Anterix (NASDAQ:ATEX) Director Sells $356,987.00 in Stock

Anterix Inc. (NASDAQ:ATEX) Director Leslie Daniels sold 4,100 shares of Anterix stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $87.07, for a total transaction of $356,987.00. Following the completion of the sale, the director directly owned 45,977 shares in the company, valued at approximately $4,003,217.39. The trade was a 8.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Anterix Trading Down 1.4%

Shares of ATEX opened at $82.79 on Friday. The stock’s 50 day moving average is $95.02 and its two-hundred day moving average is $68.38. The firm has a market capitalization of $1.62 billion, a PE ratio of 23.65 and a beta of 0.84. Anterix Inc. has a twelve month low of $17.58 and a twelve month high of $113.00.

Anterix (NASDAQ:ATEX) last posted 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 negative return on equity of 10.65% and a net margin of 933.03%.The firm had revenue of $1.96 million for the quarter, compared to the consensus estimate of $2.00 million. On average, sell-side analysts predict that Anterix Inc. will post -2 EPS for the current year.

Hedge Funds Weigh In On Anterix

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in shares of Anterix by 17.2% during the first quarter. Bank of America Corp DE now owns 167,781 shares of the company’s stock worth $6,408,000 after purchasing an additional 24,657 shares during the last quarter. GSA Capital Partners LLP increased its stake in Anterix by 22.3% in the fourth 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 last quarter. Bank of New York Mellon Corp acquired a new position in Anterix in the second quarter valued at $7,141,000. Kirr Marbach & Co. LLC IN lifted its position in Anterix by 13.3% during the first quarter. Kirr Marbach & Co. LLC IN now owns 113,814 shares of the company’s stock worth $4,347,000 after buying an additional 13,396 shares during the period. Finally, Waterfront Wealth Inc. lifted its position in Anterix by 23.3% during the first quarter. Waterfront Wealth Inc. now owns 59,955 shares of the company’s stock worth $2,290,000 after buying an additional 11,328 shares during the period. Hedge funds and other institutional investors own 87.67% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on ATEX shares. Weiss Ratings raised Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. JPMorgan Chase & Co. cut their price target on Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. B. Riley Financial lowered shares of Anterix from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $44.00 to $69.00 in a research report on Thursday, June 4th. DA Davidson set a $161.00 price objective on shares of Anterix in a research note on Friday, August 21st. Finally, Clear Str upgraded shares of Anterix to a “strong-buy” rating in a report on Monday, July 27th. One investment 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

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.