Anterix (NASDAQ:ATEX) Director Sells 6,000 Shares

Anterix Inc. (NASDAQ:ATEX) Director Leslie Daniels sold 6,000 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $87.15, for a total transaction of $522,900.00. Following the completion of the sale, the director directly owned 50,077 shares of the company’s stock, valued at $4,364,210.55. This trade represents a 10.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Anterix Price Performance

ATEX traded down $0.83 on Tuesday, reaching $85.44. 229,616 shares of the company traded hands, compared to its average volume of 389,373. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 24.41 and a beta of 0.84. The stock’s 50 day moving average price is $96.30 and its 200-day moving average price is $67.33. Anterix Inc. has a 52-week low of $17.58 and a 52-week high of $113.00.

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

Institutional Trading of Anterix

Several large investors have recently made changes to their positions in ATEX. Bank of America Corp DE increased its holdings in shares of Anterix by 17.2% during the 1st quarter. Bank of America Corp DE now owns 167,781 shares of the company’s stock valued at $6,408,000 after acquiring an additional 24,657 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in Anterix by 22.3% in the 4th quarter. GSA Capital Partners LLP now owns 72,976 shares of the company’s stock worth $1,593,000 after purchasing an additional 13,324 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Anterix during the second quarter worth approximately $7,141,000. Kirr Marbach & Co. LLC IN grew its holdings in Anterix by 13.3% during the first quarter. Kirr Marbach & Co. LLC IN now owns 113,814 shares of the company’s stock valued at $4,347,000 after purchasing an additional 13,396 shares during the last quarter. Finally, Waterfront Wealth Inc. raised its position in shares of Anterix by 23.3% in the first quarter. Waterfront Wealth Inc. now owns 59,955 shares of the company’s stock valued at $2,290,000 after purchasing an additional 11,328 shares during the period. Institutional investors own 87.67% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wall Street Zen downgraded Anterix from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. JPMorgan Chase & Co. cut their price target on Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Weiss Ratings raised Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. Clear Str raised shares of Anterix to a “strong-buy” rating in a research report on Monday, July 27th. Finally, DA Davidson set a $161.00 target price on shares of Anterix in a research note on Friday, August 21st. One 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. According to MarketBeat, Anterix currently has a consensus rating of “Moderate Buy” and an average target price of $120.00.

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.