Insider Selling: Anterix (NASDAQ:ATEX) Director Sells $560,000.00 in Stock

Anterix Inc. (NASDAQ:ATEX) Director Mahvash Yazdi sold 7,000 shares of Anterix stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $80.00, for a total transaction of $560,000.00. Following the sale, the director directly owned 19,407 shares in the company, valued at approximately $1,552,560. The trade was a 26.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Anterix Stock Performance

ATEX opened at $74.53 on Friday. The stock has a market capitalization of $1.40 billion, a PE ratio of 15.40 and a beta of 0.95. Anterix Inc. has a one year low of $17.58 and a one year high of $88.12. The business’s 50 day moving average price is $57.36 and its 200 day moving average price is $39.26.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its position in shares of Anterix by 63.7% during the first quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock worth $36,000 after buying an additional 363 shares during the period. Bank of America Corp DE raised its holdings in shares of Anterix by 17.2% in the 1st quarter. Bank of America Corp DE now owns 167,781 shares of the company’s stock valued at $6,408,000 after buying an additional 24,657 shares during the period. Royal Bank of Canada lifted its stake in Anterix by 151.2% during the 1st quarter. Royal Bank of Canada now owns 3,034 shares of the company’s stock worth $116,000 after acquiring an additional 1,826 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in Anterix by 64.6% during the 1st quarter. Quantinno Capital Management LP now owns 15,619 shares of the company’s stock valued at $596,000 after acquiring an additional 6,132 shares during the period. Finally, Gamco Investors INC. ET AL boosted its holdings in Anterix by 0.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 425,820 shares of the company’s stock valued at $16,262,000 after acquiring an additional 3,350 shares during the period. 87.67% of the stock is currently owned by institutional investors and hedge funds.

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.