Anterix (NASDAQ:ATEX) Announces Quarterly Earnings Results

Anterix (NASDAQ:ATEX) released its quarterly earnings results on Wednesday. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.42, Zacks reports. Anterix had a net margin of 495.14% and a negative return on equity of 23.87%.

Anterix Stock Performance

NASDAQ ATEX traded up $0.35 during trading hours on Wednesday, reaching $18.35. The stock had a trading volume of 242,749 shares, compared to its average volume of 181,179. Anterix has a 52-week low of $17.58 and a 52-week high of $42.91. The stock has a fifty day moving average of $20.94 and a 200 day moving average of $23.79. The stock has a market cap of $343.88 million, a P/E ratio of 11.76 and a beta of 0.80.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Anterix in a research report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price target on Anterix from $67.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, October 17th. Finally, Wall Street Zen downgraded Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $50.00.

Insider Buying and Selling

In other Anterix news, CEO Scott A. Lang acquired 4,650 shares of the company’s stock in a transaction dated Thursday, September 18th. The shares were acquired at an average cost of $21.28 per share, with a total value of $98,952.00. Following the acquisition, the chief executive officer directly owned 4,650 shares of the company’s stock, valued at approximately $98,952. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 45.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATEX. Tower Research Capital LLC TRC boosted its holdings in Anterix by 299.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock valued at $42,000 after purchasing an additional 1,233 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Anterix in the 3rd quarter valued at about $57,000. BNP Paribas Financial Markets grew its holdings in Anterix by 119.3% during the second quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock worth $62,000 after acquiring an additional 1,308 shares during the period. Russell Investments Group Ltd. raised its position in Anterix by 12.4% during the second quarter. Russell Investments Group Ltd. now owns 5,760 shares of the company’s stock valued at $148,000 after acquiring an additional 637 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Anterix by 17.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,084 shares of the company’s stock valued at $182,000 after acquiring an additional 1,029 shares in the last quarter. 87.67% of the stock is currently owned by institutional investors and hedge funds.

About Anterix

Anterix Inc operates as a wireless communications company. The company focuses on commercializing its spectrum assets to enable the targeted utility and critical infrastructure customers to deploy private broadband networks and innovative broadband solutions. It holds licensed spectrum in the 900 MHz band with coverage throughout the United States, Alaska, Hawaii, and Puerto Rico.