It is currently trading at $157.18 which is slightly above the 50 day moving average of $147.36 and significantly above the 200 day moving average of $139.04. The 50 day moving average went up $9.82 or +6.67% whereas the 200 day average was up by +13.05%. SBA Communications Corporation shares had a trading volume of 2,149K on Tuesday. Volume was up 97.13% over the stocks average daily volume.
Short traders are feeling a little more bullish on SBA Communications Corporation of late if you pay attention to the change in short interest. The company saw a fall in short interest of -2.94% between September 29, 2017 and October 13, 2017. Short shares decreased from 4,679,426 to 4,542,005 over that timeframe. The short-interest ratio increased to 5.0 and the percentage of shorted shares was 0.04% on October 13.
There has been some selling insider activity on SBA Communications Corporation (NASDAQ:SBAC) recently. Brian D. Lazarus, Sr VP disclosed the sale of 7,376 shares of SBAC stock. The shares were purchased at an average price of $151.79. Lazarus now owns $1,540,517 of the stock per the Form 4 SEC filing.
These funds have shifted positions in (SBAC). Norges Bank reduced its position by selling 352,940 shares a decrease of 56.2% in the quarter. Norges Bank currently owns 275,150 shares valued at $29,700,000. The total value of its holdings decreased 52.8%. Cibc World Markets Corp grew its ownership by buying 24,590 shares an increase of 1,020.3% as of 06/30/2017. Cibc World Markets Corp controls 27,000 shares with a value of $3,642,000. The value of the position overall is up by 1,248.9%.
Akre Capital Management LLC augmented its holdings by buying 600,000 shares an increase of 32.2%. Akre Capital Management LLC owns 2,465,000 shares worth $332,528,000. The total value of its holdings increased 65.2%. Permit Capital, LLC cut its investment by selling 20,565 shares a decrease of 3.1% from 03/31/2017 to 06/30/2017. Permit Capital, LLC now holds 639,549 shares valued at $86,275,000. The value of the position overall is up by 8.6%.
July 14 investment analysts at Deutsche Bank kept the company rating at “Hold” but moved up the price target from $102.00 to $150.00. On August 28 Citigroup kept the stock rating at “Neutral” and raised the price expectation to $168.00 from $132.00.
The most current P/E ratio is 540.14 and market capitalization is 18.92B. In the latest earnings report the EPS was $0.29 and is expected to be $0.98 for the current year with 120,357,000 shares outstanding. Next quarter’s EPS is forecasted at $0.32 and the next full year EPS is projected to be $1.65.
SBA Communications Corporation, launched on December 23, 1996, is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The Business’s operating segments include site leasing and site development. The site leasing business includes segments, domestic site leasing and international site leasing. The Business’s primary business line is its site leasing business. In its site leasing business, the Company leases antenna space to wireless service providers on towers that it owns or operates, and manages rooftop and tower sites for property owners under various contractual arrangements. The Company owns approximately 25,460 towers. The Company also manages or leases approximately 5,500 actual or potential towers. The Business’s other business line is its site development business, through which it assists wireless service providers in developing and maintaining their own wireless service networks. The Business’s principal operations are in the United States and its territories. In addition, it owns and operates towers in Canada, Central America and South America..