Anterix (NASDAQ:ATEX) Director Leslie Daniels Sells 4,100 Shares of Stock

Anterix Inc. (NASDAQ:ATEX) Director Leslie Daniels sold 4,100 shares of the business’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $87.07, for a total transaction of $356,987.00. Following the completion of the sale, the director owned 45,977 shares in the company, valued at $4,003,217.39. This represents a 8.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Anterix Stock Down 1.0%

ATEX stock opened at $85.44 on Wednesday. Anterix Inc. has a 52 week low of $17.58 and a 52 week high of $113.00. The firm has a market capitalization of $1.68 billion, a P/E ratio of 24.41 and a beta of 0.84. The company has a fifty day simple moving average of $95.95 and a two-hundred day simple moving average of $67.70.

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

Hedge Funds Weigh In On Anterix

Several hedge funds have recently bought and sold shares of ATEX. Parallel Advisors LLC lifted its position in shares of Anterix by 63.7% during the first quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock worth $36,000 after purchasing an additional 363 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Anterix by 299.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock worth $42,000 after purchasing an additional 1,233 shares during the period. Quantbot Technologies LP purchased a new position in Anterix during the 3rd quarter worth $57,000. BNP Paribas Financial Markets raised its position in Anterix by 119.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock valued at $62,000 after purchasing an additional 1,308 shares in the last quarter. Finally, Fifth Third Bancorp bought a new stake in Anterix during the 1st quarter valued at $64,000. Institutional investors own 87.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Weiss Ratings raised Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. JPMorgan Chase & Co. dropped their price objective on shares of Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Wall Street Zen cut shares of Anterix from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. B. Riley Financial downgraded shares of Anterix from a “buy” rating to a “neutral” rating and increased their target price for the company from $44.00 to $69.00 in a research note on Thursday, June 4th. Finally, DA Davidson set a $161.00 target price on shares of Anterix in a report on Friday, August 21st. One 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.