Harber Asset Management LLC Invests $1.30 Million in Anterix Inc. $ATEX

Key Points

• Harber Asset Management LLC invested $1.30 million in Anterix Inc. by acquiring 35,608 shares in the first quarter, which accounts for approximately 0.19% of the company's stock.
• Despite this investment, Wall Street Zen recently downgraded Anterix shares from a "hold" to a "sell" rating, while other analysts still maintain a consensus target price of $67.00.
• Anterix reported a quarterly loss of ($0.48) earnings per share, exceeding analysts' expectations of ($0.54) and generating revenue of $1.42 million, which was slightly below projections.

Harber Asset Management LLC purchased a new position in Anterix Inc. (NASDAQ:ATEX - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 35,608 shares of the company's stock, valued at approximately $1,303,000. Harber Asset Management LLC owned about 0.19% of Anterix at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Anterix by 1.5% in the first quarter. Vanguard Group Inc. now owns 1,050,022 shares of the company's stock valued at $38,431,000 after acquiring an additional 15,043 shares during the period. Gamco Investors INC. ET AL increased its stake in Anterix by 36.6% in the first quarter. Gamco Investors INC. ET AL now owns 202,570 shares of the company's stock valued at $7,414,000 after acquiring an additional 54,300 shares during the period. Nuveen LLC bought a new stake in Anterix in the first quarter valued at about $7,204,000. Nuveen Asset Management LLC increased its stake in Anterix by 26.4% in the fourth quarter. Nuveen Asset Management LLC now owns 185,573 shares of the company's stock valued at $5,692,000 after acquiring an additional 38,770 shares during the period. Finally, Roubaix Capital LLC bought a new stake in Anterix in the first quarter valued at about $5,918,000. 87.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Anterix from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Strong Buy" and an average price target of $67.00.

Anterix Price Performance

NASDAQ:ATEX traded down $1.07 on Tuesday, reaching $22.67. The stock had a trading volume of 240,130 shares, compared to its average volume of 220,252. Anterix Inc. has a 1-year low of $20.61 and a 1-year high of $42.91. The stock has a fifty day moving average price of $23.01 and a 200-day moving average price of $29.21.

Anterix (NASDAQ:ATEX - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.48) EPS for the quarter, beating analysts' consensus estimates of ($0.54) by $0.06. The firm had revenue of $1.42 million for the quarter, compared to analyst estimates of $1.51 million. Anterix had a net margin of 495.14% and a negative return on equity of 23.87%. On average, equities analysts anticipate that Anterix Inc. will post -1.53 EPS for the current fiscal year.

Anterix Company Profile

Anterix Inc operates as a wireless communications company. The company focuses on commercializing its spectrum assets to enable the targeted utility and critical infrastructure customers to deploy private broadband networks and innovative broadband solutions. It holds licensed spectrum in the 900 MHz band with coverage throughout the United States, Alaska, Hawaii, and Puerto Rico.