Anterix (NASDAQ:ATEX) Insider Sells $7,539,895.02 in Stock

Anterix Inc. (NASDAQ:ATEX) insider Christopher Guttman-Mccabe sold 91,437 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $82.46, for a total transaction of $7,539,895.02. Following the sale, the insider owned 77,807 shares of the company’s stock, valued at approximately $6,415,965.22. This represents a 54.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Anterix Stock Performance

Shares of ATEX opened at $74.53 on Friday. Anterix Inc. has a 52 week low of $17.58 and a 52 week high of $88.12. The firm has a market cap of $1.40 billion, a P/E ratio of 15.40 and a beta of 0.95. The firm’s 50-day simple moving average is $57.36 and its 200 day simple moving average is $39.26.

Hedge Funds Weigh In On Anterix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its stake in Anterix by 63.7% during the first 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. Charles Schwab Investment Management Inc. raised its position in shares of Anterix by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 138,677 shares of the company’s stock valued at $3,027,000 after buying an additional 599 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Anterix by 12.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 5,760 shares of the company’s stock valued at $148,000 after buying an additional 637 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Anterix by 17.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,084 shares of the company’s stock valued at $182,000 after buying an additional 1,029 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings 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 acquiring an additional 1,233 shares during the period. 87.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ATEX has been the subject of a number of research analyst reports. B. Riley Financial cut Anterix from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $44.00 to $69.00 in a report on Thursday, June 4th. Weiss Ratings upgraded Anterix from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $59.50.

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.