Anterix (NASDAQ:ATEX) Issues Quarterly Earnings Results

Anterix (NASDAQ:ATEX) issued its earnings results on Tuesday. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.44, FiscalAI reports. Anterix had a negative return on equity of 11.07% and a net margin of 933.03%.The business had revenue of $1.96 million during the quarter, compared to the consensus estimate of $2.00 million.

Anterix Stock Performance

Anterix stock opened at $88.80 on Thursday. The company’s 50 day simple moving average is $91.59 and its 200-day simple moving average is $59.45. Anterix has a 1 year low of $17.58 and a 1 year high of $113.00. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 25.37 and a beta of 0.85.

Analyst Ratings Changes

Several brokerages have recently weighed in on ATEX. Wall Street Zen raised shares of Anterix from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Clear Str upgraded shares of Anterix to a “strong-buy” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. lifted their target price on shares of Anterix from $50.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. Weiss Ratings upgraded shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. Finally, B. Riley Financial cut 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 note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $101.00.

Insider Transactions at Anterix

In other Anterix news, insider Christopher Guttman-Mccabe sold 91,437 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $82.46, for a total value of $7,539,895.02. Following the sale, the insider owned 77,807 shares of the company’s stock, valued at $6,415,965.22. The trade was a 54.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Elena Marquez sold 4,291 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $79.50, for a total value of $341,134.50. Following the transaction, the chief financial officer owned 18,387 shares of the company’s stock, valued at approximately $1,461,766.50. This represents a 18.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 124,109 shares of company stock worth $10,174,158 in the last three months. Company insiders own 40.05% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ATEX. AQR Capital Management LLC lifted its holdings in Anterix by 16.9% during the 1st quarter. AQR Capital Management LLC now owns 11,489 shares of the company’s stock worth $420,000 after buying an additional 1,659 shares in the last quarter. Millennium Management LLC grew its stake in shares of Anterix by 50.6% in the first quarter. Millennium Management LLC now owns 116,473 shares of the company’s stock worth $4,263,000 after acquiring an additional 39,143 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Anterix by 17.7% in the first quarter. Goldman Sachs Group Inc. now owns 124,706 shares of the company’s stock worth $4,564,000 after acquiring an additional 18,771 shares in the last quarter. Legal & General Group Plc increased its position in shares of Anterix by 19.7% during the second quarter. Legal & General Group Plc now owns 11,303 shares of the company’s stock worth $290,000 after acquiring an additional 1,857 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Anterix by 70.9% in the second quarter. Rhumbline Advisers now owns 27,998 shares of the company’s stock valued at $718,000 after acquiring an additional 11,615 shares in the last quarter. Institutional investors and hedge funds 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.