Anterix (NASDAQ:ATEX) Insider Sells $1,440,081.41 in Stock

Anterix Inc. (NASDAQ:ATEX) insider Gena Ashe sold 17,711 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $81.31, for a total value of $1,440,081.41. Following the sale, the insider directly owned 9,531 shares in the company, valued at $774,965.61. This trade represents a 65.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Anterix Price Performance

ATEX stock opened at $74.53 on Friday. The business has a 50 day moving average price of $57.36 and a 200 day moving average price of $39.26. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 15.40 and a beta of 0.95. Anterix Inc. has a fifty-two week low of $17.58 and a fifty-two week high of $88.12.

Institutional Investors Weigh In On Anterix

Several hedge funds have recently made changes to their positions in ATEX. Jefferies Financial Group Inc. purchased a new position in shares of Anterix during the fourth quarter worth about $9,922,000. Millennium Management LLC raised its stake in Anterix by 1,153.1% during the 4th quarter. Millennium Management LLC now owns 439,946 shares of the company’s stock valued at $9,604,000 after acquiring an additional 404,838 shares during the last quarter. Beartown Capital Management LLC acquired a new stake in Anterix during the 4th quarter worth approximately $3,165,000. Gamco Investors INC. ET AL lifted its position in Anterix by 32.0% during the 4th quarter. Gamco Investors INC. ET AL now owns 422,470 shares of the company’s stock worth $9,223,000 after acquiring an additional 102,400 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Anterix by 30.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 424,856 shares of the company’s stock valued at $16,223,000 after purchasing an additional 99,933 shares during the last quarter. Institutional investors and hedge funds own 87.67% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on ATEX shares. Weiss Ratings upgraded shares of Anterix from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, April 21st. B. Riley Financial lowered shares of Anterix from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $44.00 to $69.00 in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Anterix presently has a consensus rating of “Hold” and an average target price of $59.50.

Anterix Company 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.