Insider Selling: Anterix (NASDAQ:ATEX) CFO Sells $400,621.83 in Stock

Anterix Inc. (NASDAQ:ATEX) CFO Elena Marquez sold 4,981 shares of the stock in a transaction on Friday, October 9th. The shares were sold at an average price of $80.43, for a total value of $400,621.83. Following the sale, the chief financial officer owned 12,604 shares in the company, valued at $1,013,739.72. The trade was a 28.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Anterix Stock Performance

Shares of ATEX opened at $84.48 on Friday. The business has a fifty day moving average of $85.72 and a 200 day moving average of $76.02. Anterix Inc. has a 52-week low of $17.58 and a 52-week high of $113.00.

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

Institutional Trading of Anterix

Several institutional investors and hedge funds have recently made changes to their positions in ATEX. Integrated Wealth Concepts LLC bought a new position in shares of Anterix in the second quarter worth about $35,000. Parallel Advisors LLC increased its stake in Anterix by 63.7% in the 1st quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock worth $36,000 after buying an additional 363 shares during the period. Fifth Third Bancorp purchased a new position in Anterix in the 1st quarter worth about $64,000. Legal & General Group Plc bought a new stake in Anterix during the 2nd quarter valued at about $222,000. Finally, Ieq Capital LLC bought a new stake in Anterix during the 2nd quarter valued at about $226,000. 87.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings raised shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 2nd. Wall Street Zen lowered Anterix from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Clear Str upgraded Anterix to a “strong-buy” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. cut their target price on 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 report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Anterix currently has a consensus 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.