Anterix Inc. $ATEX Shares Sold by FNY Investment Advisers LLC

Key Points

• FNY Investment Advisers cut its Anterix stake by 96.9% in the second quarter, selling 10,871 shares and retaining just 350 shares valued at approximately $36,000.
• Institutional investors and hedge funds own 87.67% of Anterix, while insiders own 40.05%; company directors recently sold shares, contributing to $10.17 million in insider sales over the past 90 days.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $101.00. ATEX opened at $99.26, compared with a 52-week range of $17.58 to $113.00.

FNY Investment Advisers LLC reduced its holdings in Anterix Inc. (NASDAQ:ATEX - Free Report) by 96.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 350 shares of the company's stock after selling 10,871 shares during the period. FNY Investment Advisers LLC's holdings in Anterix were worth $36,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Jefferies Financial Group Inc. acquired a new stake in Anterix in the 4th quarter valued at about $9,922,000. Millennium Management LLC boosted its holdings in shares of Anterix by 1,153.1% during the 4th 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 last quarter. Gamco Investors INC. ET AL grew its position in shares of Anterix by 0.8% in the first quarter. Gamco Investors INC. ET AL now owns 425,820 shares of the company's stock valued at $16,262,000 after purchasing an additional 3,350 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Anterix by 30.8% in the first quarter. Dimensional Fund Advisors LP now owns 424,856 shares of the company's stock valued at $16,223,000 after purchasing an additional 99,933 shares in the last quarter. Finally, State Street Corp grew its position in shares of Anterix by 5.4% in the fourth quarter. State Street Corp now owns 333,788 shares of the company's stock valued at $7,287,000 after purchasing an additional 17,017 shares in the last quarter. 87.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Anterix

In other news, Director Mahvash Yazdi sold 7,000 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $80.00, for a total transaction of $560,000.00. Following the completion of the transaction, the director directly owned 19,407 shares in the company, valued at approximately $1,552,560. This represents a 26.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mark Fleischhauer sold 3,500 shares of the firm's 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 sale, the director directly owned 12,769 shares of the company's stock, valued at $1,019,349.27. The trade was a 21.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 124,109 shares of company stock valued at $10,174,158 over the last 90 days. Corporate insiders own 40.05% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ATEX. Weiss Ratings upgraded Anterix from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, June 26th. Clear Str upgraded Anterix to a "strong-buy" rating in a report on Monday, July 27th. B. Riley Financial downgraded Anterix from a "buy" rating to a "neutral" rating and raised their target price for the stock from $44.00 to $69.00 in a research note on Thursday, June 4th. Wall Street Zen upgraded Anterix from a "sell" rating to a "hold" rating in a report on Saturday, June 27th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Anterix from $50.00 to $133.00 and gave the company an "overweight" rating in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $101.00.

Anterix Stock Performance

ATEX stock opened at $99.26 on Friday. Anterix Inc. has a one year low of $17.58 and a one year high of $113.00. The firm has a market cap of $1.94 billion, a PE ratio of 20.51 and a beta of 0.85. The firm's 50 day moving average price is $90.09 and its 200-day moving average price is $57.80.

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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