Anterix Inc. (NASDAQ:ATEX) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Anterix has a “Moderate Buy” consensus rating from five analysts, with three holds, one buy and one strong buy. The average 12-month price target is $120, above the stock’s reported $93.25 opening price.
• The company reported quarterly EPS of $0.01, beating the analyst consensus estimate of a $0.43 loss, while revenue of $1.96 million was slightly below expectations.
• Institutional ownership stands at 87.67%, with BlackRock and Jupiter Topco among investors establishing sizable new positions; insiders sold $14.36 million of stock over the past three months.

Anterix Inc. (NASDAQ:ATEX - Get Free Report) has earned an average rating of "Moderate Buy" from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. Three 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 target price among brokers that have covered the stock in the last year is $120.00.

ATEX has been the topic of several recent research reports. Weiss Ratings upgraded Anterix from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, June 26th. DA Davidson set a $161.00 price objective on Anterix in a report on Friday. Clear Str upgraded shares of Anterix to a "strong-buy" rating in a research report on Monday, July 27th. JPMorgan Chase & Co. cut their target price on shares of Anterix from $133.00 to $130.00 and set an "overweight" rating on the stock in a research report on Thursday, August 13th. Finally, B. Riley Financial lowered shares of Anterix from a "buy" rating to a "neutral" rating and raised their target price for the company from $44.00 to $69.00 in a research note on Thursday, June 4th.

Anterix Price Performance

ATEX stock opened at $93.25 on Monday. The company has a 50 day moving average price of $94.36 and a 200 day moving average price of $62.62. Anterix has a fifty-two week low of $17.58 and a fifty-two week high of $113.00. The stock has a market capitalization of $1.83 billion, a PE ratio of 26.64 and a beta of 0.85.

Anterix (NASDAQ:ATEX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.43) by $0.44. The firm had revenue of $1.96 million for the quarter, compared to analyst estimates of $2.00 million. Anterix had a negative return on equity of 10.65% and a net margin of 933.03%. As a group, equities analysts expect that Anterix will post -2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Anterix news, insider Gena L. Ashe sold 17,711 shares of Anterix stock in a transaction on Monday, June 15th. The shares were sold at an average price of $81.31, for a total transaction of $1,440,081.41. Following the completion of the sale, the insider owned 9,531 shares of the company's stock, valued at approximately $774,965.61. The trade was a 65.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Elena Marquez sold 4,291 shares of the company's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $79.50, for a total transaction of $341,134.50. Following the sale, the chief financial officer owned 18,387 shares of the company's stock, valued at $1,461,766.50. The trade was a 18.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 170,509 shares of company stock valued at $14,355,262 over the last three months. 40.05% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Anterix in the second quarter valued at about $110,672,000. Jupiter Topco LLC acquired a new position in Anterix in the second quarter valued at about $68,189,000. Jefferies Financial Group Inc. bought a new position in Anterix during the fourth quarter worth about $9,922,000. Millennium Management LLC boosted its holdings in Anterix by 1,153.1% during the fourth quarter. Millennium Management LLC now owns 439,946 shares of the company's stock worth $9,604,000 after buying an additional 404,838 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its position in shares of 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 buying an additional 3,350 shares during the period. 87.67% of the stock is currently 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.

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