Anterix (NASDAQ:ATEX) Chairman Sells $888,500.00 in Stock

Anterix Inc. (NASDAQ:ATEX) Chairman Thomas Kuhn sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $88.85, for a total transaction of $888,500.00. Following the completion of the sale, the chairman owned 17,731 shares of the company’s stock, valued at approximately $1,575,399.35. The trade was a 36.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Anterix Trading Down 2.5%

NASDAQ ATEX opened at $92.33 on Friday. The business’s 50 day moving average is $95.86 and its two-hundred day moving average is $64.67. Anterix Inc. has a 12-month low of $17.58 and a 12-month high of $113.00. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 26.38 and a beta of 0.85.

Anterix (NASDAQ:ATEX) last issued its earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.44. The business had revenue of $1.96 million during the quarter, compared to the consensus estimate of $2.00 million. Anterix had a negative return on equity of 10.65% and a net margin of 933.03%. Equities analysts forecast that Anterix Inc. will post -2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. B. Riley Financial downgraded Anterix from a “buy” rating to a “neutral” rating and raised their target price for the company from $44.00 to $69.00 in a report on Thursday, June 4th. DA Davidson set a $161.00 price target on shares of Anterix in a research note on Friday, August 21st. Wall Street Zen downgraded shares of Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Clear Str upgraded shares of Anterix to a “strong-buy” rating in a research note on Monday, July 27th. Finally, Weiss Ratings raised shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Anterix presently has an average rating of “Moderate Buy” and an average target price of $120.00.

Institutional Trading of Anterix

A number of institutional investors have recently bought and sold shares of ATEX. Parallel Advisors LLC grew its holdings in Anterix by 63.7% in the first quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock valued at $36,000 after purchasing an additional 363 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Anterix by 299.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock worth $42,000 after buying an additional 1,233 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Anterix during the 3rd quarter worth $57,000. BNP Paribas Financial Markets boosted its position in shares of Anterix by 119.3% in 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 in the last quarter. Finally, Fifth Third Bancorp purchased a new stake in shares of Anterix in the 1st quarter worth about $64,000. 87.67% of the stock is currently owned by hedge funds and other institutional investors.

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.