Panoramic Capital LLC Buys Shares of 154,377 Anterix Inc. $ATEX

Key Points

• Panoramic Capital LLC bought 154,377 Anterix shares valued at approximately $15.9 million, making ATEX its second-largest holding and representing about 6.8% of the fund’s portfolio. Institutional investors collectively own 87.67% of Anterix.
• Anterix reported quarterly EPS of $0.01, exceeding analysts’ expected loss of $0.43, while revenue of $1.96 million slightly missed estimates. The stock opened at $94.16, with a market capitalization of about $1.85 billion and a 52-week range of $17.58 to $113.00.
• Insiders sold 182,163 shares worth approximately $15.4 million over the past 90 days. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $120, although some firms recently downgraded or lowered their targets.

Panoramic Capital LLC purchased a new position in Anterix Inc. (NASDAQ:ATEX - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 154,377 shares of the company's stock, valued at approximately $15,892,000. Anterix comprises about 6.8% of Panoramic Capital LLC's holdings, making the stock its 2nd largest holding. Panoramic Capital LLC owned approximately 0.79% of Anterix as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in Anterix by 16.9% in the 1st quarter. AQR Capital Management LLC now owns 11,489 shares of the company's stock worth $420,000 after purchasing an additional 1,659 shares during the last quarter. Millennium Management LLC raised its position in shares of Anterix by 50.6% in the first quarter. Millennium Management LLC now owns 116,473 shares of the company's stock valued at $4,263,000 after purchasing an additional 39,143 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Anterix by 17.7% in the first quarter. Goldman Sachs Group Inc. now owns 124,706 shares of the company's stock valued at $4,564,000 after purchasing an additional 18,771 shares during the period. Legal & General Group Plc lifted its stake in shares of Anterix by 19.7% in the second quarter. Legal & General Group Plc now owns 11,303 shares of the company's stock worth $290,000 after buying an additional 1,857 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Anterix by 70.9% in the second quarter. Rhumbline Advisers now owns 27,998 shares of the company's stock worth $718,000 after buying an additional 11,615 shares during the last quarter. Institutional investors own 87.67% of the company's stock.

Anterix Trading Up 1.9%

ATEX opened at $94.16 on Thursday. The business has a 50 day moving average of $95.10 and a 200-day moving average of $64.01. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 26.90 and a beta of 0.85. Anterix Inc. has a 1-year low of $17.58 and a 1-year high of $113.00.

Anterix (NASDAQ:ATEX - Get Free Report) last announced 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. The business had revenue of $1.96 million for the quarter, compared to analyst estimates of $2.00 million. Anterix had a net margin of 933.03% and a negative return on equity of 10.65%. Equities analysts predict that Anterix Inc. will post -2 EPS for the current year.

Insider Buying and Selling

In other news, Director William Heard sold 46,400 shares of the business's stock in a transaction dated 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 approximately $150,514,157.18. The trade was a 2.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mark Fleischhauer sold 3,500 shares of the company's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $79.83, for a total transaction of $279,405.00. Following the transaction, the director directly owned 12,769 shares of the company's stock, valued at $1,019,349.27. This represents a 21.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 182,163 shares of company stock worth $15,375,289. 40.05% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ATEX shares. JPMorgan Chase & Co. lowered their target price on shares of Anterix from $133.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday, August 13th. Wall Street Zen lowered shares of Anterix from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Weiss Ratings upgraded shares of Anterix from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, June 26th. Clear Str raised Anterix to a "strong-buy" rating in a research report on Monday, July 27th. Finally, B. Riley Financial lowered Anterix from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $44.00 to $69.00 in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $120.00.

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.

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