Could SBA Communications Corporation Rise More? The Stock Had Bearish Options Activity

 Could SBA Communications Corporation Rise More? The Stock Had Bearish Options Activity

In today’s session SBA Communications Corporation (SBAC) recorded an unusually high (220) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious SBAC decrease. With 220 contracts traded and 2034 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: SBAC161118P00095000 closed last at: $0.3 or 25% down. About 758,788 shares traded hands. SBA Communications Corporation (NASDAQ:SBAC) has risen 5.98% since April 4, 2016 and is uptrending. It has outperformed by 4.89% the S&P500.

SBA Communications Corporation (NASDAQ:SBAC) Ratings Coverage

Out of 8 analysts covering SBA Communications (NASDAQ:SBAC), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. $143 is the highest target while $102 is the lowest. The $123.56 average target is 14.57% above today’s ($107.85) stock price. SBA Communications has been the topic of 18 analyst reports since August 26, 2015 according to StockzIntelligence Inc. The stock of SBA Communications Corporation (NASDAQ:SBAC) has “Buy” rating given on Tuesday, September 13 by SunTrust. The firm has “Buy” rating given on Tuesday, May 3 by Stifel Nicolaus. As per Tuesday, January 26, the company rating was upgraded by Stifel Nicolaus. The stock of SBA Communications Corporation (NASDAQ:SBAC) has “” rating given on Friday, November 6 by Pacific Crest. JP Morgan downgraded SBA Communications Corporation (NASDAQ:SBAC) rating on Tuesday, May 3. JP Morgan has “Neutral” rating and $115 price target. Citigroup maintained the shares of SBAC in a report on Monday, July 11 with “Buy” rating. Deutsche Bank maintained the stock with “Hold” rating in Friday, May 27 report. Macquarie Research downgraded the shares of SBAC in a report on Monday, October 5 to “Neutral” rating. The stock has “Neutral” rating given by Citigroup on Friday, October 2. The company was upgraded on Monday, January 4 by Citigroup.

According to Zacks Investment Research, “SBA Communications Corp. is a leading independent owner and operator of wireless communications infrastructure in the United States. The company generates revenue from two primary businesses — site leasing and site development services. The primary focus of the company is the leasing of antenna space on its multi- tenant towers to a variety of wireless service providers under long-term lease contracts. (PRESS RELEASE)”

Insitutional Activity: The institutional sentiment increased to 0.96 in 2016 Q2. Its up 0.01, from 0.95 in 2016Q1. The ratio increased, as 37 funds sold all SBA Communications Corporation shares owned while 138 reduced positions. 48 funds bought stakes while 120 increased positions. They now own 115.47 million shares or 4.10% less from 120.41 million shares in 2016Q1.
San Francisco Sentry Invest Gp (Ca) holds 0.13% or 1,975 shares in its portfolio. Tudor Investment Et Al accumulated 5,922 shares or 0.01% of the stock. Brown Advisory Limited Liability Company owns 5,078 shares or 0.17% of their US portfolio. Quantitative Inv Limited Liability Company has invested 0.08% of its portfolio in SBA Communications Corporation (NASDAQ:SBAC). Comerica Natl Bank accumulated 15,527 shares or 0.02% of the stock. Old Mutual Customised Solutions (Proprietary) Limited accumulated 0.05% or 1,800 shares. Henderson Gp Plc last reported 14,212 shares in the company. Axel Ltd accumulated 0.67% or 7,000 shares. Commerce National Bank, a Missouri-based fund reported 3,032 shares. Amalgamated Bank reported 7,140 shares or 0.05% of all its holdings. Joel Isaacson Limited Liability Com has 24 shares for 0% of their US portfolio. Metropolitan Life Ny holds 0.01% of its portfolio in SBA Communications Corporation (NASDAQ:SBAC) for 7,306 shares. Meiji Yasuda Asset Mngmt Company reported 3,490 shares or 0.05% of all its holdings. Eagle Asset Management has 328,680 shares for 0.25% of their US portfolio. The Iowa-based Principal Fincl Grp Inc has invested 0.78% in SBA Communications Corporation (NASDAQ:SBAC).

Insider Transactions: Since June 16, 2016, the stock had 2 insider buys, and 3 sales for $14.22 million net activity. $11.62M worth of SBA Communications Corporation (NASDAQ:SBAC) was sold by STOOPS JEFFREY. Krouse George R Jr sold $181,290 worth of stock. 1,000 shares were bought by COCROFT DUNCAN, worth $100,160. $2.57M worth of SBA Communications Corporation (NASDAQ:SBAC) was sold by SILBERSTEIN JASON V on Tuesday, August 9.

SBA Communications Corporation is an independent owner and operator of wireless communications tower structures, rooftops and other structures that support antennas used for wireless communications. The company has a market cap of $13.44 billion. The Company’s operating divisions include site leasing and site development. It currently has negative earnings. The site leasing business includes divisions, domestic site leasing and international site leasing.

SBAC Company Profile

SBA Communications Corporation, incorporated 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 Company’s operating divisions include site leasing and site development. The site leasing business includes divisions, domestic site leasing and international site leasing. The Company’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 Firm owns approximately 25,460 towers. The Firm also manages or leases approximately 5,500 actual or potential towers. The Company’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 Company’s principal activities are in the United States and its territories. In addition, it owns and operates towers in Canada, Central America and South America.

More news for SBA Communications Corporation (NASDAQ:SBAC) were recently published by: Globenewswire.com, which released: “SBA Communications Corporation Announces Pricing of $700 Million of Secured …” on June 21, 2016. Globenewswire.com‘s article titled: “SBA Communications Corporation Announces Pricing of $1.1 Billion of 4.875 …” and published on August 02, 2016 is yet another important article.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment