Anterix (NASDAQ:ATEX) Insider Christopher Guttman-Mccabe Sells 91,437 Shares

Anterix Inc. (NASDAQ:ATEX) insider Christopher Guttman-Mccabe sold 91,437 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $82.46, for a total transaction of $7,539,895.02. Following the transaction, the insider owned 77,807 shares in the company, valued at approximately $6,415,965.22. The trade was a 54.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Anterix Stock Performance

Shares of NASDAQ:ATEX traded up $1.53 on Wednesday, hitting $79.16. 469,364 shares of the company were exchanged, compared to its average volume of 488,175. The company’s 50 day moving average price is $56.03 and its two-hundred day moving average price is $38.64. Anterix Inc. has a one year low of $17.58 and a one year high of $88.12. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 16.36 and a beta of 0.95.

Hedge Funds Weigh In On Anterix

A number of large investors have recently modified their holdings of the stock. Jefferies Financial Group Inc. acquired a new position in shares of Anterix during the fourth quarter worth approximately $9,922,000. Millennium Management LLC lifted its position in shares of Anterix by 1,153.1% during the fourth quarter. Millennium Management LLC now owns 439,946 shares of the company’s stock worth $9,604,000 after purchasing an additional 404,838 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Anterix by 0.8% during the first quarter. Gamco Investors INC. ET AL now owns 425,820 shares of the company’s stock worth $16,262,000 after purchasing an additional 3,350 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Anterix by 30.8% during the first quarter. Dimensional Fund Advisors LP now owns 424,856 shares of the company’s stock worth $16,223,000 after purchasing an additional 99,933 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Anterix by 5.4% during the fourth quarter. State Street Corp now owns 333,788 shares of the company’s stock worth $7,287,000 after purchasing an additional 17,017 shares in the last quarter. 87.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ATEX has been the topic of several recent research reports. B. Riley Financial lowered shares of 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. Weiss Ratings upgraded shares of Anterix from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.