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

Key Points

• Anterix received a consensus “Moderate Buy” rating from five analysts, with three holds, one buy, and one strong buy. The average 12-month price target is $120, compared with the stock’s reported opening price of $77.42.
• Analyst views were mixed: JPMorgan maintained an overweight rating while lowering its target to $130, B. Riley downgraded the stock to neutral, and Clear Street upgraded it to strong buy.
• Institutional investors own 87.67% of Anterix, including a new $110.7 million BlackRock position. Insiders sold roughly 104,860 shares worth $9.4 million over the past 90 days, primarily to cover tax obligations on vested equity awards.

Anterix Inc. (NASDAQ:ATEX - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the five research firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $120.00.

Several research firms recently weighed in on ATEX. JPMorgan Chase & Co. reduced their target price on shares of Anterix from $133.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday, August 13th. Wall Street Zen downgraded Anterix from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Weiss Ratings upgraded Anterix from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, June 26th. B. Riley Financial cut Anterix from a "buy" rating to a "neutral" rating and upped their price target for the stock from $44.00 to $69.00 in a report on Thursday, June 4th. Finally, Clear Str upgraded shares of Anterix to a "strong-buy" rating in a research note on Monday, July 27th.

Insider Buying and Selling at Anterix

In related news, insider Christopher Guttman-Mccabe sold 23,439 shares of Anterix stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $92.36, for a total transaction of $2,164,826.04. Following the sale, the insider owned 44,876 shares of the company's stock, valued at $4,144,747.36. The trade was a 34.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Chairman Thomas Kuhn sold 10,000 shares of the company's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $88.85, for a total transaction of $888,500.00. Following the completion of the transaction, the chairman directly owned 17,731 shares of the company's stock, valued at approximately $1,575,399.35. The trade was a 36.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 104,860 shares of company stock worth $9,375,143. 40.05% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in Anterix by 17.2% in the first quarter. Bank of America Corp DE now owns 167,781 shares of the company's stock valued at $6,408,000 after acquiring an additional 24,657 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Anterix during the 2nd quarter worth $7,141,000. Wellington Management Group LLP acquired a new position in Anterix during the 2nd quarter worth $3,192,000. BlackRock Inc. acquired a new stake in shares of Anterix in the 2nd quarter valued at about $110,672,000. Finally, Kirr Marbach & Co. LLC IN raised its stake in shares of Anterix by 13.3% in the 1st 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. Hedge funds and other institutional investors own 87.67% of the company's stock.

Anterix Trading Up 1.6%

Shares of Anterix stock opened at $77.42 on Friday. Anterix has a twelve month low of $17.58 and a twelve month high of $113.00. The stock has a market capitalization of $1.52 billion, a P/E ratio of 22.12 and a beta of 0.84. The business's fifty day moving average price is $92.33 and its 200 day moving average price is $69.83.

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

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.

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