Anterix (NASDAQ:ATEX) Director Sells 2,500 Shares

Anterix Inc. (NASDAQ:ATEX) Director Leslie Daniels sold 2,500 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $83.83, for a total transaction of $209,575.00. Following the completion of the transaction, the director owned 43,477 shares of the company’s stock, valued at approximately $3,644,676.91. The trade was a 5.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Anterix Price Performance

NASDAQ:ATEX traded down $0.65 during mid-day trading on Friday, hitting $82.14. 431,279 shares of the company’s stock were exchanged, compared to its average volume of 389,341. Anterix Inc. has a one year low of $17.58 and a one year high of $113.00. The business has a fifty day moving average price of $95.02 and a 200 day moving average price of $68.38. The company has a market cap of $1.61 billion, a PE ratio of 23.47 and a beta of 0.84.

Anterix (NASDAQ:ATEX) last announced its earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.44. Anterix had a net margin of 933.03% and a negative return on equity of 10.65%. The business had revenue of $1.96 million during the quarter, compared to the consensus estimate of $2.00 million. On average, equities analysts forecast that Anterix Inc. will post -2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Anterix

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Anterix during the second quarter valued at $110,672,000. Jupiter Topco LLC bought a new stake in Anterix in the 2nd quarter worth about $68,189,000. Jefferies Financial Group Inc. bought a new stake in Anterix in the 4th quarter worth about $9,922,000. Millennium Management LLC raised its position in Anterix by 1,153.1% in the 4th quarter. Millennium Management LLC now owns 439,946 shares of the company’s stock worth $9,604,000 after buying an additional 404,838 shares during the last quarter. Finally, Panoramic Capital LLC purchased a new position in Anterix in the 2nd quarter worth about $15,892,000. 87.67% of the stock is currently owned by hedge funds and other institutional investors.

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.