Clear Str Upgrades Anterix (NASDAQ:ATEX) to Strong-Buy

Anterix (NASDAQ:ATEX) was upgraded by Clear Str to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on ATEX. JPMorgan Chase & Co. lifted their price target on Anterix from $50.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Wall Street Zen upgraded Anterix from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. B. Riley Financial cut Anterix from a “buy” rating to a “neutral” rating and raised their price objective for the company from $44.00 to $69.00 in a report on Thursday, June 4th. Finally, Weiss Ratings upgraded Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. One 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $101.00.

Anterix Stock Performance

Shares of NASDAQ:ATEX opened at $88.20 on Monday. The firm has a market capitalization of $1.72 billion, a PE ratio of 18.22 and a beta of 0.83. Anterix has a 52-week low of $17.58 and a 52-week high of $113.00. The firm has a fifty day moving average of $85.20 and a 200 day moving average of $54.37.

Insider Activity at Anterix

In related news, insider Gena L. Ashe sold 17,711 shares of Anterix stock in a transaction 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 transaction, the insider owned 9,531 shares in the company, valued at $774,965.61. This trade represents a 65.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Elena Marquez sold 4,291 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $79.50, for a total transaction of $341,134.50. Following the completion of the sale, the chief financial officer directly owned 18,387 shares of the company’s stock, valued at $1,461,766.50. This represents a 18.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 124,109 shares of company stock worth $10,174,158 in the last 90 days. Corporate insiders own 40.05% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ATEX. AQR Capital Management LLC boosted its holdings in Anterix by 16.9% during the 1st quarter. AQR Capital Management LLC now owns 11,489 shares of the company’s stock valued at $420,000 after acquiring an additional 1,659 shares during the period. Millennium Management LLC grew its position in Anterix by 50.6% during the 1st quarter. Millennium Management LLC now owns 116,473 shares of the company’s stock worth $4,263,000 after acquiring an additional 39,143 shares during the last quarter. Goldman Sachs Group Inc. increased 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 worth $4,564,000 after purchasing an additional 18,771 shares during the period. Legal & General Group Plc increased 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 worth $290,000 after purchasing an additional 1,857 shares during the period. Finally, Rhumbline Advisers lifted its position in Anterix by 70.9% in 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.

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.