Anterix (NASDAQ:ATEX) Director Sells $522,900.00 in Stock

Anterix Inc. (NASDAQ:ATEX) Director Leslie Daniels sold 6,000 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $87.15, for a total transaction of $522,900.00. Following the sale, the director owned 50,077 shares in the company, valued at approximately $4,364,210.55. This represents a 10.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Anterix Stock Performance

ATEX opened at $82.79 on Friday. The company has a fifty day moving average of $95.02 and a two-hundred day moving average of $68.38. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 23.65 and a beta of 0.84. Anterix Inc. has a fifty-two week low of $17.58 and a fifty-two week high of $113.00.

Anterix (NASDAQ:ATEX) last posted its earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share (EPS) 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 business had revenue of $1.96 million for the quarter, compared to analyst estimates of $2.00 million. On average, equities research analysts forecast that Anterix Inc. will post -2 earnings per share for the current year.

Institutional Investors Weigh In On Anterix

Several institutional investors have recently bought and sold shares of ATEX. BlackRock Inc. acquired a new position in shares of Anterix during the second quarter valued at approximately $110,672,000. Jupiter Topco LLC acquired a new stake in shares of Anterix in the second quarter worth approximately $68,189,000. Jefferies Financial Group Inc. acquired a new stake in shares of Anterix in the fourth quarter worth approximately $9,922,000. Millennium Management LLC increased its position in shares of Anterix by 1,153.1% during the fourth quarter. Millennium Management LLC now owns 439,946 shares of the company’s stock worth $9,604,000 after purchasing an additional 404,838 shares in the last quarter. Finally, Panoramic Capital LLC purchased a new stake in shares of Anterix during the second quarter worth approximately $15,892,000. 87.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on ATEX shares. JPMorgan Chase & Co. dropped their price objective on Anterix from $133.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, August 13th. Weiss Ratings raised Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. B. Riley Financial lowered Anterix from a “buy” rating to a “neutral” rating and increased their target price for the company from $44.00 to $69.00 in a research report on Thursday, June 4th. DA Davidson set a $161.00 price target on shares of Anterix in a research note on Friday, August 21st. Finally, Wall Street Zen lowered shares of Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently 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.