Anterix (NASDAQ:ATEX) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Anterix from “hold” to “sell,” contrasting with MarketBeat’s overall “Moderate Buy” consensus and $99.50 average price target.
• Anterix reported quarterly EPS of $0.01, beating expectations for a $0.43 loss, while revenue of $1.96 million narrowly missed the $2.00 million consensus estimate.
• Insiders sold 124,109 shares worth approximately $10.2 million over the last quarter, while institutional investors own 87.67% of the company.

Anterix (NASDAQ:ATEX - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

ATEX has been the topic of several other research reports. Clear Str upgraded Anterix to a "strong-buy" rating in a report on Monday, July 27th. B. Riley Financial cut shares of Anterix from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $44.00 to $69.00 in a research note on Thursday, June 4th. Weiss Ratings raised shares of Anterix from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, June 26th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Anterix from $133.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Anterix presently has an average rating of "Moderate Buy" and a consensus price target of $99.50.

Anterix Stock Performance

ATEX opened at $91.53 on Friday. The company has a market cap of $1.79 billion, a PE ratio of 26.15 and a beta of 0.85. The stock has a 50-day moving average of $92.56 and a 200-day moving average of $60.15. Anterix has a 52-week low of $17.58 and a 52-week high of $113.00.

Anterix (NASDAQ:ATEX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.43) by $0.44. Anterix had a negative return on equity of 10.65% and a net margin of 933.03%.The business had revenue of $1.96 million for the quarter, compared to the consensus estimate of $2.00 million. On average, research analysts predict that Anterix will post -2.07 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Gena L. Ashe sold 17,711 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $81.31, for a total transaction of $1,440,081.41. Following the completion of the transaction, the insider directly owned 9,531 shares in the company, valued at $774,965.61. The trade was a 65.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $79.83, for a total value of $279,405.00. Following the completion of the sale, the director directly owned 12,769 shares of the company's stock, valued at $1,019,349.27. This represents a 21.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 124,109 shares of company stock worth $10,174,158. 40.05% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ATEX. GSA Capital Partners LLP grew its holdings in shares of Anterix by 22.3% during the 4th quarter. GSA Capital Partners LLP now owns 72,976 shares of the company's stock worth $1,593,000 after purchasing an additional 13,324 shares in the last quarter. Waterfront Wealth Inc. acquired a new position in shares of Anterix in the fourth quarter valued at $1,150,000. Kirr Marbach & Co. LLC IN raised its stake in shares of Anterix by 13.3% in the first quarter. Kirr Marbach & Co. LLC IN now owns 113,814 shares of the company's stock valued at $4,347,000 after purchasing an additional 13,396 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Anterix by 30.8% in the first quarter. Dimensional Fund Advisors LP now owns 424,856 shares of the company's stock worth $16,223,000 after purchasing an additional 99,933 shares during the period. Finally, Inspire Investing LLC bought a new position in Anterix in the first quarter worth $508,000. Institutional investors 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.

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