William Heard Sells 46,400 Shares of Anterix (NASDAQ:ATEX) Stock

Anterix Inc. (NASDAQ:ATEX) Director William Heard sold 46,400 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $90.11, for a total value of $4,181,104.00. Following the completion of the sale, the director owned 1,670,338 shares of the company’s stock, valued at $150,514,157.18. The trade was a 2.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Anterix Stock Performance

Shares of NASDAQ ATEX traded down $0.82 during mid-day trading on Tuesday, hitting $90.75. The stock had a trading volume of 355,979 shares, compared to its average volume of 399,480. The business has a 50 day moving average price of $93.07 and a two-hundred day moving average price of $60.87. Anterix Inc. has a 1 year low of $17.58 and a 1 year high of $113.00. The firm has a market cap of $1.78 billion, a P/E ratio of 25.93 and a beta of 0.85.

Anterix (NASDAQ:ATEX) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.44. The business had revenue of $1.96 million during the quarter, compared to analysts’ expectations of $2.00 million. Anterix had a net margin of 933.03% and a negative return on equity of 10.65%. Equities research analysts predict that Anterix Inc. will post -2.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Anterix

Institutional investors and hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC lifted its position in shares of Anterix by 63.7% in the 1st quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock worth $36,000 after purchasing an additional 363 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Anterix by 299.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock valued at $42,000 after buying an additional 1,233 shares during the period. Fifth Third Bancorp bought a new position in Anterix in the first quarter worth about $64,000. Legal & General Group Plc bought a new position in Anterix in the second quarter worth about $222,000. Finally, Ieq Capital LLC purchased a new stake in Anterix in the second quarter worth about $226,000. 87.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ATEX has been the subject of a number of analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. B. Riley Financial downgraded Anterix from a “buy” rating to a “neutral” rating and boosted their price target for the company from $44.00 to $69.00 in a report on Thursday, June 4th. Wall Street Zen lowered Anterix from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings upgraded Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. Finally, Clear Str upgraded Anterix to a “strong-buy” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $99.50.

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.