Anterix (NASDAQ:ATEX) Director Sells $4,181,104.00 in Stock

Anterix Inc. (NASDAQ:ATEX) Director William Heard sold 46,400 shares of Anterix stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $90.11, for a total transaction of $4,181,104.00. Following the completion of the sale, the director owned 1,670,338 shares of the company’s stock, valued at $150,514,157.18. This trade represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Anterix Stock Down 3.8%

ATEX stock opened at $85.31 on Friday. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 24.37 and a beta of 0.85. Anterix Inc. has a 12 month low of $17.58 and a 12 month high of $113.00. The firm has a 50 day moving average of $94.15 and a two-hundred day moving average of $62.16.

Anterix (NASDAQ:ATEX) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.44. Anterix had a net margin of 933.03% and a negative return on equity of 10.65%. The business had revenue of $1.96 million for the quarter, compared to the consensus estimate of $2.00 million. On average, research analysts expect that Anterix Inc. will post -2 EPS for the current fiscal year.

Institutional Investors Weigh In On Anterix

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP boosted its holdings in Anterix by 22.3% in the 4th quarter. GSA Capital Partners LLP now owns 72,976 shares of the company’s stock valued at $1,593,000 after purchasing an additional 13,324 shares during the period. Waterfront Wealth Inc. acquired a new position in shares of Anterix during the fourth quarter valued at about $1,150,000. Kirr Marbach & Co. LLC IN lifted its stake in shares of Anterix by 13.3% in the first quarter. Kirr Marbach & Co. LLC IN now owns 113,814 shares of the company’s stock valued at $4,347,000 after buying an additional 13,396 shares during the period. Dimensional Fund Advisors LP grew its position in Anterix by 30.8% during the first quarter. Dimensional Fund Advisors LP now owns 424,856 shares of the company’s stock worth $16,223,000 after buying an additional 99,933 shares in the last quarter. Finally, Inspire Investing LLC acquired a new stake in Anterix during the first quarter worth about $508,000. 87.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ATEX has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Weiss Ratings raised Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. Clear Str raised Anterix to a “strong-buy” rating in a research note on Monday, July 27th. Wall Street Zen downgraded Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, B. Riley Financial lowered shares of Anterix from a “buy” rating to a “neutral” rating and lifted their price target for the company from $44.00 to $69.00 in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Anterix currently has a consensus rating of “Moderate Buy” and an average price target of $99.50.

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.