Anterix (NASDAQ:ATEX) Posts Earnings Results, Beats Estimates By $0.42 EPS

Anterix (NASDAQ:ATEX) posted its quarterly earnings data on Wednesday. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.42, Zacks reports. Anterix had a net margin of 495.14% and a negative return on equity of 23.87%.

Anterix Price Performance

NASDAQ ATEX traded up $0.35 during trading on Wednesday, reaching $18.35. 242,749 shares of the company’s stock traded hands, compared to its average volume of 181,179. Anterix has a 12-month low of $17.58 and a 12-month high of $42.91. The firm has a market cap of $343.88 million, a price-to-earnings ratio of 11.76 and a beta of 0.80. The company’s 50 day simple moving average is $20.94 and its two-hundred day simple moving average is $23.79.

Insider Activity

In other Anterix news, CEO Scott A. Lang acquired 4,650 shares of the company’s stock in a transaction dated Thursday, September 18th. The shares were purchased at an average cost of $21.28 per share, for a total transaction of $98,952.00. Following the completion of the purchase, the chief executive officer owned 4,650 shares in the company, valued at approximately $98,952. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 45.61% of the company’s stock.

Institutional Trading of Anterix

A number of hedge funds have recently bought and sold shares of ATEX. Tower Research Capital LLC TRC increased its holdings 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 acquiring an additional 1,233 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Anterix during the 3rd quarter worth $57,000. BNP Paribas Financial Markets boosted its position in Anterix by 119.3% during the second 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 in the last quarter. Russell Investments Group Ltd. boosted its position in Anterix by 12.4% during the second quarter. Russell Investments Group Ltd. now owns 5,760 shares of the company’s stock valued at $148,000 after purchasing an additional 637 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Anterix by 17.0% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,084 shares of the company’s stock valued at $182,000 after purchasing an additional 1,029 shares during the last quarter. Hedge funds and other institutional investors own 87.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on Anterix from $67.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, October 17th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Anterix in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Anterix from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $50.00.

About Anterix

Anterix Inc operates as a wireless communications company. The company focuses on commercializing its spectrum assets to enable the targeted utility and critical infrastructure customers to deploy private broadband networks and innovative broadband solutions. It holds licensed spectrum in the 900 MHz band with coverage throughout the United States, Alaska, Hawaii, and Puerto Rico.