Anterix (NASDAQ:ATEX) Stock: Insider Elena Marquez Sells 4,981 Shares

Anterix Inc. (NASDAQ:ATEX) CFO Elena Marquez sold 4,981 shares of the stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $80.43, for a total transaction of $400,621.83. Following the transaction, the chief financial officer owned 12,604 shares in the company, valued at approximately $1,013,739.72. The trade was a 28.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Anterix Stock Performance

NASDAQ:ATEX opened at $84.96 on Tuesday. The firm has a 50-day simple moving average of $86.79 and a 200-day simple moving average of $75.07. Anterix Inc. has a one year low of $17.58 and a one year high of $113.00. The firm has a market cap of $1.67 billion, a P/E ratio of 24.27 and a beta of 0.89.

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

Hedge Funds Weigh In On Anterix

Hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new position in shares of Anterix in the second quarter worth $35,000. Wellington Management Group LLP acquired a new stake in Anterix during the 2nd quarter worth about $3,192,000. Proficio Capital Partners LLC purchased a new stake in Anterix during the 2nd quarter valued at about $309,000. Panoramic Capital LLC acquired a new position in shares of Anterix in the second quarter valued at about $15,892,000. Finally, Bank of America Corp DE acquired a new position in shares of Anterix in the second quarter valued at about $13,865,000. Institutional investors and hedge funds own 87.67% of the company’s stock.

Wall Street Analyst Weigh In

ATEX has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Anterix from $133.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, August 13th. Wall Street Zen lowered Anterix from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Clear Str upgraded shares of Anterix to a “strong-buy” rating in a report on Monday, July 27th. DA Davidson set a $161.00 target price on shares of Anterix in a report on Friday, August 21st. Finally, Weiss Ratings raised shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Anterix presently has an average rating of “Moderate Buy” and an average target price of $120.00.

About Anterix

Anterix Inc (NASDAQ: ATEX) develops and enables private wireless broadband networks for critical infrastructure organizations in the United States. The company focuses on using its licensed 900 MHz spectrum to support secure, reliable communications for electric utilities and other organizations that require resilient connectivity for operational technology and field personnel.

Anterix provides spectrum access and related solutions designed to help utilities modernize communications networks, including support for grid management, outage response, remote monitoring, automation and other mission-critical applications.