Anterix Inc. $ATEX Shares Sold by Strs Ohio

Key Points

• Strs Ohio reduced its stake in Anterix by 40.8% in the first quarter, selling 10,800 shares and leaving it with 15,700 shares valued at about $600,000.
• Insiders also sold shares recently, including Gena L. Ashe and CFO Elena Marquez, with insiders selling 124,109 shares worth more than $10.1 million over the last 90 days.
• Anterix stock has surged sharply, recently trading at $106.86 versus a 52-week low of $17.58, while analysts currently rate the stock a consensus Hold with an average target price of $59.50.

Strs Ohio lowered its holdings in shares of Anterix Inc. (NASDAQ:ATEX - Free Report) by 40.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,700 shares of the company's stock after selling 10,800 shares during the period. Strs Ohio owned approximately 0.08% of Anterix worth $600,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ATEX. Jefferies Financial Group Inc. bought a new position in Anterix in the 4th quarter valued at about $9,922,000. Millennium Management LLC lifted its stake in shares of Anterix by 1,153.1% in the 4th quarter. Millennium Management LLC now owns 439,946 shares of the company's stock worth $9,604,000 after acquiring an additional 404,838 shares during the period. Gamco Investors INC. ET AL lifted its stake in shares of Anterix by 32.0% in the 4th quarter. Gamco Investors INC. ET AL now owns 422,470 shares of the company's stock worth $9,223,000 after acquiring an additional 102,400 shares during the period. State Street Corp boosted its holdings 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 acquiring an additional 17,017 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Anterix by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 324,923 shares of the company's stock valued at $7,093,000 after acquiring an additional 13,633 shares in the last quarter. Institutional investors own 87.67% of the company's stock.

Insiders Place Their Bets

In other news, insider Gena L. Ashe sold 17,711 shares of the company's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $81.31, for a total transaction of $1,440,081.41. Following the completion of the sale, the insider directly owned 9,531 shares of the company's stock, valued at $774,965.61. This represents a 65.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Elena Marquez sold 4,291 shares of Anterix stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $79.50, for a total value of $341,134.50. Following the completion of the transaction, the chief financial officer directly owned 18,387 shares in the company, valued at $1,461,766.50. This represents a 18.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 124,109 shares of company stock worth $10,174,158. Corporate insiders own 40.05% of the company's stock.

Anterix Stock Performance

Shares of NASDAQ:ATEX opened at $106.86 on Friday. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 22.08 and a beta of 0.83. Anterix Inc. has a 1-year low of $17.58 and a 1-year high of $111.90. The company has a 50 day moving average price of $72.60 and a 200 day moving average price of $46.78.

Analyst Ratings Changes

A number of research firms have weighed in on ATEX. B. Riley Financial downgraded Anterix from a "buy" rating to a "neutral" rating and upped their target price for the stock from $44.00 to $69.00 in a research report on Thursday, June 4th. Wall Street Zen upgraded Anterix from a "sell" rating to a "hold" rating in a research report on Saturday, June 27th. Finally, Weiss Ratings raised 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $59.50.

Anterix 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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