Anterix (NASDAQ:ATEX) Insider Gena Ashe Sells 4,357 Shares of Stock

Anterix Inc. (NASDAQ:ATEX) insider Gena Ashe sold 4,357 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $85.44, for a total transaction of $372,262.08. Following the sale, the insider owned 5,174 shares in the company, valued at $442,066.56. This represents a 45.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Anterix Stock Performance

Anterix stock opened at $85.44 on Wednesday. The company has a 50 day moving average price of $95.95 and a 200 day moving average price of $67.70. Anterix Inc. has a 52 week low of $17.58 and a 52 week high of $113.00. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 24.41 and a beta of 0.84.

Anterix (NASDAQ:ATEX) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.44. Anterix had a net margin of 933.03% and a negative return on equity of 10.65%. The firm had revenue of $1.96 million for the quarter, compared to analysts’ expectations of $2.00 million. Equities analysts forecast that Anterix Inc. will post -2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ATEX has been the topic of a number of research analyst reports. Clear Str upgraded Anterix to a “strong-buy” rating in a report on Monday, July 27th. Wall Street Zen lowered Anterix from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. B. Riley Financial cut Anterix from a “buy” rating to a “neutral” rating and lifted their target price for the company from $44.00 to $69.00 in a research note on Thursday, June 4th. Weiss Ratings upgraded Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. Finally, DA Davidson set a $161.00 price target on shares of Anterix in a research report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $120.00.

Institutional Trading of Anterix

Hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC boosted its position in Anterix by 63.7% during the first quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock valued at $36,000 after purchasing an additional 363 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Anterix by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 138,677 shares of the company’s stock valued at $3,027,000 after acquiring an additional 599 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Anterix by 12.4% in the second quarter. Russell Investments Group Ltd. now owns 5,760 shares of the company’s stock valued at $148,000 after acquiring an additional 637 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Anterix by 17.0% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,084 shares of the company’s stock valued at $182,000 after acquiring an additional 1,029 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Anterix by 299.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock worth $42,000 after acquiring an additional 1,233 shares in the last quarter. 87.67% of the stock is currently owned by hedge funds and other institutional investors.

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.