Analysts Set Anterix Inc. (NASDAQ:ATEX) PT at $101.00

Shares of Anterix Inc. (NASDAQ:ATEX) have earned a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $101.00.

Several equities analysts have 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. B. Riley Financial cut Anterix from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $44.00 to $69.00 in a report on Thursday, June 4th. Wall Street Zen upgraded Anterix from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Clear Str raised shares of Anterix to a “strong-buy” rating in a report on Monday, July 27th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Anterix from $50.00 to $133.00 and gave the company an “overweight” rating in a research report on Monday, July 20th.

Insider Activity

In other Anterix news, insider Gena L. Ashe sold 17,711 shares of Anterix stock in a transaction on Monday, June 15th. The shares were sold at an average price of $81.31, for a total value of $1,440,081.41. Following the sale, the insider directly owned 9,531 shares in the company, valued at approximately $774,965.61. The trade was a 65.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Elena Marquez sold 4,291 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $79.50, for a total transaction of $341,134.50. Following the transaction, the chief financial officer directly owned 18,387 shares of the company’s stock, valued at $1,461,766.50. This trade represents a 18.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 124,109 shares of company stock valued at $10,174,158 in the last quarter. Company insiders own 40.05% of the company’s stock.

Hedge Funds Weigh In On Anterix

Several large investors have recently modified their holdings of the stock. AQR Capital Management LLC increased its position in Anterix by 16.9% during the first quarter. AQR Capital Management LLC now owns 11,489 shares of the company’s stock valued at $420,000 after acquiring an additional 1,659 shares during the last quarter. Millennium Management LLC lifted its position in shares of 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 purchasing an additional 39,143 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Anterix by 17.7% during the first quarter. Goldman Sachs Group Inc. now owns 124,706 shares of the company’s stock worth $4,564,000 after purchasing an additional 18,771 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Anterix by 19.7% during the second 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 boosted its position in Anterix by 70.9% in the 2nd quarter. Rhumbline Advisers now owns 27,998 shares of the company’s stock valued at $718,000 after buying an additional 11,615 shares during the period. Institutional investors own 87.67% of the company’s stock.

Anterix Price Performance

Shares of NASDAQ ATEX opened at $95.65 on Thursday. Anterix has a 1 year low of $17.58 and a 1 year high of $113.00. The stock has a market cap of $1.87 billion, a PE ratio of 19.76 and a beta of 0.85. The firm has a fifty day moving average price of $87.10 and a 200-day moving average price of $55.87.

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.