Jupiter Topco LLC Buys New Position in Anterix Inc. $ATEX

Jupiter Topco LLC purchased a new stake in shares of Anterix Inc. (NASDAQ:ATEX) during the second quarter, Holdings Channel.com reports. The firm purchased 662,415 shares of the company’s stock, valued at approximately $68,189,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. BlackRock Inc. purchased a new position in Anterix in the 2nd quarter worth $110,672,000. Jefferies Financial Group Inc. purchased a new stake in Anterix during the 4th quarter valued at about $9,922,000. Millennium Management LLC increased its holdings in shares of Anterix by 1,153.1% in the fourth quarter. Millennium Management LLC now owns 439,946 shares of the company’s stock valued at $9,604,000 after purchasing an additional 404,838 shares during the period. Beartown Capital Management LLC acquired a new position in shares of Anterix in the fourth quarter valued at about $3,165,000. Finally, Gamco Investors INC. ET AL raised its stake in shares of Anterix by 32.0% in the fourth quarter. Gamco Investors INC. ET AL now owns 422,470 shares of the company’s stock worth $9,223,000 after purchasing an additional 102,400 shares during the last quarter. 87.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ATEX has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Anterix from $133.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Weiss Ratings raised shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. Wall Street Zen cut shares of Anterix from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. B. Riley Financial downgraded shares of Anterix from a “buy” rating to a “neutral” rating and upped their price objective for the company from $44.00 to $69.00 in a report on Thursday, June 4th. Finally, DA Davidson set a $161.00 price objective on shares of Anterix in a report on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

Insider Buying and Selling at Anterix

In other news, Director Mahvash Yazdi sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $80.00, for a total transaction of $560,000.00. Following the completion of the transaction, the director directly owned 19,407 shares of the company’s stock, valued at $1,552,560. This represents a 26.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Thomas R. Kuhn sold 10,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $88.85, for a total value of $888,500.00. Following the transaction, the chairman owned 17,731 shares in the company, valued at $1,575,399.35. This trade represents a 36.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 205,602 shares of company stock worth $17,540,115. 40.05% of the stock is currently owned by corporate insiders.

Anterix Price Performance

NASDAQ:ATEX opened at $94.67 on Friday. The company has a 50 day moving average price of $95.51 and a 200-day moving average price of $64.48. 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 $1.86 billion, a price-to-earnings ratio of 27.05 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 firm had revenue of $1.96 million during the quarter, compared to analyst estimates of $2.00 million. Anterix had a negative return on equity of 10.65% and a net margin of 933.03%. On average, sell-side analysts anticipate that Anterix Inc. will post -2 earnings per share for the current fiscal year.

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.