Anterix (NASDAQ:ATEX) CEO Scott Lang Sells 170 Shares

Anterix Inc. (NASDAQ:ATEX) CEO Scott Lang sold 170 shares of Anterix stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $80.25, for a total value of $13,642.50. Following the completion of the transaction, the chief executive officer owned 76,527 shares of the company’s stock, valued at approximately $6,141,291.75. The trade was a 0.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Anterix Stock Performance

Anterix stock opened at $77.02 on Tuesday. The business’s fifty day moving average is $58.15 and its two-hundred day moving average is $39.80. The firm has a market cap of $1.44 billion, a P/E ratio of 15.91 and a beta of 0.95. Anterix Inc. has a 52 week low of $17.58 and a 52 week high of $88.12.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ATEX shares. Weiss Ratings raised Anterix from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, April 21st. B. Riley Financial lowered Anterix from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $44.00 to $69.00 in a research report on Thursday, June 4th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $59.50.

Hedge Funds Weigh In On Anterix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its position in shares of Anterix by 63.7% during the 1st quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock worth $36,000 after buying an additional 363 shares during the period. Bank of America Corp DE raised its position in shares of Anterix by 17.2% in the 1st quarter. Bank of America Corp DE now owns 167,781 shares of the company’s stock valued at $6,408,000 after acquiring an additional 24,657 shares during the period. Royal Bank of Canada boosted its stake in Anterix by 151.2% during the 1st quarter. Royal Bank of Canada now owns 3,034 shares of the company’s stock worth $116,000 after acquiring an additional 1,826 shares during the last quarter. Quantinno Capital Management LP boosted its stake in Anterix by 64.6% during the 1st quarter. Quantinno Capital Management LP now owns 15,619 shares of the company’s stock worth $596,000 after acquiring an additional 6,132 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew 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 during the period. Institutional investors 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.