.png "SBA Comms (NASDAQ: SBAC)")
Today it was reported that the EVP – Site Leasing of SBA Comms (NASDAQ: SBAC), Jason Silberstein, exercised options to buy 1,046 SBAC shares at $95.53 a share, for a total transaction value of $99.92K.
This is Silberstein’s first Buy trade following 9 Sell transactions. Following this transaction Jason Silberstein’s holding in the company was increased by 6.61% to a total of $2.69 million.
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Based on SBA Comms’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $456 million and GAAP net loss of $57.39 million. In comparison, last year the company earned revenue of $427 million and had a net profit of $9.23 million. SBAC’s market cap is $18.32B and the company has a P/E ratio of 670. Currently, SBA Comms has an average volume of 721.2K.
Based on 6 analyst ratings, the analyst consensus is Strong Buy with an average price target of $183.33, reflecting a 14.0% upside. Five different firms, including Morgan Stanley and Cowen & Co., currently also have a Buy rating on the stock.
In the last 30 days, insiders have sold $802 worth of SBAC shares and purchased $99.92K worth of SBAC shares. The insider sentiment on SBA Comms has been negative according to 50 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.
Jason Silberstein’s trades have generated a -16.7% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.
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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.
