Anterix Inc. (NASDAQ:ATEX) Stock Has Average Target Price of $120.00 According to Brokerages

Key Points

• Anterix has a “Moderate Buy” consensus from five analysts, with an average 12-month price target of $120 versus the stock’s reported price of $84.96.
• Insiders sold 119,860 shares worth approximately $10.6 million over the past three months, while institutional investors and hedge funds own 87.67% of the company.
• Anterix reported quarterly EPS of $0.01, exceeding the consensus estimate of a $0.43 loss, though revenue of $1.96 million was slightly below expectations.

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

ATEX has been the topic of a number of analyst reports. DA Davidson set a $161.00 target price on Anterix in a research report on Friday, August 21st. Wall Street Zen lowered Anterix from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Clear Str raised Anterix to a "strong-buy" rating in a report on Monday, July 27th. JPMorgan Chase & Co. reduced their price target on Anterix from $133.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, August 13th. Finally, Weiss Ratings upgraded Anterix from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, October 2nd.

Insiders Place Their Bets

In other news, insider Gena Ashe sold 4,357 shares of the company's stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $85.44, for a total transaction of $372,262.08. Following the completion of the transaction, the insider directly owned 5,174 shares of the company's stock, valued at $442,066.56. This represents a 45.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Christopher Guttman-Mccabe sold 23,439 shares of the company's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $92.36, for a total value of $2,164,826.04. Following the transaction, the insider directly owned 44,876 shares of the company's stock, valued at approximately $4,144,747.36. The trade was a 34.31% 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. Over the last three months, insiders 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

A number of large investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC purchased a new position in Anterix during the second quarter valued at $35,000. Wellington Management Group LLP acquired a new stake in shares of Anterix in the second quarter valued at about $3,192,000. Proficio Capital Partners LLC purchased a new stake in shares of Anterix during the second quarter worth about $309,000. Panoramic Capital LLC purchased a new stake in shares of Anterix during the second quarter worth about $15,892,000. Finally, Bank of America Corp DE purchased a new stake in shares of Anterix during the second quarter worth about $13,865,000. 87.67% of the stock is currently owned by institutional investors and hedge funds.

Anterix Stock Performance

Shares of NASDAQ ATEX opened at $84.96 on Tuesday. The company's fifty day moving average price is $86.79 and its 200 day moving average price is $75.07. Anterix has a 1 year low of $17.58 and a 1 year high of $113.00. The company has a market capitalization of $1.67 billion, a PE ratio of 24.27 and a beta of 0.89.

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

Anterix Company Profile

Anterix Inc NASDAQ: ATEX develops and enables private wireless broadband networks for critical infrastructure organizations in the United States. The company focuses on using its licensed 900 MHz spectrum to support secure, reliable communications for electric utilities and other organizations that require resilient connectivity for operational technology and field personnel.

Anterix provides spectrum access and related solutions designed to help utilities modernize communications networks, including support for grid management, outage response, remote monitoring, automation and other mission-critical applications.

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