Anterix Inc. (NASDAQ:ATEX) Given Average Rating of “Moderate Buy” by Brokerages

Anterix Inc. (NASDAQ:ATEX) has earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $120.00.

Several research firms have weighed in on ATEX. Weiss Ratings upgraded Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. B. Riley Financial downgraded Anterix from a “buy” rating to a “neutral” rating and increased their price target for the stock from $44.00 to $69.00 in a report on Thursday, June 4th. Clear Str raised Anterix to a “strong-buy” rating in a research report on Monday, July 27th. DA Davidson set a $161.00 price objective on Anterix in a report on Friday. Finally, Wall Street Zen lowered Anterix from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th.

Anterix Stock Performance

Shares of NASDAQ:ATEX opened at $93.25 on Monday. The company has a 50 day moving average price of $94.36 and a two-hundred day moving average price of $62.62. The company has a market capitalization of $1.83 billion, a PE ratio of 26.64 and a beta of 0.85. Anterix has a 52 week low of $17.58 and a 52 week high of $113.00.

Anterix (NASDAQ:ATEX) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.44. Anterix had a net margin of 933.03% and a negative return on equity of 10.65%. The company had revenue of $1.96 million for the quarter, compared to analysts’ expectations of $2.00 million. On average, sell-side analysts forecast that Anterix will post -2 earnings per share for the current year.

Insider Transactions at Anterix

In related news, CFO Elena Marquez sold 4,291 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $79.50, for a total value of $341,134.50. Following the completion of the transaction, the chief financial officer directly owned 18,387 shares of the company’s stock, valued at approximately $1,461,766.50. This represents a 18.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Heard sold 46,400 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $90.11, for a total value of $4,181,104.00. Following the transaction, the director owned 1,670,338 shares of the company’s stock, valued at approximately $150,514,157.18. This trade represents a 2.70% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 170,509 shares of company stock worth $14,355,262. Company insiders own 40.05% of the company’s stock.

Institutional Investors Weigh In On Anterix

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC lifted its stake in Anterix by 63.7% in the 1st quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock valued at $36,000 after acquiring an additional 363 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Anterix by 299.3% during the 2nd 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 last quarter. Quantbot Technologies LP acquired a new position in shares of Anterix during the 3rd quarter worth about $57,000. BNP Paribas Financial Markets grew its holdings in shares of Anterix by 119.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock valued at $62,000 after acquiring an additional 1,308 shares in the last quarter. Finally, Fifth Third Bancorp bought a new position in shares of Anterix in the 1st quarter valued at about $64,000. Institutional investors and hedge funds own 87.67% of the company’s stock.

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.