Anterix (NASDAQ:ATEX) Trading Up 7.3% – Still a Buy?

Anterix Inc. (NASDAQ:ATEX)’s share price rose 7.3% during mid-day trading on Monday . The stock traded as high as $85.06 and last traded at $82.6170. 60,403 shares were traded during trading, a decline of 84% from the average daily volume of 387,573 shares. The stock had previously closed at $76.99.

Wall Street Analyst Weigh In

A number of research firms recently commented on ATEX. Wall Street Zen downgraded Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings downgraded shares of Anterix from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, September 17th. Clear Str upgraded shares of Anterix to a “strong-buy” rating in a research note on Monday, July 27th. DA Davidson set a $161.00 price target on shares of Anterix in a report on Friday, August 21st. Finally, JPMorgan Chase & Co. reduced 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. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Anterix has an average rating of “Moderate Buy” and a consensus price target of $120.00.

Anterix Stock Up 1.9%

The stock has a market cap of $1.67 billion, a P/E ratio of 24.35 and a beta of 0.84. The business has a 50-day simple moving average of $91.04 and a 200-day simple moving average of $70.77.

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

Insider Activity

In other news, insider Christopher Guttman-Mccabe sold 23,439 shares of Anterix stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $92.36, for a total value of $2,164,826.04. Following the transaction, the insider directly owned 44,876 shares in the company, valued at approximately $4,144,747.36. The trade was a 34.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CMO Heather Martin sold 8,064 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $84.20, for a total value of $678,988.80. Following the transaction, the chief marketing officer directly owned 26,743 shares of the company’s stock, valued at $2,251,760.60. This represents a 23.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 119,860 shares of company stock worth $10,575,143. Insiders own 40.05% of the company’s stock.

Institutional Investors Weigh In On Anterix

Hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new position in Anterix during the second quarter worth $110,672,000. Jupiter Topco LLC acquired a new stake in shares of Anterix during the 2nd quarter valued at about $68,189,000. Gamco Investors INC. ET AL boosted its holdings in Anterix by 0.8% during the first 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Anterix by 30.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 424,856 shares of the company’s stock valued at $16,223,000 after purchasing an additional 99,933 shares during the period. Finally, AYAL Capital Advisors Ltd raised its holdings in shares of Anterix by 26.8% in the 4th quarter. AYAL Capital Advisors Ltd now owns 265,000 shares of the company’s stock worth $5,785,000 after buying an additional 56,029 shares in the last quarter. 87.67% of the stock is owned by institutional investors.

About Anterix

Anterix Inc (NASDAQ: ATEX) provides private wireless broadband solutions for critical infrastructure organizations, with a primary focus on electric utilities in the United States. The company’s services are designed to support mission-critical communications, grid modernization, operational technology, and other applications that require secure and reliable connectivity.

Anterix owns and manages licensed spectrum in the 900 MHz band and makes that spectrum available through arrangements with utility and infrastructure customers.