Anterix (NASDAQ:ATEX) Stock Rating Upgraded by Clear Str

Anterix (NASDAQ:ATEX) was upgraded by Clear Str to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Weiss Ratings raised Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. Wall Street Zen raised Anterix from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. B. Riley Financial cut Anterix from a “buy” rating to a “neutral” rating and upped their target price for the company from $44.00 to $69.00 in a research report on Thursday, June 4th. Finally, JPMorgan Chase & Co. raised their price target on Anterix from $50.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. 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 company’s stock. According to MarketBeat.com, Anterix has an average rating of “Moderate Buy” and a consensus target price of $101.00.

Anterix Price Performance

Shares of NASDAQ:ATEX opened at $88.20 on Monday. The company’s fifty day moving average price is $85.20 and its 200 day moving average price is $54.37. Anterix has a 12 month low of $17.58 and a 12 month high of $113.00. The firm has a market capitalization of $1.72 billion, a P/E ratio of 18.22 and a beta of 0.83.

Insiders Place Their Bets

In other news, Director Mark Fleischhauer sold 3,500 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $79.83, for a total value of $279,405.00. Following the completion of the sale, the director directly owned 12,769 shares of the company’s stock, valued at approximately $1,019,349.27. This represents a 21.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher Guttman-Mccabe sold 91,437 shares of the stock in a transaction dated 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 sale, the insider owned 77,807 shares of the company’s stock, valued at $6,415,965.22. This trade represents a 54.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 124,109 shares of company stock valued at $10,174,158. 40.05% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jefferies Financial Group Inc. acquired a new position in shares of Anterix in the fourth quarter valued at approximately $9,922,000. Millennium Management LLC grew its position in Anterix by 1,153.1% in the 4th quarter. Millennium Management LLC now owns 439,946 shares of the company’s stock valued at $9,604,000 after buying an additional 404,838 shares during the last quarter. Gamco Investors INC. ET AL grew its position in Anterix by 0.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 425,820 shares of the company’s stock valued at $16,262,000 after buying an additional 3,350 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Anterix by 30.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 424,856 shares of the company’s stock valued at $16,223,000 after buying an additional 99,933 shares during the period. Finally, State Street Corp increased its stake in Anterix by 5.4% in the 4th quarter. State Street Corp now owns 333,788 shares of the company’s stock valued at $7,287,000 after buying an additional 17,017 shares during the period. 87.67% of the stock is currently owned by hedge funds and other institutional investors.

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.