Anterix (NASDAQ:ATEX) Stock Price Up 4.8% – Should You Buy?

Anterix Inc. (NASDAQ:ATEX)’s stock price was up 4.8% during mid-day trading on Monday . The company traded as high as $101.61 and last traded at $105.7590. Approximately 21,624 shares traded hands during trading, a decline of 95% from the average daily volume of 404,961 shares. The stock had previously closed at $100.96.

Wall Street Analysts Forecast Growth

ATEX has been the subject of several recent analyst reports. B. Riley Financial lowered shares of 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. Weiss Ratings raised shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. Finally, Wall Street Zen upgraded shares of Anterix from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. One research 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 a consensus rating of “Hold” and a consensus target price of $59.50.

Anterix Stock Performance

The company has a 50 day simple moving average of $75.91 and a 200 day simple moving average of $48.48. The company has a market capitalization of $2.06 billion, a PE ratio of 21.85 and a beta of 0.83.

Insider Activity

In related news, Director Mahvash Yazdi sold 7,000 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $80.00, for a total value of $560,000.00. Following the completion of the transaction, the director directly owned 19,407 shares of the company’s stock, valued at approximately $1,552,560. This represents a 26.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elena Marquez sold 4,291 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $79.50, for a total value of $341,134.50. Following the completion of the transaction, the chief financial officer owned 18,387 shares in the company, valued at $1,461,766.50. The trade was a 18.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 124,109 shares of company stock valued at $10,174,158 in the last three months. Company insiders own 40.05% of the company’s stock.

Hedge Funds Weigh In On Anterix

Several hedge funds and other institutional investors have recently modified their holdings of ATEX. Parallel Advisors LLC boosted its position 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 acquiring an additional 363 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Anterix by 299.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock valued at $42,000 after acquiring an additional 1,233 shares during the last quarter. Quantbot Technologies LP purchased a new position in Anterix in the 3rd quarter worth approximately $57,000. BNP Paribas Financial Markets lifted its stake in Anterix by 119.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock worth $62,000 after purchasing an additional 1,308 shares in the last quarter. Finally, Fifth Third Bancorp acquired a new position in shares of Anterix during the 1st quarter worth approximately $64,000. 87.67% of the stock is owned by hedge funds and other institutional investors.

About Anterix

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.