Anterix (NASDAQ:ATEX) Chairman Thomas Kuhn Sells 10,000 Shares

Anterix Inc. (NASDAQ:ATEX) Chairman Thomas Kuhn sold 10,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $88.85, for a total value of $888,500.00. Following the sale, the chairman owned 17,731 shares in the company, valued at approximately $1,575,399.35. The trade was a 36.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Anterix Stock Up 1.9%

Shares of NASDAQ:ATEX opened at $94.16 on Thursday. Anterix Inc. has a 52-week low of $17.58 and a 52-week high of $113.00. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 26.90 and a beta of 0.85. The business has a 50-day moving average price of $95.10 and a 200-day moving average price of $64.01.

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

Analysts Set New Price Targets

ATEX has been the subject of several research reports. DA Davidson set a $161.00 price objective on shares of Anterix in a research note on Friday, August 21st. Clear Str upgraded shares of Anterix to a “strong-buy” rating in a research note on Monday, July 27th. B. Riley Financial cut shares of Anterix from a “buy” rating to a “neutral” rating and raised their target price for the stock from $44.00 to $69.00 in a report on Thursday, June 4th. JPMorgan Chase & Co. decreased their target price on shares of Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Finally, Weiss Ratings raised shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Anterix during the 2nd quarter valued at approximately $110,672,000. Jupiter Topco LLC acquired a new position in shares of Anterix in the 2nd quarter valued at $68,189,000. Jefferies Financial Group Inc. purchased a new stake in Anterix during the fourth quarter worth $9,922,000. Millennium Management LLC boosted its holdings in 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 buying an additional 404,838 shares in the last quarter. Finally, Panoramic Capital LLC purchased a new stake in Anterix during the second quarter worth $15,892,000. 87.67% of the stock is currently owned by hedge funds and other institutional investors.

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.