GuruFocus - On August 2, 2024, Meyer Robert Joseph JR, Senior Vice President & Chief Accounting Officer of American Tower Corp (NYSE:AMT), sold 2,181 shares of the company. The transaction was documented in a recent SEC Filing. Following this sale, the insider now owns 31,873 shares of American Tower Corp.
American Tower Corp (NYSE:AMT) is a global provider of wireless and broadcast towers, in-building and outdoor Distributed Antenna System (DAS) networks, managed rooftops, and services that speed network deployment. The company's primary business is leasing space on multi-tenant communications sites to wireless service providers and radio and television broadcast companies.
Over the past year, Meyer Robert Joseph JR has sold a total of 2,181 shares and has not purchased any shares. The insider transaction history for American Tower Corp shows a trend with 0 insider buys and 17 insider sells over the past year.
On the day of the sale, shares of American Tower Corp were trading at $232.93, giving the company a market cap of approximately $106.57 billion. The price-earnings ratio of the stock stands at 42.89, which is above the industry median of 16.82.
The stock's valuation according to the GF Value is $220.81, leading to a price-to-GF-Value ratio of 1.05, indicating that the stock is Fairly Valued. The GF Value is calculated based on historical multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This insider sale could be of interest to investors tracking insider behaviors and company stock valuation metrics.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
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