Report)

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.

Featured Stories