Scott Lang Sells 170 Shares of Anterix (NASDAQ:ATEX) Stock

Anterix Inc. (NASDAQ:ATEX) CEO Scott Lang sold 170 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $80.25, for a total value of $13,642.50. Following the transaction, the chief executive officer directly owned 76,527 shares in the company, valued at approximately $6,141,291.75. This represents a 0.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Anterix Stock Performance

Shares of ATEX stock opened at $79.98 on Wednesday. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 16.52 and a beta of 0.95. Anterix Inc. has a one year low of $17.58 and a one year high of $88.12. The company has a 50 day moving average price of $59.03 and a 200 day moving average price of $40.22.

Hedge Funds Weigh In On Anterix

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC lifted its position in shares of Anterix by 63.7% during the first quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock worth $36,000 after purchasing an additional 363 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Anterix by 299.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock valued at $42,000 after purchasing an additional 1,233 shares in the last quarter. Fifth Third Bancorp acquired a new stake in Anterix during the 1st quarter valued at $64,000. BNP Paribas Financial Markets increased its stake in Anterix by 119.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock worth $62,000 after buying an additional 1,308 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Anterix during the 3rd quarter worth $57,000. Institutional investors and hedge funds own 87.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ATEX shares. B. Riley Financial cut 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 report on Thursday, June 4th. Weiss Ratings upgraded Anterix from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, April 21st. One research 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 an average price target of $59.50.

Anterix Company Profile

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.