Anterix (NASDAQ:ATEX) Price Target Raised to $133.00

Anterix (NASDAQ:ATEX) had its target price upped by JPMorgan Chase & Co. from $50.00 to $133.00 in a research report report published on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also recently commented on the company. Weiss Ratings upgraded Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. Wall Street Zen raised Anterix from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, B. Riley Financial lowered Anterix from a “buy” rating to a “neutral” rating and raised their price target for the company from $44.00 to $69.00 in a report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $101.00.

Anterix Trading Down 1.7%

Shares of NASDAQ:ATEX opened at $103.99 on Monday. The firm’s 50 day moving average is $81.61 and its two-hundred day moving average is $51.87. The firm has a market capitalization of $2.03 billion, a P/E ratio of 21.49 and a beta of 0.83. Anterix has a 52 week low of $17.58 and a 52 week high of $113.00.

Insider Activity at Anterix

In other news, CFO Elena Marquez sold 4,291 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $79.50, for a total value of $341,134.50. Following the completion of the sale, the chief financial officer owned 18,387 shares in the company, valued at $1,461,766.50. This represents a 18.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Christopher Guttman-Mccabe sold 91,437 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $82.46, for a total transaction of $7,539,895.02. Following the completion of the sale, the insider owned 77,807 shares in the company, valued at approximately $6,415,965.22. This trade represents a 54.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 124,109 shares of company stock worth $10,174,158 in the last quarter. Company insiders own 40.05% of the company’s stock.

Institutional Trading of Anterix

A number of large investors have recently added to or reduced their stakes in ATEX. SG Americas Securities LLC acquired a new position in shares of Anterix in the 4th quarter valued at $1,059,000. GSA Capital Partners LLP raised its holdings in Anterix by 22.3% during the 4th quarter. GSA Capital Partners LLP now owns 72,976 shares of the company’s stock worth $1,593,000 after buying an additional 13,324 shares during the period. Jefferson Bridge Capital LLC acquired a new stake in Anterix during the 4th quarter worth about $283,000. Waterfront Wealth Inc. purchased a new stake in Anterix during the fourth quarter valued at about $1,150,000. Finally, Kirr Marbach & Co. LLC IN lifted its stake in Anterix by 13.3% during the first quarter. Kirr Marbach & Co. LLC IN now owns 113,814 shares of the company’s stock valued at $4,347,000 after buying an additional 13,396 shares in the last quarter. 87.67% of the stock is currently owned by institutional investors.

Anterix Company Profile

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.