Shares of Anterix Inc (NASDAQ:ATEX) traded up 7.5% on Wednesday . The company traded as high as $40.81 and last traded at $40.52, 193,879 shares changed hands during trading. The stock had previously closed at $37.68.
A number of research analysts have weighed in on the stock. BidaskClub upgraded shares of Anterix from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 24th. Craig Hallum boosted their price objective on shares of Anterix from $62.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Zacks Investment Research upgraded shares of Anterix from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Friday, May 31st. Evercore ISI assumed coverage on shares of Anterix in a research report on Friday, August 9th. They set an “outperform” rating and a $61.00 price objective on the stock. Finally, B. Riley set a $59.00 price objective on shares of Anterix and gave the company a “buy” rating in a research report on Friday, August 16th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $64.00.
The company has a market cap of $587.81 million, a PE ratio of -13.76 and a beta of 0.23. The company’s 50 day moving average is $41.91 and its 200 day moving average is $42.58. The company has a current ratio of 8.51, a quick ratio of 8.51 and a debt-to-equity ratio of 0.05.
Anterix (NASDAQ:ATEX) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.63) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.66) by $0.03. The company had revenue of $0.45 million for the quarter, compared to the consensus estimate of $0.79 million. Anterix had a negative net margin of 769.30% and a negative return on equity of 19.16%. Analysts expect that Anterix Inc will post -2.59 EPS for the current year.
In related news, major shareholder Stephen Feinberg sold 1,000,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $43.50, for a total value of $43,500,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Owl Creek Asset Management, L. purchased 17,000 shares of Anterix stock in a transaction that occurred on Tuesday, August 20th. The stock was bought at an average cost of $41.99 per share, for a total transaction of $713,830.00. The disclosure for this purchase can be found here. Insiders purchased a total of 1,145,329 shares of company stock worth $51,224,815 in the last ninety days. 6.74% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can increased its stake in Anterix by 293.8% in the 2nd quarter. Bank of Montreal Can now owns 1,020 shares of the company’s stock worth $48,000 after buying an additional 761 shares during the period. BNP Paribas Arbitrage SA increased its stake in Anterix by 426.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,980 shares of the company’s stock worth $70,000 after buying an additional 1,604 shares during the period. C M Bidwell & Associates Ltd. purchased a new position in Anterix in the 2nd quarter worth about $111,000. Nordea Investment Management AB purchased a new position in Anterix in the 1st quarter worth about $120,000. Finally, A.R.T. Advisors LLC purchased a new position in Anterix in the 2nd quarter worth about $311,000. 90.43% of the stock is currently owned by institutional investors.
About Anterix (NASDAQ:ATEX)
Anterix Inc operates as a wireless communications company. The company focuses on enabling private broadband connectivity for critical infrastructure and enterprise businesses. It holds licensed spectrum in the 900 MHz band with nationwide coverage throughout the United States, Hawaii, Alaska, and Puerto Rico.
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