Anterix (NASDAQ:ATEX) Earns Neutral Rating from B. Riley Financial

Anterix (NASDAQ:ATEX)‘s stock had its “neutral” rating reaffirmed by equities research analysts at B. Riley Financial in a report issued on Thursday,Benzinga reports. They presently have a $69.00 price target on the stock, up from their prior price target of $44.00. B. Riley Financial’s price objective indicates a potential upside of 8.30% from the stock’s current price.

ATEX has been the topic of a number of other reports. Zacks Research lowered shares of Anterix from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Weiss Ratings upgraded shares of Anterix from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $59.50.

Anterix Price Performance

Anterix stock opened at $63.71 on Thursday. The stock has a market capitalization of $1.19 billion, a PE ratio of 14.83 and a beta of 0.95. Anterix has a 12 month low of $17.58 and a 12 month high of $68.31. The business has a 50 day simple moving average of $49.18 and a 200-day simple moving average of $34.93.

Institutional Investors Weigh In On Anterix

A number of hedge funds have recently bought and sold shares of ATEX. AQR Capital Management LLC increased its holdings in shares of Anterix by 16.9% during the 1st quarter. AQR Capital Management LLC now owns 11,489 shares of the company’s stock worth $420,000 after purchasing an additional 1,659 shares during the period. Millennium Management LLC raised its stake in Anterix by 50.6% during the first quarter. Millennium Management LLC now owns 116,473 shares of the company’s stock worth $4,263,000 after acquiring an additional 39,143 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Anterix by 17.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 124,706 shares of the company’s stock worth $4,564,000 after acquiring an additional 18,771 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Anterix by 19.7% in the 2nd quarter. Legal & General Group Plc now owns 11,303 shares of the company’s stock valued at $290,000 after purchasing an additional 1,857 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Anterix by 70.9% during the second quarter. Rhumbline Advisers now owns 27,998 shares of the company’s stock worth $718,000 after purchasing an additional 11,615 shares during the period. 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.