Anterix (NASDAQ:ATEX) CEO Sells $13,642.50 in Stock

Anterix Inc. (NASDAQ:ATEX) CEO Scott Lang sold 170 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $80.25, for a total value of $13,642.50. Following the completion of the transaction, the chief executive officer owned 76,527 shares of the company’s stock, valued at $6,141,291.75. This trade represents a 0.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Anterix Price Performance

NASDAQ ATEX opened at $79.09 on Thursday. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 16.34 and a beta of 0.95. Anterix Inc. has a one year low of $17.58 and a one year high of $88.12. The business’s fifty day moving average is $59.90 and its 200-day moving average is $40.64.

Analyst Upgrades and Downgrades

ATEX has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of Anterix from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, April 21st. B. Riley Financial downgraded shares of Anterix from a “buy” rating to a “neutral” rating and increased their target price for the company from $44.00 to $69.00 in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $59.50.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC grew its stake in shares of Anterix by 16.9% during the 1st quarter. AQR Capital Management LLC now owns 11,489 shares of the company’s stock worth $420,000 after acquiring an additional 1,659 shares during the period. Millennium Management LLC raised its stake in Anterix by 50.6% in the 1st quarter. Millennium Management LLC now owns 116,473 shares of the company’s stock valued at $4,263,000 after acquiring an additional 39,143 shares during the period. Goldman Sachs Group Inc. raised its stake in Anterix by 17.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 124,706 shares of the company’s stock valued at $4,564,000 after acquiring an additional 18,771 shares during the period. Legal & General Group Plc raised its stake in Anterix by 19.7% in the 2nd quarter. Legal & General Group Plc now owns 11,303 shares of the company’s stock valued at $290,000 after acquiring an additional 1,857 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Anterix by 70.9% during the second quarter. Rhumbline Advisers now owns 27,998 shares of the company’s stock valued at $718,000 after purchasing an additional 11,615 shares during the last quarter. Hedge funds and other institutional investors 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.