Insider Selling: Anterix (NASDAQ:ATEX) Insider Sells 91,437 Shares of Stock

Anterix Inc. (NASDAQ:ATEX) insider Christopher Guttman-Mccabe sold 91,437 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $82.46, for a total transaction of $7,539,895.02. Following the transaction, the insider owned 77,807 shares in the company, valued at $6,415,965.22. The trade was a 54.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Anterix Trading Up 2.0%

Shares of ATEX traded up $1.53 on Wednesday, reaching $79.16. 469,364 shares of the company’s stock were exchanged, compared to its average volume of 488,175. The stock has a market capitalization of $1.48 billion, a P/E ratio of 16.36 and a beta of 0.95. The business has a 50 day moving average price of $56.03 and a two-hundred day moving average price of $38.64. Anterix Inc. has a 12 month low of $17.58 and a 12 month high of $88.12.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC lifted its position in shares of Anterix by 63.7% in the 1st quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock worth $36,000 after purchasing an additional 363 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of 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 buying an additional 1,233 shares during the period. Fifth Third Bancorp purchased a new stake in Anterix during the first quarter valued at about $64,000. BNP Paribas Financial Markets lifted its holdings in shares of Anterix by 119.3% in the second quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock worth $62,000 after buying an additional 1,308 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Anterix in the third quarter worth about $57,000. Institutional investors and hedge funds own 87.67% of the company’s stock.

Analysts Set New Price Targets

ATEX has been the subject of several research reports. B. Riley Financial downgraded shares of Anterix from a “buy” rating to a “neutral” rating and increased their price objective for the stock 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 report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Anterix has an average rating of “Hold” and an average price target of $59.50.

Anterix Company Profile

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.