Anterix (NASDAQ:ATEX) CEO Acquires $50,004.50 in Stock

Anterix Inc. (NASDAQ:ATEX) CEO Scott Lang purchased 2,450 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was bought at an average price of $20.41 per share, for a total transaction of $50,004.50. Following the transaction, the chief executive officer directly owned 7,100 shares of the company’s stock, valued at $144,911. This trade represents a 52.69% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Anterix Price Performance

ATEX traded up $0.03 on Wednesday, hitting $21.61. 274,451 shares of the stock were exchanged, compared to its average volume of 185,943. The firm has a market capitalization of $404.47 million, a price-to-earnings ratio of 4.23 and a beta of 0.92. Anterix Inc. has a 12 month low of $17.58 and a 12 month high of $42.91. The business has a 50-day moving average of $20.41 and a two-hundred day moving average of $22.63.

Anterix (NASDAQ:ATEX) last released its earnings results on Wednesday, November 12th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.65) by $0.51. The firm had revenue of $1.55 million for the quarter, compared to analyst estimates of $1.43 million. Anterix had a net margin of 1,614.08% and a negative return on equity of 14.95%. Equities research analysts expect that Anterix Inc. will post -1.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on ATEX. Wall Street Zen cut Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. JPMorgan Chase & Co. lowered their target price on Anterix from $67.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, October 17th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Anterix in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Anterix presently has a consensus rating of “Hold” and a consensus target price of $50.00.

Institutional Investors Weigh In On Anterix

Several hedge funds have recently added to or reduced their stakes in ATEX. Scoggin Management LP bought a new stake in Anterix during the 1st quarter worth approximately $10,980,000. Nuveen LLC bought a new stake in shares of Anterix in the first quarter worth $7,204,000. Roubaix Capital LLC acquired a new stake in Anterix in the first quarter valued at $5,918,000. AYAL Capital Advisors Ltd raised its position in Anterix by 143.4% during the 2nd quarter. AYAL Capital Advisors Ltd now owns 240,171 shares of the company’s stock worth $6,160,000 after purchasing an additional 141,500 shares during the last quarter. Finally, Gabelli Funds LLC lifted its holdings in Anterix by 52.2% during the 3rd quarter. Gabelli Funds LLC now owns 286,282 shares of the company’s stock worth $6,146,000 after buying an additional 98,130 shares during the period. 87.67% of the stock is currently owned by institutional investors and hedge funds.

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.