Y Intercept Hong Kong Ltd Has $674,000 Stake in Anterix Inc. $ATEX

Y Intercept Hong Kong Ltd reduced its holdings in Anterix Inc. (NASDAQ:ATEX) by 49.3% during the 3rd quarter, Holdings Channel reports. The fund owned 31,400 shares of the company’s stock after selling 30,512 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Anterix were worth $674,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Gamco Investors INC. ET AL increased its holdings in shares of Anterix by 35.0% in the second quarter. Gamco Investors INC. ET AL now owns 273,425 shares of the company’s stock valued at $7,013,000 after purchasing an additional 70,855 shares in the last quarter. AYAL Capital Advisors Ltd increased its stake in shares of Anterix by 143.4% in the 2nd quarter. AYAL Capital Advisors Ltd now owns 240,171 shares of the company’s stock valued at $6,160,000 after buying an additional 141,500 shares during the period. Geode Capital Management LLC raised its position in shares of Anterix by 8.7% during the second quarter. Geode Capital Management LLC now owns 383,557 shares of the company’s stock worth $9,840,000 after acquiring an additional 30,575 shares during the last quarter. Gabelli Funds LLC lifted its stake in shares of Anterix by 29.4% during the second quarter. Gabelli Funds LLC now owns 188,152 shares of the company’s stock valued at $4,826,000 after acquiring an additional 42,752 shares during the period. Finally, Pekin Hardy Strauss Inc. bought a new position in Anterix in the second quarter valued at about $417,000. Institutional investors own 87.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Zacks Research upgraded shares of Anterix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 7th. JPMorgan Chase & Co. reduced their price target on shares of Anterix from $67.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, October 17th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Anterix in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $50.00.

Anterix Trading Up 4.5%

ATEX stock opened at $27.45 on Tuesday. The firm has a market capitalization of $513.86 million, a PE ratio of 5.37 and a beta of 0.86. The business’s 50 day simple moving average is $22.67 and its 200 day simple moving average is $21.81. Anterix Inc. has a 1-year low of $17.58 and a 1-year high of $42.91.

Anterix (NASDAQ:ATEX) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.51. The business had revenue of $1.55 million during the quarter, compared to analysts’ expectations of $1.43 million. Anterix had a negative return on equity of 14.95% and a net margin of 1,614.08%. As a group, sell-side analysts predict that Anterix Inc. will post -1.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gena L. Ashe sold 6,564 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $21.07, for a total value of $138,303.48. Following the completion of the transaction, the insider owned 13,366 shares of the company’s stock, valued at $281,621.62. This represents a 32.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Scott A. Lang purchased 2,450 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was acquired at an average price of $20.41 per share, with a total value of $50,004.50. Following the completion of the transaction, the chief executive officer owned 7,100 shares in the company, valued at approximately $144,911. This trade represents a 52.69% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 45.61% of the stock is currently owned by insiders.

Anterix 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.