SBA Stock Eclipses 52-Week Low

BOCA RATON, FL-Stock in SBA Communications Corp. dropped below the 52-week low on Wednesday, despite a disclosure by the company president that he exercised some of his employee stock options.

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.