Insider Selling: Anterix (NASDAQ:ATEX) Director Sells $279,405.00 in Stock

Anterix Inc. (NASDAQ:ATEX) Director Mark Fleischhauer sold 3,500 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $79.83, for a total transaction of $279,405.00. Following the completion of the transaction, the director owned 12,769 shares in the company, valued at approximately $1,019,349.27. This trade represents a 21.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Anterix Stock Performance

Shares of NASDAQ ATEX opened at $74.53 on Friday. Anterix Inc. has a 12 month low of $17.58 and a 12 month high of $88.12. The company has a 50 day simple moving average of $57.36 and a two-hundred day simple moving average of $39.26. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 15.40 and a beta of 0.95.

Analyst Upgrades and Downgrades

ATEX has been the topic of several recent research reports. Weiss Ratings raised shares of Anterix from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, April 21st. B. Riley Financial lowered Anterix from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $44.00 to $69.00 in a research note on Thursday, June 4th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $59.50.

Institutional Investors Weigh In On Anterix

Several hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC grew its stake in shares of Anterix by 63.7% during the 1st quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock worth $36,000 after purchasing an additional 363 shares during the period. Bank of America Corp DE lifted its stake in shares of Anterix by 17.2% in the 1st quarter. Bank of America Corp DE now owns 167,781 shares of the company’s stock valued at $6,408,000 after purchasing an additional 24,657 shares during the period. Royal Bank of Canada boosted its holdings in Anterix by 151.2% during the first quarter. Royal Bank of Canada now owns 3,034 shares of the company’s stock worth $116,000 after buying an additional 1,826 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in Anterix by 64.6% during the first quarter. Quantinno Capital Management LP now owns 15,619 shares of the company’s stock worth $596,000 after buying an additional 6,132 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its position in Anterix by 0.8% during the first quarter. Gamco Investors INC. ET AL now owns 425,820 shares of the company’s stock valued at $16,262,000 after buying an additional 3,350 shares during the period. Hedge funds and other institutional investors 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.