Anterix Inc. (NASDAQ:ATEX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Anterix Inc. (NASDAQ:ATEX) have earned a consensus rating of “Moderate Buy” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $101.00.

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded Anterix from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. JPMorgan Chase & Co. raised their price objective on Anterix from $50.00 to $133.00 and gave the stock an “overweight” rating in a research report on Monday, July 20th. B. Riley Financial cut Anterix from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $44.00 to $69.00 in a research report on Thursday, June 4th. Weiss Ratings upgraded Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. Finally, Clear Str upgraded shares of Anterix to a “strong-buy” rating in a research note on Monday.

Anterix Stock Performance

Shares of ATEX opened at $88.20 on Thursday. The company has a 50-day simple moving average of $85.20 and a 200-day simple moving average of $54.37. Anterix has a 52 week low of $17.58 and a 52 week high of $113.00. The firm has a market capitalization of $1.72 billion, a P/E ratio of 18.22 and a beta of 0.83.

Insider Buying and Selling at Anterix

In related news, Director Mahvash Yazdi sold 7,000 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $80.00, for a total value of $560,000.00. Following the sale, the director owned 19,407 shares of the company’s stock, valued at $1,552,560. The trade was a 26.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mark Fleischhauer sold 3,500 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $79.83, for a total transaction of $279,405.00. Following the completion of the transaction, the director directly owned 12,769 shares of the company’s stock, valued at $1,019,349.27. This trade represents a 21.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 124,109 shares of company stock worth $10,174,158 in the last 90 days. 40.05% of the stock is currently owned by insiders.

Institutional Trading of Anterix

Several institutional investors have recently bought and sold shares of ATEX. AQR Capital Management LLC raised its stake in Anterix by 16.9% during the first quarter. AQR Capital Management LLC now owns 11,489 shares of the company’s stock worth $420,000 after acquiring an additional 1,659 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Anterix by 50.6% during the first quarter. Millennium Management LLC now owns 116,473 shares of the company’s stock valued at $4,263,000 after acquiring an additional 39,143 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Anterix by 17.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 124,706 shares of the company’s stock valued at $4,564,000 after purchasing an additional 18,771 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Anterix by 19.7% in the 2nd quarter. Legal & General Group Plc now owns 11,303 shares of the company’s stock valued at $290,000 after purchasing an additional 1,857 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Anterix by 70.9% in the 2nd quarter. Rhumbline Advisers now owns 27,998 shares of the company’s stock worth $718,000 after purchasing an additional 11,615 shares during the last quarter. Institutional investors and hedge funds own 87.67% of the company’s stock.

About Anterix

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.