Anterix Inc. (ATEX) – What Are Investment Firms Saying About This Stock?

Anterix Inc. (NASDAQ:ATEX) has received a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $120.00.

Several research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Anterix from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings raised shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 2nd. Clear Str upgraded shares of Anterix to a “strong-buy” rating in a research report on Monday, July 27th. DA Davidson set a $161.00 price objective on shares of Anterix in a research report on Friday, August 21st. Finally, JPMorgan Chase & Co. dropped 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.

Anterix Stock Performance

Anterix stock opened at $80.48 on Tuesday. The firm has a market cap of $1.58 billion, a P/E ratio of 22.99 and a beta of 0.89. The business’s fifty day moving average is $85.34 and its two-hundred day moving average is $76.05. Anterix has a 52 week low of $17.58 and a 52 week 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. 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 analysts’ expectations of $2.00 million. On average, equities research analysts predict that Anterix will post -2.00 earnings per share for the current year.

Insider Activity

In other news, Chairman Thomas R. Kuhn sold 10,000 shares of Anterix stock in a transaction on Monday, August 24th. The stock was sold at an average price of $88.85, for a total value of $888,500.00. Following the completion of the sale, the chairman directly owned 17,731 shares of the company’s stock, valued at approximately $1,575,399.35. This trade represents a 36.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Scott A. Lang sold 15,000 shares of Anterix stock in a transaction on Monday, September 21st. The shares were sold at an average price of $80.00, for a total value of $1,200,000.00. Following the completion of the sale, the chief executive officer directly owned 26,470 shares of the company’s stock, valued at $2,117,600. This trade represents a 36.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 124,841 shares of company stock worth $10,975,765. 40.05% of the stock is owned by company insiders.

Hedge Funds Weigh In On Anterix

Several large investors have recently made changes to their positions in ATEX. BlackRock Inc. acquired a new position in Anterix in the second quarter valued at approximately $110,672,000. Jupiter Topco LLC bought a new position in Anterix in the second quarter valued at approximately $68,189,000. Gamco Investors INC. ET AL grew its holdings in Anterix by 0.8% during the 1st quarter. Gamco Investors INC. ET AL now owns 425,820 shares of the company’s stock worth $16,262,000 after acquiring an additional 3,350 shares during the period. Dimensional Fund Advisors LP grew its holdings in Anterix by 30.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 424,856 shares of the company’s stock worth $16,223,000 after acquiring an additional 99,933 shares during the period. Finally, AYAL Capital Advisors Ltd grew its holdings in Anterix by 26.8% during the 4th quarter. AYAL Capital Advisors Ltd now owns 265,000 shares of the company’s stock worth $5,785,000 after acquiring an additional 56,029 shares during the period. Institutional investors and hedge funds own 87.67% of the company’s stock.

Anterix Company Profile

Anterix Inc (NASDAQ: ATEX) develops and enables private wireless broadband networks for critical infrastructure organizations in the United States. The company focuses on using its licensed 900 MHz spectrum to support secure, reliable communications for electric utilities and other organizations that require resilient connectivity for operational technology and field personnel.

Anterix provides spectrum access and related solutions designed to help utilities modernize communications networks, including support for grid management, outage response, remote monitoring, automation and other mission-critical applications.