Gena Ashe Sells 4,357 Shares of Anterix (NASDAQ:ATEX) Stock

Anterix Inc. (NASDAQ:ATEX) insider Gena Ashe sold 4,357 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $85.44, for a total value of $372,262.08. Following the transaction, the insider owned 5,174 shares in the company, valued at approximately $442,066.56. This trade represents a 45.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Anterix Trading Down 1.8%

Shares of Anterix stock opened at $83.93 on Thursday. The firm has a fifty day simple moving average of $95.46 and a 200-day simple moving average of $68.05. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 23.98 and a beta of 0.84. Anterix Inc. has a 1-year low of $17.58 and a 1-year high of $113.00.

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

Institutional Investors Weigh In On Anterix

Several hedge funds have recently made changes to their positions in ATEX. Integrated Wealth Concepts LLC acquired a new stake in Anterix during the second quarter worth about $35,000. Parallel Advisors LLC raised its holdings in Anterix by 63.7% in the 1st quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock valued at $36,000 after acquiring an additional 363 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Anterix by 299.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock valued at $42,000 after acquiring an additional 1,233 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of Anterix in the 1st quarter worth approximately $64,000. Finally, Legal & General Group Plc bought a new stake in shares of Anterix in the 2nd quarter worth approximately $222,000. Institutional investors own 87.67% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ATEX shares. B. Riley Financial cut Anterix from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $44.00 to $69.00 in a research report on Thursday, June 4th. Wall Street Zen downgraded Anterix from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. JPMorgan Chase & Co. cut their price target on Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. Weiss Ratings upgraded shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. Finally, DA Davidson set a $161.00 target price on shares of Anterix in a research report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Anterix currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

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.