Insider Selling: Anterix (NASDAQ:ATEX) CEO Sells $1,200,000.00 in Stock

Anterix Inc. (NASDAQ:ATEX) CEO Scott Lang sold 15,000 shares of the firm’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $80.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the chief executive officer owned 26,470 shares in the company, valued at $2,117,600. The trade was a 36.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Anterix Price Performance

Anterix stock opened at $81.33 on Friday. Anterix Inc. has a fifty-two week low of $17.58 and a fifty-two week high of $113.00. The firm has a fifty day moving average price of $90.36 and a two-hundred day moving average price of $71.38. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 23.24 and a beta of 0.84.

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

Hedge Funds Weigh In On Anterix

Large investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new stake in shares of Anterix during the 2nd quarter worth approximately $35,000. Parallel Advisors LLC raised its stake in shares of 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 in the last quarter. Fifth Third Bancorp acquired a new position in shares of Anterix in the first quarter valued at $64,000. Legal & General Group Plc bought a new position in Anterix in the second quarter worth $222,000. Finally, Ieq Capital LLC bought a new position in Anterix in the second quarter worth $226,000. Institutional investors and hedge funds own 87.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ATEX shares. Weiss Ratings cut Anterix from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, September 17th. DA Davidson set a $161.00 target price on shares of Anterix in a research report on Friday, August 21st. JPMorgan Chase & Co. cut their target price on shares of Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Wall Street Zen downgraded shares of Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Clear Str upgraded shares of Anterix to a “strong-buy” rating in a research report on Monday, July 27th. One 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. According to MarketBeat.com, Anterix presently has an average rating of “Moderate Buy” and an average target price of $120.00.

Anterix Company Profile

Anterix Inc (NASDAQ: ATEX) provides private wireless broadband solutions for critical infrastructure organizations, with a primary focus on electric utilities in the United States. The company’s services are designed to support mission-critical communications, grid modernization, operational technology, and other applications that require secure and reliable connectivity.

Anterix owns and manages licensed spectrum in the 900 MHz band and makes that spectrum available through arrangements with utility and infrastructure customers.