Insider Selling: Anterix (NASDAQ:ATEX) Chairman Sells 1,654 Shares

Anterix Inc. (NASDAQ:ATEX) Chairman Thomas Kuhn sold 1,654 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $79.52, for a total transaction of $131,526.08. Following the completion of the transaction, the chairman owned 17,731 shares of the company’s stock, valued at $1,409,969.12. This trade represents a 8.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Anterix Stock Up 1.7%

Shares of NASDAQ:ATEX traded up $1.55 during midday trading on Wednesday, reaching $93.92. 241,195 shares of the company were exchanged, compared to its average volume of 396,041. Anterix Inc. has a fifty-two week low of $17.58 and a fifty-two week high of $113.00. The stock has a fifty day simple moving average of $94.80 and a two-hundred day simple moving average of $63.53. The firm has a market cap of $1.84 billion, a PE ratio of 26.83 and a beta of 0.85.

Anterix (NASDAQ:ATEX) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.43) by $0.44. The business had revenue of $1.96 million for 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%. As a group, analysts forecast that Anterix Inc. will post -2 earnings per share for the current year.

Wall Street Analyst Weigh In

ATEX has been the topic of a number of research reports. Weiss Ratings upgraded Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. Wall Street Zen lowered Anterix from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. JPMorgan Chase & Co. cut their target price on Anterix from $133.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Clear Str raised Anterix to a “strong-buy” rating in a research report on Monday, July 27th. Finally, DA Davidson set a $161.00 price target on shares of Anterix in a research note on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Anterix currently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Institutional Investors Weigh In On Anterix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATEX. Parallel Advisors LLC lifted its position in Anterix by 63.7% during the 1st quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock worth $36,000 after buying 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 bought a new position in shares of Anterix in the 3rd quarter valued at 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 acquired a new stake in shares of Anterix in the first quarter valued at about $64,000. 87.67% of the stock is currently owned by institutional investors and hedge funds.

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.