Anterix (NASDAQ:ATEX) CEO Sells $13,642.50 in Stock

Anterix Inc. (NASDAQ:ATEX) CEO Scott Lang sold 170 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $80.25, for a total value of $13,642.50. Following the sale, the chief executive officer owned 76,527 shares of the company’s stock, valued at approximately $6,141,291.75. This trade represents a 0.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Anterix Stock Up 3.3%

Shares of Anterix stock traded up $2.49 during trading hours on Monday, reaching $77.02. 454,187 shares of the stock traded hands, compared to its average volume of 390,913. Anterix Inc. has a one year low of $17.58 and a one year high of $88.12. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 15.91 and a beta of 0.95. The company has a 50 day moving average price of $57.36 and a 200 day moving average price of $39.40.

Analyst Upgrades and Downgrades

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

Institutional Trading of Anterix

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jefferies Financial Group Inc. purchased a new stake in Anterix during the 4th quarter valued at approximately $9,922,000. Millennium Management LLC lifted its holdings in shares of Anterix by 1,153.1% in the fourth quarter. Millennium Management LLC now owns 439,946 shares of the company’s stock worth $9,604,000 after buying an additional 404,838 shares in the last quarter. Beartown Capital Management LLC purchased a new position in shares of Anterix in the fourth quarter worth $3,165,000. Gamco Investors INC. ET AL boosted its position in shares of Anterix by 32.0% during the fourth 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 last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of 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 acquiring an additional 99,933 shares during the last quarter. Hedge funds and other institutional investors 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.