Insider Selling: Anterix (NASDAQ:ATEX) Director Sells 3,500 Shares of Stock

Anterix Inc. (NASDAQ:ATEX) Director Mark Fleischhauer sold 3,500 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $79.83, for a total transaction of $279,405.00. Following the transaction, the director owned 12,769 shares in the company, valued at $1,019,349.27. This trade represents a 21.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Anterix Trading Up 2.0%

NASDAQ ATEX traded up $1.53 during trading hours on Wednesday, reaching $79.16. 469,364 shares of the company traded hands, compared to its average volume of 488,175. Anterix Inc. has a 12 month low of $17.58 and a 12 month high of $88.12. The stock has a market capitalization of $1.48 billion, a PE ratio of 16.36 and a beta of 0.95. The company has a 50 day moving average of $56.03 and a two-hundred day moving average of $38.64.

Wall Street Analysts Forecast Growth

ATEX has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of Anterix from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, April 21st. B. Riley Financial lowered shares of Anterix from a “buy” rating to a “neutral” rating and lifted 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 given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $59.50.

Institutional Trading of Anterix

A number of large investors have recently modified their holdings of ATEX. Parallel Advisors LLC increased its stake in Anterix by 63.7% during the 1st quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock valued at $36,000 after buying an additional 363 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Anterix by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 138,677 shares of the company’s stock worth $3,027,000 after purchasing an additional 599 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Anterix by 12.4% in the second quarter. Russell Investments Group Ltd. now owns 5,760 shares of the company’s stock worth $148,000 after buying an additional 637 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Anterix by 17.0% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,084 shares of the company’s stock worth $182,000 after buying an additional 1,029 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Anterix by 299.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock worth $42,000 after buying an additional 1,233 shares during the period. Institutional investors and hedge funds own 87.67% of the company’s stock.

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.