Bank of America Corp DE Makes New $13.87 Million Investment in Anterix Inc. $ATEX

Key Points

• Bank of America acquired 134,686 Anterix shares worth approximately $13.87 million during the second quarter, giving it a 0.69% stake. Institutional investors collectively own 87.67% of the company.
• Anterix reported quarterly EPS of $0.01, exceeding the consensus estimate of a $0.43 loss, while revenue of $1.96 million came slightly below expectations.
• Analyst sentiment is mixed but leans positive, with a consensus rating of “Moderate Buy” and a $120 target price. Meanwhile, company insiders sold roughly $10.6 million of stock over the past three months.

Bank of America Corp DE bought a new stake in Anterix Inc. (NASDAQ:ATEX - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 134,686 shares of the company's stock, valued at approximately $13,865,000. Bank of America Corp DE owned 0.69% of Anterix at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Jupiter Topco LLC bought a new stake in shares of Anterix during the 2nd quarter worth approximately $68,189,000. Canada Pension Plan Investment Board acquired a new position in Anterix during the 2nd quarter valued at approximately $381,000. Legal & General Group Plc purchased a new position in shares of Anterix in the second quarter worth $222,000. The Manufacturers Life Insurance Company purchased a new position in shares of Anterix in the second quarter worth $321,000. Finally, Ieq Capital LLC acquired a new stake in shares of Anterix during the second quarter worth $226,000. Institutional investors own 87.67% of the company's stock.

Anterix Stock Up 0.1%

NASDAQ:ATEX opened at $81.42 on Friday. The company has a fifty day simple moving average of $89.98 and a two-hundred day simple moving average of $71.45. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 23.26 and a beta of 0.84. Anterix Inc. has a 52 week low of $17.58 and a 52 week high of $113.00.

Anterix (NASDAQ:ATEX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.44. The business had revenue of $1.96 million for the quarter, compared to analysts' expectations of $2.00 million. Anterix had a negative return on equity of 10.65% and a net margin of 933.03%. On average, analysts expect that Anterix Inc. will post -2 EPS for the current year.

Analyst Upgrades and Downgrades

ATEX has been the topic of several research reports. Weiss Ratings downgraded Anterix from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, September 17th. Clear Str raised Anterix to a "strong-buy" rating in a research report on Monday, July 27th. B. Riley Financial downgraded Anterix from a "buy" rating to a "neutral" rating and boosted their price target for the company from $44.00 to $69.00 in a research note on Thursday, June 4th. Wall Street Zen downgraded Anterix from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Finally, DA Davidson set a $161.00 price objective on shares of Anterix in a research note on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $120.00.

Insider Transactions at Anterix

In other Anterix news, CEO Scott A. Lang sold 15,000 shares of the business's stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $80.00, for a total transaction of $1,200,000.00. Following the transaction, the chief executive officer owned 26,470 shares in the company, valued at approximately $2,117,600. The trade was a 36.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Heather Martin sold 8,064 shares of the firm's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $84.20, for a total transaction of $678,988.80. Following the completion of the sale, the chief marketing officer owned 26,743 shares of the company's stock, valued at $2,251,760.60. This trade represents a 23.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 119,860 shares of company stock valued at $10,575,143 over the last three months. 40.05% of the stock is owned by corporate insiders.

Anterix Company Profile

Anterix Inc NASDAQ: ATEX provides private wireless broadband solutions for critical infrastructure organizations, with a primary focus on electric utilities in the United States. The company's services are designed to support mission-critical communications, grid modernization, operational technology, and other applications that require secure and reliable connectivity.

Anterix owns and manages licensed spectrum in the 900 MHz band and makes that spectrum available through arrangements with utility and infrastructure customers.

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