Christopher Guttman-Mccabe Sells 23,439 Shares of Anterix (NASDAQ:ATEX) Stock

Anterix Inc. (NASDAQ:ATEX) insider Christopher Guttman-Mccabe sold 23,439 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $92.36, for a total transaction of $2,164,826.04. Following the sale, the insider directly owned 44,876 shares of the company’s stock, valued at approximately $4,144,747.36. This represents a 34.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Christopher Guttman-Mccabe also recently made the following trade(s):

• On Monday, June 15th, Christopher Guttman-Mccabe sold 91,437 shares of Anterix stock. The stock was sold at an average price of $82.46, for a total transaction of $7,539,895.02.

Anterix Price Performance

ATEX opened at $92.33 on Friday. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 26.38 and a beta of 0.85. The company’s 50 day simple moving average is $95.86 and its two-hundred day simple moving average is $64.67. Anterix Inc. has a 1-year low of $17.58 and a 1-year high of $113.00.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ATEX. BlackRock Inc. purchased a new position in Anterix in the second quarter worth approximately $110,672,000. Jupiter Topco LLC purchased a new stake in Anterix in the second quarter valued at $68,189,000. Jefferies Financial Group Inc. purchased a new stake in Anterix in the fourth quarter valued at $9,922,000. Millennium Management LLC raised its position in Anterix by 1,153.1% in the fourth quarter. Millennium Management LLC now owns 439,946 shares of the company’s stock valued at $9,604,000 after purchasing an additional 404,838 shares during the period. Finally, Gamco Investors INC. ET AL lifted its stake in shares of Anterix by 0.8% in the 1st 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 currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ATEX shares. JPMorgan Chase & Co. dropped their target price on Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. Wall Street Zen lowered Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Clear Str raised shares of Anterix to a “strong-buy” rating in a research report on Monday, July 27th. Weiss Ratings raised shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. Finally, B. Riley Financial lowered shares of Anterix from a “buy” rating to a “neutral” rating and upped their price objective for the company from $44.00 to $69.00 in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $120.00.

About Anterix

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.