Thomas Kuhn Sells 1,654 Shares of Anterix (NASDAQ:ATEX) Stock

Anterix Inc. (NASDAQ:ATEX) Chairman Thomas Kuhn sold 1,654 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $79.52, for a total value of $131,526.08. Following the transaction, the chairman owned 17,731 shares of the company’s stock, valued at approximately $1,409,969.12. This represents a 8.53% decrease in their ownership of the stock. The sale 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.

Anterix Price Performance

Shares of ATEX stock opened at $94.67 on Friday. Anterix Inc. has a 12-month low of $17.58 and a 12-month high of $113.00. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 27.05 and a beta of 0.85. The business has a 50 day simple moving average of $95.51 and a 200 day simple moving average of $64.48.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ATEX shares. JPMorgan Chase & Co. cut their price objective on shares of Anterix from $133.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. B. Riley Financial cut shares of Anterix from a “buy” rating to a “neutral” rating and raised their target price for the company from $44.00 to $69.00 in a research note on Thursday, June 4th. Wall Street Zen cut shares of Anterix from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. DA Davidson set a $161.00 price target on shares of Anterix in a research report on Friday, August 21st. Finally, Clear Str raised shares of Anterix to a “strong-buy” rating in a research note on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.00.

Institutional Trading of Anterix

Several institutional investors and hedge funds have recently bought and sold shares of ATEX. Bank of America Corp DE boosted its holdings in shares of Anterix by 17.2% in the first quarter. Bank of America Corp DE now owns 167,781 shares of the company’s stock worth $6,408,000 after buying an additional 24,657 shares during the period. GSA Capital Partners LLP raised its holdings in shares of Anterix by 22.3% during the fourth quarter. GSA Capital Partners LLP now owns 72,976 shares of the company’s stock valued at $1,593,000 after acquiring an additional 13,324 shares during the period. Kirr Marbach & Co. LLC IN raised its holdings in shares of Anterix by 13.3% during the first quarter. Kirr Marbach & Co. LLC IN now owns 113,814 shares of the company’s stock valued at $4,347,000 after acquiring an additional 13,396 shares during the period. Waterfront Wealth Inc. lifted its position in shares of Anterix by 23.3% in the 1st quarter. Waterfront Wealth Inc. now owns 59,955 shares of the company’s stock valued at $2,290,000 after acquiring an additional 11,328 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position 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 acquiring an additional 99,933 shares in the last quarter. Institutional investors and hedge funds own 87.67% of the company’s stock.

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.