Insider Selling: Anterix (NASDAQ:ATEX) Insider Sells $2,164,826.04 in Stock

Anterix Inc. (NASDAQ:ATEX) insider Christopher Guttman-Mccabe sold 23,439 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $92.36, for a total value of $2,164,826.04. Following the sale, the insider owned 44,876 shares of the company’s stock, valued at approximately $4,144,747.36. The trade was a 34.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Christopher Guttman-Mccabe also recently made the following trade(s):

• On Monday, June 15th, Christopher Guttman-Mccabe sold 91,437 shares of Anterix stock. The shares were sold at an average price of $82.46, for a total value of $7,539,895.02.

Anterix Stock Down 2.5%

Shares of Anterix stock opened at $92.33 on Friday. Anterix Inc. has a 52 week low of $17.58 and a 52 week high of $113.00. The firm’s 50 day moving average is $95.86 and its two-hundred day moving average is $64.67. The firm has a market capitalization of $1.81 billion, a P/E ratio of 26.38 and a beta of 0.85.

Anterix (NASDAQ:ATEX) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.44. The business had revenue of $1.96 million during 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 expect that Anterix Inc. will post -2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Weiss Ratings upgraded Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. Wall Street Zen downgraded Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. DA Davidson set a $161.00 target price on shares of Anterix in a research report on Friday, August 21st. Clear Str upgraded shares of Anterix to a “strong-buy” rating in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. dropped their target price on Anterix from $133.00 to $130.00 and set an “overweight” rating on the stock in a 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 given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $120.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System raised its position in Anterix by 2,570.8% during the second quarter. California State Teachers Retirement System now owns 16,265 shares of the company’s stock worth $1,674,000 after acquiring an additional 15,656 shares during the last quarter. Wellington Management Group LLP acquired a new position in Anterix in the 2nd quarter valued at $3,192,000. Proficio Capital Partners LLC acquired a new position in Anterix in the second quarter valued at $309,000. Panoramic Capital LLC acquired a new position in shares of Anterix during the 2nd quarter valued at about $15,892,000. Finally, Bank of America Corp DE purchased a new position in Anterix during the second quarter worth approximately $13,865,000. 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.