Anterix Inc. (NASDAQ:ATEX) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Anterix has a consensus “Moderate Buy” rating from five analysts, with three holds, one buy and one strong buy. The average 12-month price target is $101, implying potential upside from the reported $88.20 share price.
• Recent analyst actions were mixed: JPMorgan raised its price target to $133 and assigned an overweight rating, while B. Riley downgraded the stock to neutral despite increasing its target to $69.
• Insiders sold about $10.2 million worth of shares over the past 90 days, although insiders still own 40.05% of the company; institutional investors hold 87.67% of outstanding shares.

Shares of Anterix Inc. (NASDAQ:ATEX - Get Free Report) have received a consensus rating of "Moderate Buy" from the five analysts that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $101.00.

ATEX has been the subject of several analyst reports. Wall Street Zen upgraded Anterix from a "sell" rating to a "hold" rating in a report on Saturday, June 27th. Clear Str raised shares of Anterix to a "strong-buy" rating in a research report on Monday. JPMorgan Chase & Co. boosted their price objective 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. B. Riley Financial downgraded shares of Anterix from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $44.00 to $69.00 in a report on Thursday, June 4th. Finally, Weiss Ratings upgraded shares of Anterix from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, June 26th.

Anterix Stock Performance

ATEX opened at $88.20 on Thursday. The company has a market cap of $1.72 billion, a PE ratio of 18.22 and a beta of 0.83. The stock has a 50-day moving average of $85.20 and a 200-day moving average of $54.37. Anterix has a 52-week low of $17.58 and a 52-week high of $113.00.

Insider Activity

In other news, insider Gena L. Ashe sold 17,711 shares of Anterix stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $81.31, for a total value of $1,440,081.41. Following the transaction, the insider directly owned 9,531 shares in the company, valued at approximately $774,965.61. The trade was a 65.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mark Fleischhauer sold 3,500 shares of Anterix stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $79.83, for a total value of $279,405.00. Following the completion of the transaction, the director owned 12,769 shares in the company, valued at $1,019,349.27. The trade was a 21.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 124,109 shares of company stock worth $10,174,158. Insiders own 40.05% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its holdings in shares of Anterix by 63.7% during the first quarter. Parallel Advisors LLC now owns 933 shares of the company's stock worth $36,000 after buying an additional 363 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Anterix by 299.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company's stock valued at $42,000 after acquiring an additional 1,233 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Anterix in the third quarter worth $57,000. BNP Paribas Financial Markets grew its stake in shares of Anterix by 119.3% in the second quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company's stock worth $62,000 after acquiring an additional 1,308 shares during the last quarter. Finally, Fifth Third Bancorp bought a new position in Anterix during the first quarter worth $64,000. 87.67% of the stock is owned by institutional investors.

About Anterix

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.