Anterix (NASDAQ:ATEX) Director Sells $560,000.00 in Stock

Anterix Inc. (NASDAQ:ATEX) Director Mahvash Yazdi sold 7,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $80.00, for a total value of $560,000.00. Following the completion of the sale, the director directly owned 19,407 shares of the company’s stock, valued at approximately $1,552,560. This represents a 26.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Anterix Price Performance

Shares of NASDAQ:ATEX traded up $1.53 during midday trading on Wednesday, hitting $79.16. The company had a trading volume of 469,364 shares, compared to its average volume of 488,175. The business’s 50-day simple moving average is $56.03 and its 200-day simple moving average is $38.64. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 16.36 and a beta of 0.95. Anterix Inc. has a twelve month low of $17.58 and a twelve month high of $88.12.

Hedge Funds Weigh In On Anterix

A number of hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC raised its position in Anterix by 63.7% in the first quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock valued at $36,000 after purchasing an additional 363 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Anterix by 299.3% in the 2nd 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 purchased a new stake in Anterix in the 1st quarter valued at $64,000. BNP Paribas Financial Markets raised its position in Anterix by 119.3% in 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 during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Anterix in the 3rd quarter valued at $57,000. Hedge funds and other institutional investors own 87.67% of the company’s stock.

Analysts Set New Price Targets

ATEX has been the subject of a number of analyst reports. 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. Weiss Ratings upgraded shares of Anterix from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $59.50.

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.