Inspire Investing LLC Invests $508,000 in Anterix Inc. $ATEX

Inspire Investing LLC bought a new stake in Anterix Inc. (NASDAQ:ATEX) during the first quarter, Holdings Channel reports. The institutional investor bought 13,309 shares of the company’s stock, valued at approximately $508,000.

Several other hedge funds also recently modified their holdings of ATEX. AQR Capital Management LLC raised its position in Anterix by 16.9% in the 1st quarter. AQR Capital Management LLC now owns 11,489 shares of the company’s stock valued at $420,000 after buying an additional 1,659 shares during the last quarter. Millennium Management LLC grew its stake in shares of Anterix by 50.6% in the 1st quarter. Millennium Management LLC now owns 116,473 shares of the company’s stock worth $4,263,000 after acquiring an additional 39,143 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Anterix by 17.7% in the first quarter. Goldman Sachs Group Inc. now owns 124,706 shares of the company’s stock valued at $4,564,000 after purchasing an additional 18,771 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Anterix by 19.7% during the second quarter. Legal & General Group Plc now owns 11,303 shares of the company’s stock valued at $290,000 after purchasing an additional 1,857 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Anterix by 70.9% during the second quarter. Rhumbline Advisers now owns 27,998 shares of the company’s stock valued at $718,000 after purchasing an additional 11,615 shares in the last quarter. Hedge funds and other institutional investors own 87.67% of the company’s stock.

Insider Activity at Anterix

In related news, Director Mahvash Yazdi sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $80.00, for a total transaction of $560,000.00. Following the completion of the sale, the director owned 19,407 shares in the company, valued at approximately $1,552,560. This trade represents a 26.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Elena Marquez sold 4,291 shares of Anterix stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $79.50, for a total transaction of $341,134.50. Following the completion of the sale, the chief financial officer directly owned 18,387 shares in the company, valued at approximately $1,461,766.50. This represents a 18.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 124,109 shares of company stock valued at $10,174,158 in the last 90 days. 40.05% of the stock is currently owned by company insiders.

Anterix Price Performance

Shares of Anterix stock opened at $105.14 on Monday. The firm has a market cap of $2.05 billion, a PE ratio of 21.72 and a beta of 0.83. Anterix Inc. has a 1 year low of $17.58 and a 1 year high of $111.90. The stock has a fifty day moving average price of $67.91 and a 200-day moving average price of $44.43.

Analyst Ratings Changes

Several research firms recently weighed in on ATEX. Weiss Ratings upgraded shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. Wall Street Zen raised shares of Anterix from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, B. Riley Financial downgraded Anterix from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $44.00 to $69.00 in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.