Nuveen LLC Invests $7.20 Million in Anterix Inc. $ATEX

Key Points

• Nuveen LLC has made a significant investment of $7.20 million in Anterix Inc. by acquiring approximately 196,835 shares of the company’s stock during the first quarter.
• Despite this new investment, Wall Street analysts have given Anterix a mixed outlook, with one analyst lowering the rating from a "hold" to a "sell."
• Anterix reported earnings of ($0.48) EPS, beating expectations, but had a net margin of 495.14% and a negative return on equity of 23.87%.

Nuveen LLC bought a new stake in shares of Anterix Inc. (NASDAQ:ATEX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 196,835 shares of the company's stock, valued at approximately $7,204,000. Nuveen LLC owned approximately 1.06% of Anterix at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new position in Anterix during the 4th quarter valued at about $43,000. Aquatic Capital Management LLC purchased a new stake in Anterix during the 4th quarter valued at about $47,000. Russell Investments Group Ltd. grew its stake in Anterix by 156.7% during the 4th quarter. Russell Investments Group Ltd. now owns 1,797 shares of the company's stock valued at $55,000 after purchasing an additional 1,097 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Anterix during the 4th quarter valued at about $81,000. Finally, GAMMA Investing LLC grew its stake in Anterix by 131,650.0% during the 1st quarter. GAMMA Investing LLC now owns 2,635 shares of the company's stock valued at $96,000 after purchasing an additional 2,633 shares during the last quarter. 87.67% of the stock is owned by institutional investors and hedge funds.

Anterix Stock Up 1.8%

Shares of ATEX traded up $0.42 during mid-day trading on Friday, reaching $23.74. The company had a trading volume of 225,720 shares, compared to its average volume of 224,141. Anterix Inc. has a 52-week low of $20.61 and a 52-week high of $42.91. The stock has a market capitalization of $444.89 million, a P/E ratio of 15.22 and a beta of 0.89. The stock has a 50 day moving average of $23.23 and a two-hundred day moving average of $29.46.

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Anterix from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Strong Buy" and a consensus price target of $67.00.

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.