Anterix Inc. $ATEX Shares Purchased by Waterfront Wealth Inc.

Key Points

• Waterfront Wealth Inc. increased its Anterix stake by 23.3% in the first quarter, adding 11,328 shares and bringing its total holding to 59,955 shares worth about $2.29 million.
• Insider selling has been active, with directors Mark Fleischhauer and Mahvash Yazdi recently selling shares; insiders sold 124,109 shares over the last quarter in total.
• Anterix shares have surged, closing at $106.86 versus a 12-month low of $17.58, while analysts currently rate the stock a consensus Hold with an average price target of $59.50.

Waterfront Wealth Inc. raised its holdings in shares of Anterix Inc. (NASDAQ:ATEX - Free Report) by 23.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,955 shares of the company's stock after acquiring an additional 11,328 shares during the period. Waterfront Wealth Inc. owned approximately 0.32% of Anterix worth $2,290,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. acquired a new position in shares of Anterix during the fourth quarter valued at $9,922,000. Millennium Management LLC lifted its holdings in Anterix by 1,153.1% in the fourth quarter. Millennium Management LLC now owns 439,946 shares of the company's stock worth $9,604,000 after purchasing an additional 404,838 shares during the period. Beartown Capital Management LLC bought a new position in Anterix in the 4th quarter valued at about $3,165,000. Gamco Investors INC. ET AL grew its position in Anterix by 32.0% in the 4th quarter. Gamco Investors INC. ET AL now owns 422,470 shares of the company's stock valued at $9,223,000 after buying an additional 102,400 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in Anterix by 51.6% during the 3rd quarter. Marshall Wace LLP now owns 286,581 shares of the company's stock valued at $6,153,000 after buying an additional 97,601 shares during the period. Institutional investors and hedge funds own 87.67% of the company's stock.

Insider Buying and Selling at Anterix

In related news, Director Mark Fleischhauer sold 3,500 shares of Anterix stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $79.83, for a total value of $279,405.00. Following the transaction, the director owned 12,769 shares of the company's stock, valued at approximately $1,019,349.27. This trade represents a 21.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mahvash Yazdi sold 7,000 shares of the business's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $80.00, for a total value of $560,000.00. Following the sale, the director owned 19,407 shares in the company, valued at approximately $1,552,560. The trade was a 26.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 124,109 shares of company stock worth $10,174,158. 40.05% of the stock is owned by insiders.

Anterix Price Performance

NASDAQ ATEX opened at $106.86 on Friday. Anterix Inc. has a 12 month low of $17.58 and a 12 month high of $111.90. The company has a market capitalization of $2.08 billion, a P/E ratio of 22.08 and a beta of 0.83. The company's 50 day simple moving average is $72.60 and its 200 day simple moving average is $46.78.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. B. Riley Financial downgraded shares of Anterix from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $44.00 to $69.00 in a research report on Thursday, June 4th. Wall Street Zen upgraded shares of Anterix from a "sell" rating to a "hold" rating in a research note on Saturday, June 27th. Finally, Weiss Ratings upgraded shares of Anterix from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, June 26th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $59.50.

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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