Insider Selling: Anterix (NASDAQ:ATEX) Insider Sells $2,164,826.04 in Stock

Anterix Inc. (NASDAQ:ATEX) insider Christopher Guttman-Mccabe sold 23,439 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $92.36, for a total transaction of $2,164,826.04. Following the completion of the sale, the insider owned 44,876 shares in the company, valued at approximately $4,144,747.36. This trade represents a 34.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Christopher Guttman-Mccabe also recently made the following trade(s):

• On Monday, June 15th, Christopher Guttman-Mccabe sold 91,437 shares of Anterix stock. The stock was sold at an average price of $82.46, for a total value of $7,539,895.02.

Anterix Price Performance

Shares of Anterix stock traded up $0.51 during trading on Thursday, hitting $94.67. The stock had a trading volume of 229,887 shares, compared to its average volume of 395,028. The firm’s fifty day simple moving average is $95.10 and its 200-day simple moving average is $64.01. The stock has a market cap of $1.86 billion, a PE ratio of 27.05 and a beta of 0.85. Anterix Inc. has a 12 month low of $17.58 and a 12 month high of $113.00.

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

Institutional Investors Weigh In On Anterix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its holdings in Anterix by 63.7% during the first quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock valued at $36,000 after purchasing an additional 363 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Anterix by 299.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock worth $42,000 after purchasing an additional 1,233 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of Anterix during the 1st quarter worth about $64,000. Legal & General Group Plc purchased a new position in Anterix in the 2nd quarter valued at about $222,000. Finally, Ieq Capital LLC purchased a new position in Anterix in the 2nd quarter valued at about $226,000. Hedge funds and other institutional investors own 87.67% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ATEX. Wall Street Zen downgraded shares of Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Clear Str raised shares of Anterix to a “strong-buy” rating in a report on Monday, July 27th. B. Riley Financial downgraded shares of Anterix from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $44.00 to $69.00 in a research report on Thursday, June 4th. JPMorgan Chase & Co. lowered their target price on shares of Anterix from $133.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Finally, DA Davidson set a $161.00 price target on Anterix in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

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.