Anterix (NASDAQ:ATEX) Insider Sells $372,262.08 in Stock

Anterix Inc. (NASDAQ:ATEX) insider Gena Ashe sold 4,357 shares of Anterix stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $85.44, for a total value of $372,262.08. Following the completion of the sale, the insider directly owned 5,174 shares in the company, valued at approximately $442,066.56. The trade was a 45.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Anterix Stock Performance

NASDAQ ATEX opened at $82.79 on Friday. The company has a market capitalization of $1.62 billion, a P/E ratio of 23.65 and a beta of 0.84. Anterix Inc. has a one year low of $17.58 and a one year high of $113.00. The stock has a 50 day moving average price of $95.02 and a 200-day moving average price of $68.38.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ATEX. B. Riley Financial downgraded Anterix from a “buy” rating to a “neutral” rating and upped their price objective for the company from $44.00 to $69.00 in a research report on Thursday, June 4th. Weiss Ratings raised shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. 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. Wall Street Zen lowered shares of Anterix from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Clear Str upgraded Anterix to a “strong-buy” rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Anterix currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

Hedge Funds Weigh In On Anterix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its position in shares of Anterix by 17.2% in the 1st quarter. Bank of America Corp DE now owns 167,781 shares of the company’s stock worth $6,408,000 after buying an additional 24,657 shares during the last quarter. GSA Capital Partners LLP raised its stake in shares of Anterix by 22.3% during the 4th quarter. GSA Capital Partners LLP now owns 72,976 shares of the company’s stock worth $1,593,000 after acquiring an additional 13,324 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Anterix during the second quarter valued at approximately $7,141,000. Kirr Marbach & Co. LLC IN lifted its position in Anterix by 13.3% during the first quarter. Kirr Marbach & Co. LLC IN now owns 113,814 shares of the company’s stock valued at $4,347,000 after acquiring an additional 13,396 shares during the last quarter. Finally, Waterfront Wealth Inc. boosted its stake in Anterix by 23.3% in the first quarter. Waterfront Wealth Inc. now owns 59,955 shares of the company’s stock valued at $2,290,000 after acquiring an additional 11,328 shares in 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.