Anterix (NASDAQ:ATEX) CMO Heather Martin Sells 8,064 Shares of Stock

Anterix Inc. (NASDAQ:ATEX) CMO Heather Martin sold 8,064 shares of Anterix stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $84.20, for a total value of $678,988.80. Following the completion of the transaction, the chief marketing officer owned 26,743 shares in the company, valued at $2,251,760.60. This trade represents a 23.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Anterix Price Performance

Shares of ATEX stock traded down $0.65 during mid-day trading on Friday, hitting $82.14. 431,279 shares of the stock traded hands, compared to its average volume of 389,341. 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 $1.61 billion, a P/E ratio of 23.47 and a beta of 0.84. The stock’s fifty day moving average is $95.02 and its two-hundred day moving average is $68.38.

Anterix (NASDAQ:ATEX) last issued its quarterly earnings data 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 firm had revenue of $1.96 million for 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 analysts forecast that Anterix Inc. will post -2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Clear Str raised shares of Anterix to a “strong-buy” rating in a report on Monday, July 27th. 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 target price on Anterix from $133.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. DA Davidson set a $161.00 target price on Anterix in a research report on Friday, August 21st. Finally, Wall Street Zen cut Anterix from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $120.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC purchased a new position in shares of Anterix in the second quarter worth $35,000. Parallel Advisors LLC grew its holdings in shares of Anterix by 63.7% during the first quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock valued at $36,000 after buying an additional 363 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Anterix by 299.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock valued at $42,000 after buying an additional 1,233 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of Anterix in the 1st quarter valued at $64,000. Finally, Legal & General Group Plc acquired a new position in shares of Anterix in the 2nd quarter valued at $222,000. Institutional investors and hedge funds own 87.67% of the company’s stock.

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.