Yesterday it was reported that the Executive VP of SBA Communications Corporation (SBAC), Thomas P. Hunt, exercised options to buy 51,664 SBAC shares at $41.30 a share, for a total transaction value of $2.13M. The options were close to expired and Thomas P. Hunt retained stocks.
Following this transaction Thomas P. Hunt’s holding in the company was increased by 86.13% to a total of $29.41 million. Following Thomas P. Hunt’s last SBAC Buy transaction on November 20, 2018, the stock climbed by 13.5%.
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Based on SBA Communications Corporation’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $484 million and quarterly net profit of $57.15 million. In comparison, last year the company earned revenue of $443 million and had a net profit of $7.66 million. SBAC’s market cap is $20.5B and the company has a P/E ratio of 444.63. Currently, SBA Communications Corporation has an average volume of 399.5K.
Based on 3 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $187.33, reflecting a 2.8% upside.
In the last 30 days, insiders have sold $24.78M worth of SBAC shares and purchased $2.13M worth of SBAC shares. The insider sentiment on SBA Communications Corporation has been negative according to 54 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.
