Deutsche Bank AG Invests $1.61 Million in Anterix Inc. $ATEX

Key Points

• Deutsche Bank initiated a $1.61 million position in Anterix during the second quarter, buying 15,643 shares. Institutional investors collectively own 87.67% of the company.
• Anterix insiders sold 205,602 shares worth approximately $17.54 million over the past 90 days, including significant sales by an insider and the chairman.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $120. Anterix recently exceeded quarterly EPS expectations, reporting $0.01 versus the consensus estimate of a $0.43 loss.

Deutsche Bank AG bought a new position in shares of Anterix Inc. (NASDAQ:ATEX - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 15,643 shares of the company's stock, valued at approximately $1,610,000. Deutsche Bank AG owned 0.08% of Anterix as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new position in Anterix during the 2nd quarter worth approximately $7,141,000. Parallel Advisors LLC lifted its stake in Anterix by 63.7% during the 1st quarter. Parallel Advisors LLC now owns 933 shares of the company's stock valued at $36,000 after acquiring an additional 363 shares during the period. Bank of America Corp DE boosted its holdings in shares of Anterix by 17.2% in the 1st quarter. Bank of America Corp DE now owns 167,781 shares of the company's stock valued at $6,408,000 after acquiring an additional 24,657 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Anterix by 151.2% in the 1st quarter. Royal Bank of Canada now owns 3,034 shares of the company's stock valued at $116,000 after acquiring an additional 1,826 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in shares of Anterix by 64.6% in the first quarter. Quantinno Capital Management LP now owns 15,619 shares of the company's stock worth $596,000 after acquiring an additional 6,132 shares during the period. Hedge funds and other institutional investors own 87.67% of the company's stock.

Insider Buying and Selling

In related news, insider Christopher Guttman-Mccabe sold 91,437 shares of the company's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $82.46, for a total value of $7,539,895.02. Following the completion of the transaction, the insider owned 77,807 shares of the company's stock, valued at approximately $6,415,965.22. This represents a 54.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Thomas R. Kuhn sold 10,000 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $88.85, for a total value of $888,500.00. Following the transaction, the chairman owned 17,731 shares in the company, valued at $1,575,399.35. This represents a 36.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 205,602 shares of company stock worth $17,540,115 in the last ninety days. 40.05% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on ATEX. B. Riley Financial downgraded shares of Anterix from a "buy" rating to a "neutral" rating and boosted their target price for the company from $44.00 to $69.00 in a research report on Thursday, June 4th. Clear Str raised Anterix to a "strong-buy" rating in a research report on Monday, July 27th. DA Davidson set a $161.00 price objective on Anterix in a research note on Friday, August 21st. Weiss Ratings raised Anterix from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, June 26th. Finally, JPMorgan Chase & Co. lowered their target price on Anterix from $133.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $120.00.

Anterix Stock Performance

ATEX stock opened at $92.33 on Friday. Anterix Inc. has a one year low of $17.58 and a one year high of $113.00. The firm's fifty day moving average is $95.86 and its 200 day moving average is $64.67. The firm has a market cap of $1.81 billion, a PE ratio of 26.38 and a beta of 0.85.

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

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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