BlackRock Inc. Buys Shares of 1,075,115 Anterix Inc. $ATEX

Key Points

• BlackRock acquired 1,075,115 shares of Anterix during the second quarter, worth approximately $110.7 million, giving it a 5.51% stake. Institutional investors collectively own 87.67% of the company.
• Analyst views remain generally positive, with Anterix holding a “Moderate Buy” consensus rating and an average price target of $120, despite one recent downgrade to “sell.” JPMorgan lowered its target to $130, while DA Davidson set a $161 target.
• Anterix reported quarterly EPS of $0.01, beating the consensus estimate of a $0.43 loss, although revenue of $1.96 million was slightly below expectations. The stock opened at $92.33 and has traded between $17.58 and $113.00 over the past year.

BlackRock Inc. purchased a new position in shares of Anterix Inc. (NASDAQ:ATEX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,075,115 shares of the company's stock, valued at approximately $110,672,000. BlackRock Inc. owned about 5.51% of Anterix at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wall Street Zen lowered Anterix from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Clear Str raised Anterix to a "strong-buy" rating in a research note on Monday, July 27th. Weiss Ratings upgraded Anterix from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, June 26th. DA Davidson set a $161.00 price objective on shares of Anterix in a research note on Friday, August 21st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Anterix from $133.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $120.00.

Anterix Price Performance

Shares of NASDAQ:ATEX opened at $92.33 on Friday. The business has a 50-day moving average of $95.86 and a two-hundred day moving average of $64.67. The firm has a market capitalization of $1.81 billion, a PE ratio of 26.38 and a beta of 0.85. Anterix Inc. has a 12 month low of $17.58 and a 12 month high of $113.00.

Anterix (NASDAQ:ATEX - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.43) by $0.44. Anterix had a negative return on equity of 10.65% and a net margin of 933.03%.The business had revenue of $1.96 million during the quarter, compared to analysts' expectations of $2.00 million. As a group, research analysts anticipate that Anterix Inc. will post -2 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Christopher Guttman-Mccabe sold 23,439 shares of the firm's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $92.36, for a total value of $2,164,826.04. Following the transaction, the insider owned 44,876 shares of the company's stock, valued at approximately $4,144,747.36. This trade represents a 34.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William Heard sold 46,400 shares of Anterix stock in a transaction on Friday, August 14th. The shares were sold at an average price of $90.11, for a total transaction of $4,181,104.00. Following the transaction, the director owned 1,670,338 shares in the company, valued at $150,514,157.18. The trade was a 2.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 205,602 shares of company stock valued at $17,540,115. 40.05% of the stock is owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source