Anterix (NASDAQ:ATEX) Posts Earnings Results, Beats Estimates By $0.51 EPS

Anterix (NASDAQ:ATEX) posted its quarterly earnings data on Wednesday. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.51, Zacks reports. Anterix had a net margin of 495.14% and a negative return on equity of 23.87%.

Anterix Price Performance

Anterix stock traded up $1.83 during trading hours on Thursday, hitting $20.18. The company had a trading volume of 197,519 shares, compared to its average volume of 181,119. The firm has a 50-day moving average of $20.86 and a 200 day moving average of $23.75. Anterix has a one year low of $17.58 and a one year high of $42.91. The firm has a market cap of $378.17 million, a PE ratio of 12.99 and a beta of 0.80.

Wall Street Analyst Weigh In

ATEX has been the subject of several research reports. JPMorgan Chase & Co. reduced their price target on Anterix from $67.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, October 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Anterix in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Anterix from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $50.00.

Insider Buying and Selling at Anterix

In other Anterix news, CEO Scott A. Lang purchased 4,650 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was purchased at an average cost of $21.28 per share, for a total transaction of $98,952.00. Following the transaction, the chief executive officer owned 4,650 shares in the company, valued at $98,952. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 45.61% of the company’s stock.

Institutional Trading of Anterix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC raised its position in Anterix by 16.9% in the first quarter. AQR Capital Management LLC now owns 11,489 shares of the company’s stock worth $420,000 after acquiring an additional 1,659 shares during the period. Millennium Management LLC boosted its stake in Anterix by 50.6% in the first quarter. Millennium Management LLC now owns 116,473 shares of the company’s stock valued at $4,263,000 after acquiring an additional 39,143 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Anterix by 17.7% in the first quarter. Goldman Sachs Group Inc. now owns 124,706 shares of the company’s stock valued at $4,564,000 after buying an additional 18,771 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Anterix by 19.7% in the second quarter. Legal & General Group Plc now owns 11,303 shares of the company’s stock worth $290,000 after buying an additional 1,857 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Anterix by 70.9% in the second quarter. Rhumbline Advisers now owns 27,998 shares of the company’s stock valued at $718,000 after buying an additional 11,615 shares during the last quarter. 87.67% of the stock is owned by institutional investors.

About Anterix

Anterix Inc operates as a wireless communications company. The company focuses on commercializing its spectrum assets to enable the targeted utility and critical infrastructure customers to deploy private broadband networks and innovative broadband solutions. It holds licensed spectrum in the 900 MHz band with coverage throughout the United States, Alaska, Hawaii, and Puerto Rico.