Anterix (NASDAQ:ATEX) Director Leslie Daniels Sells 6,000 Shares

Anterix Inc. (NASDAQ:ATEX) Director Leslie Daniels sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $87.15, for a total value of $522,900.00. Following the completion of the sale, the director directly owned 50,077 shares of the company’s stock, valued at $4,364,210.55. The trade was a 10.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Anterix Trading Down 1.0%

Shares of NASDAQ:ATEX opened at $85.44 on Wednesday. Anterix Inc. has a 12 month low of $17.58 and a 12 month high of $113.00. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 24.41 and a beta of 0.84. The firm’s 50-day moving average is $95.95 and its 200 day moving average is $67.70.

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

Wall Street Analysts Forecast Growth

ATEX has been the topic of a number of recent research reports. Weiss Ratings raised Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. Wall Street Zen downgraded shares of Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. B. Riley Financial lowered shares of Anterix from a “buy” rating to a “neutral” rating and increased their price target for the company from $44.00 to $69.00 in a research report on Thursday, June 4th. Clear Str upgraded shares of Anterix to a “strong-buy” rating in a report on Monday, July 27th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Anterix from $133.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Anterix has a consensus rating of “Moderate Buy” and an average target price of $120.00.

Institutional Trading of Anterix

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Anterix in the 2nd quarter worth approximately $110,672,000. Jupiter Topco LLC acquired a new stake in shares of Anterix in the second quarter worth $68,189,000. Jefferies Financial Group Inc. acquired a new stake in shares of Anterix in the fourth quarter worth $9,922,000. Millennium Management LLC raised its holdings 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 during the last quarter. Finally, Panoramic Capital LLC purchased a new stake in Anterix in the second quarter valued at $15,892,000. Hedge funds and other institutional investors own 87.67% of the company’s stock.

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.