Anterix (NASDAQ:ATEX) Director William Heard Sells 46,400 Shares of Stock

Anterix Inc. (NASDAQ:ATEX) Director William Heard sold 46,400 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $90.11, for a total value of $4,181,104.00. Following the sale, the director owned 1,670,338 shares in the company, valued at approximately $150,514,157.18. This represents a 2.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Anterix Trading Down 0.9%

NASDAQ:ATEX opened at $90.75 on Wednesday. Anterix Inc. has a 1-year low of $17.58 and a 1-year high of $113.00. The firm has a fifty day simple moving average of $93.59 and a 200 day simple moving average of $61.31. The stock has a market capitalization of $1.78 billion, a PE ratio of 25.93 and a beta of 0.85.

Anterix (NASDAQ:ATEX) last issued its earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter, topping 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 the consensus estimate of $2.00 million. On average, equities analysts predict that Anterix Inc. will post -2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Anterix

Large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Anterix during the 2nd quarter worth about $110,672,000. Jupiter Topco LLC bought a new stake in shares of Anterix during the second quarter worth approximately $68,189,000. Jefferies Financial Group Inc. bought a new stake in shares of Anterix during the fourth quarter worth approximately $9,922,000. Millennium Management LLC boosted its holdings in shares of Anterix by 1,153.1% during the fourth quarter. Millennium Management LLC now owns 439,946 shares of the company’s stock worth $9,604,000 after acquiring an additional 404,838 shares during the period. Finally, Gamco Investors INC. ET AL grew its position in shares of Anterix by 0.8% in the first quarter. Gamco Investors INC. ET AL now owns 425,820 shares of the company’s stock valued at $16,262,000 after purchasing an additional 3,350 shares during the last quarter. 87.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ATEX shares. B. Riley Financial cut shares of 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 report on Thursday, June 4th. JPMorgan Chase & Co. reduced their price target on Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. Clear Str raised Anterix to a “strong-buy” rating in a research report on Monday, July 27th. Weiss Ratings upgraded Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. Finally, Wall Street Zen cut Anterix from a “hold” rating to a “sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.50.

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.