Company Shares of SBA Communications Corporation (NASDAQ:SBAC) Rally 4.11%

SBA Communications Corporation (NASDAQ:SBAC) : Traders are bullish on SBA Communications Corporation (NASDAQ:SBAC) as it has outperformed the S&P 500 by a wide margin of 11.46% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.8%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.11% in the last 1 week, and is up 13.26% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The company shares have dropped -1.17% from its 1 Year high price. On Aug 18, 2015, the shares registered one year high at $128.47 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $102.94 and the 200 Day Moving Average price is recorded at $99.30.

The stock has recorded a 20-day Moving Average of 9.82% and the 50-Day Moving Average is 12.11%.


SBA Communications Corporation (NASDAQ:SBAC): stock turned positive on Friday. Though the stock opened at $111.57, the bulls momentum made the stock top out at $114.56 level for the day. The stock recorded a low of $110.5584 and closed the trading day at $114.41, in the green by 3.43%. The total traded volume for the day was 1,527,404. The stock had closed at $110.62 in the previous days trading.

In an insider trading activity, Cocroft Duncan, director of Sba Communications Corp, executed a transaction worth $100,160 on June 16, 2016. A total of 1,000 shares were purchased at an average price of $100.16. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

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 operated through two segments, namely site leasing and site development. The Companys 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 manage rooftop and tower sites for property owners under various contractual arrangements. It also managed or leased approximately 5,000 actual or potential towers. Its 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 Companys principal operations are in the United States and its territories. In addition, it owns and operates towers in Canada, Central America, and South America.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.