Leslie Daniels Sells 6,000 Shares of Anterix (NASDAQ:ATEX) Stock

Anterix Inc. (NASDAQ:ATEX) Director Leslie Daniels sold 6,000 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $87.15, for a total value of $522,900.00. Following the completion of the sale, the director owned 50,077 shares in the company, valued at approximately $4,364,210.55. The trade was a 10.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Anterix Trading Down 1.8%

NASDAQ:ATEX opened at $83.93 on Thursday. The company has a market cap of $1.65 billion, a price-to-earnings ratio of 23.98 and a beta of 0.84. Anterix Inc. has a twelve month low of $17.58 and a twelve month high of $113.00. The stock has a fifty day simple moving average of $95.46 and a 200-day simple moving average of $68.05.

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

Institutional Trading of Anterix

Several hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC acquired a new stake in Anterix in the second quarter valued at approximately $35,000. Parallel Advisors LLC lifted its holdings in shares of Anterix by 63.7% during the 1st 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 last quarter. Tower Research Capital LLC TRC boosted 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 worth $42,000 after purchasing an additional 1,233 shares in the last quarter. Quantbot Technologies LP purchased a new position in Anterix during the 3rd quarter worth $57,000. Finally, BNP Paribas Financial Markets increased its position in Anterix by 119.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock valued at $62,000 after buying an additional 1,308 shares in the last quarter. 87.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ATEX. JPMorgan Chase & Co. lowered their price target on Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. B. Riley Financial lowered Anterix from a “buy” rating to a “neutral” rating and lifted their target price for the company from $44.00 to $69.00 in a research report on Thursday, June 4th. DA Davidson set a $161.00 price target on Anterix in a research report on Friday, August 21st. Weiss Ratings upgraded Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. Finally, Clear Str upgraded Anterix to a “strong-buy” rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Anterix currently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

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.