Anterix Inc. $ATEX Stake Reduced by Kettle Hill Capital Management LLC

Key Points

• Kettle Hill Capital Management LLC drastically cut its stake in Anterix Inc. by 61.6%, reducing its holdings to 29,469 shares worth approximately $1.08 million.
• Multiple institutional investors, including Scoggin Management LP and Nuveen LLC, have made significant investments in Anterix, indicating ongoing interest with 87.67% of the stock owned by institutions.
• Anterix's stock rating was downgraded by Wall Street Zen from "hold" to "sell," despite the overall consensus rating of "Strong Buy" with a target price of $67.00.

Kettle Hill Capital Management LLC cut its stake in Anterix Inc. (NASDAQ:ATEX - Free Report) by 61.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,469 shares of the company's stock after selling 47,240 shares during the period. Kettle Hill Capital Management LLC owned about 0.16% of Anterix worth $1,079,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its position in shares of Anterix by 8.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,029 shares of the company's stock valued at $440,000 after buying an additional 949 shares during the last quarter. Man Group plc grew its stake in Anterix by 15.8% in the 4th quarter. Man Group plc now owns 9,929 shares of the company's stock valued at $305,000 after acquiring an additional 1,358 shares during the period. BNP Paribas Financial Markets acquired a new stake in Anterix during the 4th quarter worth $43,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Anterix by 6.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,071 shares of the company's stock worth $738,000 after purchasing an additional 1,529 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Anterix by 8.8% during the 1st quarter. Swiss National Bank now owns 19,850 shares of the company's stock valued at $727,000 after acquiring an additional 1,600 shares during the last quarter. Hedge funds and other institutional investors own 87.67% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Anterix from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Strong Buy" and a consensus price target of $67.00.

Anterix Trading Down 1.6%

Shares of ATEX stock traded down $0.36 during mid-day trading on Tuesday, reaching $21.69. The stock had a trading volume of 128,555 shares, compared to its average volume of 174,844. The company has a market cap of $406.47 million, a P/E ratio of 13.90 and a beta of 0.91. The business has a 50-day simple moving average of $22.70 and a 200 day simple moving average of $28.61. Anterix Inc. has a 12-month low of $20.61 and a 12-month high of $42.91.

Anterix (NASDAQ:ATEX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.48) EPS for the quarter, topping analysts' consensus estimates of ($0.54) by $0.06. Anterix had a negative return on equity of 23.87% and a net margin of 495.14%.The firm had revenue of $1.42 million during the quarter, compared to analysts' expectations of $1.51 million. Research analysts anticipate that Anterix Inc. will post -1.53 EPS for the current year.

About Anterix

Anterix Inc operates as a wireless communications company. The company focuses on commercializing its spectrum assets to enable the targeted utility and critical infrastructure customers to deploy private broadband networks and innovative broadband solutions. It holds licensed spectrum in the 900 MHz band with coverage throughout the United States, Alaska, Hawaii, and Puerto Rico.