Anterix (NASDAQ:ATEX) Hits New 12-Month High – Here’s What Happened

Anterix Inc. (NASDAQ:ATEX) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $108.61 and last traded at $108.21, with a volume of 530596 shares changing hands. The stock had previously closed at $102.94.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ATEX shares. B. Riley Financial cut Anterix from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $44.00 to $69.00 in a report on Thursday, June 4th. Wall Street Zen upgraded Anterix from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Weiss Ratings raised Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $59.50.

Anterix Stock Performance

The company has a market cap of $2.11 billion, a price-to-earnings ratio of 22.36 and a beta of 0.82. The company has a fifty day moving average of $65.48 and a two-hundred day moving average of $43.27.

Insider Transactions at Anterix

In other news, insider Christopher Guttman-Mccabe sold 91,437 shares of the business’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 directly owned 77,807 shares in the company, valued at approximately $6,415,965.22. The trade was a 54.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gena L. Ashe sold 17,711 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $81.31, for a total value of $1,440,081.41. Following the completion of the transaction, the insider directly owned 9,531 shares of the company’s stock, valued at $774,965.61. This represents a 65.01% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 124,109 shares of company stock valued at $10,174,158. 40.05% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Anterix

Several hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in Anterix during the 4th quarter worth $1,059,000. GABELLI & Co INVESTMENT ADVISERS INC. grew its position in shares of Anterix by 219.3% in the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 52,200 shares of the company’s stock valued at $1,121,000 after buying an additional 35,850 shares during the last quarter. Gamco Investors INC. ET AL grew its position in shares of Anterix by 17.1% in the 3rd quarter. Gamco Investors INC. ET AL now owns 320,070 shares of the company’s stock valued at $6,872,000 after buying an additional 46,645 shares during the last quarter. GSA Capital Partners LLP grew its position in shares of Anterix by 22.3% in the 4th quarter. GSA Capital Partners LLP now owns 72,976 shares of the company’s stock valued at $1,593,000 after buying an additional 13,324 shares during the last quarter. Finally, Gabelli Funds LLC increased its stake in shares of Anterix by 52.2% in the third quarter. Gabelli Funds LLC now owns 286,282 shares of the company’s stock valued at $6,146,000 after buying an additional 98,130 shares during the period. 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.