Publicly traded shares in the Boca Raton-based developer-operator of wireless communication tower sites closed down $1.14 at $12 on volume of 1.654 million shares--just 18 cents off the prior 52-week low. The issue has traded as high as $52.25 a piece over the same time period.
Posting of the new low also came as Jeffrey A. Stoops, SBA president, acquired 30,000 shares of SBA common stock on Aug. 23 at a preset price of $8 a share or a total $240,000. Earlier this year, Stoops disposed of about 400,000 shares of SBA stock at a market price of $33.34 for an estimated gross sale of $13.3 million.
The fall also comes as a consensus of stock analysts tracked by Thomson/First Call expects the company to post a net earnings loss of 83 cents a share for the third quarter ending Sept. 30.
The company last reported a net loss of $23.3 million, or 50 cents a share, on revenue of $57.8 million for the second quarter ended June 30, compared with a net loss of $7.9 million, or 20 cents per share, on total revenue of $38.5 million for the same period a year ago.
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