Wellington Management Group LLP Purchases Shares of 31,006 Anterix Inc. $ATEX

Wellington Management Group LLP purchased a new position in shares of Anterix Inc. (NASDAQ:ATEX) during the 2nd quarter, Holdings Channel reports. The fund purchased 31,006 shares of the company’s stock, valued at approximately $3,192,000.

Other large investors also recently modified their holdings of the company. Parallel Advisors LLC grew its holdings in shares of Anterix by 63.7% in the 1st quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock valued at $36,000 after acquiring an additional 363 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Anterix by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 138,677 shares of the company’s stock valued at $3,027,000 after purchasing an additional 599 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Anterix by 12.4% during the second quarter. Russell Investments Group Ltd. now owns 5,760 shares of the company’s stock valued at $148,000 after purchasing an additional 637 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Anterix by 17.0% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,084 shares of the company’s stock valued at $182,000 after purchasing an additional 1,029 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Anterix by 299.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock valued at $42,000 after purchasing an additional 1,233 shares in the last quarter. 87.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Thomas R. Kuhn sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $88.85, for a total transaction of $888,500.00. Following the completion of the sale, the chairman owned 17,731 shares in the company, valued at approximately $1,575,399.35. This trade represents a 36.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William Heard sold 46,400 shares of Anterix stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $90.11, for a total transaction of $4,181,104.00. Following the sale, the director directly owned 1,670,338 shares of the company’s stock, valued at $150,514,157.18. The trade was a 2.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 220,059 shares of company stock valued at $18,792,264. 40.05% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Anterix Stock Down 1.8%

NASDAQ:ATEX opened at $83.93 on Thursday. Anterix Inc. has a 12-month low of $17.58 and a 12-month high of $113.00. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 23.98 and a beta of 0.84. The stock’s 50 day moving average price is $95.46 and its two-hundred day moving average price is $68.05.

Anterix (NASDAQ:ATEX) last issued its earnings results on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.43) by $0.44. The company had revenue of $1.96 million during the quarter, compared to the consensus estimate of $2.00 million. Anterix had a negative return on equity of 10.65% and a net margin of 933.03%. Equities research analysts expect that Anterix Inc. will post -2 EPS for the current year.

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.