Gabelli Funds LLC Buys 98,130 Shares of Anterix Inc. $ATEX

Gabelli Funds LLC lifted its stake in shares of Anterix Inc. (NASDAQ:ATEX) by 52.2% during the third quarter, Holdings Channel reports. The fund owned 286,282 shares of the company’s stock after buying an additional 98,130 shares during the quarter. Gabelli Funds LLC’s holdings in Anterix were worth $6,146,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. AlphaQuest LLC increased its stake in Anterix by 12.9% in the third quarter. AlphaQuest LLC now owns 5,435 shares of the company’s stock valued at $117,000 after purchasing an additional 619 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Anterix by 12.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 5,760 shares of the company’s stock worth $148,000 after purchasing an additional 637 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Anterix by 17.0% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,084 shares of the company’s stock worth $182,000 after purchasing an additional 1,029 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its stake in shares of Anterix by 52.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 3,069 shares of the company’s stock valued at $79,000 after buying an additional 1,052 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Anterix by 299.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock valued at $42,000 after buying an additional 1,233 shares in the last quarter. 87.67% of the stock is owned by institutional investors.

Insider Activity at Anterix

In related news, CEO Scott A. Lang bought 1,160 shares of the company’s stock in a transaction dated Thursday, December 18th. The shares were bought at an average price of $21.61 per share, for a total transaction of $25,067.60. Following the completion of the acquisition, the chief executive officer directly owned 8,260 shares of the company’s stock, valued at $178,498.60. This trade represents a 16.34% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 45.61% of the stock is currently owned by company insiders.

Anterix Trading Down 2.5%

Anterix stock opened at $38.62 on Tuesday. The firm has a market capitalization of $723.35 million, a price-to-earnings ratio of 8.88 and a beta of 0.76. The firm’s fifty day moving average price is $28.76 and its two-hundred day moving average price is $23.87. Anterix Inc. has a 1-year low of $17.58 and a 1-year high of $40.33.

Anterix (NASDAQ:ATEX) last posted its earnings results on Wednesday, February 11th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.22. Anterix had a net margin of 1,370.92% and a negative return on equity of 12.26%. The company had revenue of $1.57 million for the quarter, compared to analyst estimates of $1.47 million. On average, research analysts forecast that Anterix Inc. will post -1.53 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ATEX shares. Weiss Ratings downgraded Anterix from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, February 25th. Zacks Research cut Anterix from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $50.00.

Anterix Profile

Anterix, Inc is a specialized telecommunications company focused on delivering private broadband networks for utilities and other critical infrastructure industries. The company owns and operates dedicated 900 MHz spectrum that enables reliable, secure and high-performance wireless communications to support grid modernization, smart metering, distribution automation and other mission-critical applications. By leveraging this spectrum, Anterix helps electric, water and gas utilities deploy advanced communications capabilities to enhance operational efficiency and resiliency.

At the core of Anterix’s offering is its licensed 900 MHz spectrum, which provides superior propagation characteristics compared with unlicensed options and allows for cost-effective coverage over expansive service territories.