Brokerages Set Anterix Inc. (NASDAQ:ATEX) Target Price at $120.00

Shares of Anterix Inc. (NASDAQ:ATEX) have been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $120.00.

Several analysts have commented on the company. Wall Street Zen lowered Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. DA Davidson set a $161.00 price objective on shares of Anterix in a report on Friday, August 21st. Weiss Ratings lowered shares of Anterix from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, September 17th. 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. Finally, B. Riley Financial lowered shares of Anterix from a “buy” rating to a “neutral” rating and raised their price target for the company from $44.00 to $69.00 in a research note on Thursday, June 4th.

Anterix Trading Up 1.9%

Shares of NASDAQ ATEX opened at $85.24 on Friday. Anterix has a 12-month low of $17.58 and a 12-month high of $113.00. The stock’s fifty day simple moving average is $91.04 and its two-hundred day simple moving average is $70.77. The stock has a market capitalization of $1.67 billion, a PE ratio of 24.35 and a beta of 0.84.

Anterix (NASDAQ:ATEX) last announced its 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 analyst estimates of $2.00 million. On average, equities analysts predict that Anterix will post -2 earnings per share for the current fiscal year.

Insider Buying and Selling at Anterix

In related news, Director William Heard sold 46,400 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $90.11, for a total transaction of $4,181,104.00. Following the completion of the sale, the director directly owned 1,670,338 shares in the company, valued at approximately $150,514,157.18. The trade was a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott A. Lang sold 15,000 shares of the 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 transaction, the chief executive officer directly owned 26,470 shares of the company’s stock, valued at approximately $2,117,600. This represents a 36.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 119,860 shares of company stock valued at $10,575,143. 40.05% of the stock is owned by insiders.

Hedge Funds Weigh In On Anterix

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in Anterix in the 2nd quarter valued at about $110,672,000. Jupiter Topco LLC acquired a new position in Anterix during the second quarter worth $68,189,000. Jefferies Financial Group Inc. purchased a new stake in Anterix in the 4th quarter valued at $9,922,000. Gamco Investors INC. ET AL increased its stake in shares of Anterix by 0.8% in 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 last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Anterix by 30.8% in 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 last quarter. 87.67% of the stock is owned by hedge funds and other institutional investors.

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.