Proficio Capital Partners LLC Sells 17,000 Shares of Anterix Inc. $ATEX

Key Points

• Proficio Capital Partners cut its Anterix stake by 85% in the second quarter, selling 17,000 shares and retaining 3,000 shares valued at approximately $309,000. Institutional investors collectively own 87.67% of ATEX.
• Anterix reported quarterly EPS of $0.01, beating the consensus estimate of a $0.43 loss, while revenue of $1.96 million came in slightly below estimates. The stock opened at $86.27, with a market capitalization of about $1.69 billion.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and a $120 price target. Meanwhile, insiders sold more than 205,000 shares worth approximately $17.5 million over the past three months.

Proficio Capital Partners LLC lessened its stake in Anterix Inc. (NASDAQ:ATEX - Free Report) by 85.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,000 shares of the company's stock after selling 17,000 shares during the period. Proficio Capital Partners LLC's holdings in Anterix were worth $309,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ATEX. Parallel Advisors LLC lifted its holdings in shares of Anterix by 63.7% during the 1st quarter. Parallel Advisors LLC now owns 933 shares of the company's stock worth $36,000 after acquiring an additional 363 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Anterix by 299.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company's stock valued at $42,000 after acquiring an additional 1,233 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Anterix during the third quarter valued at about $57,000. BNP Paribas Financial Markets raised its position in Anterix by 119.3% during the second quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company's stock valued at $62,000 after purchasing an additional 1,308 shares in the last quarter. Finally, Fifth Third Bancorp bought a new stake in Anterix during the first quarter worth about $64,000. Institutional investors own 87.67% of the company's stock.

Anterix Trading Down 1.0%

NASDAQ ATEX opened at $86.27 on Friday. Anterix Inc. has a 1-year low of $17.58 and a 1-year high of $113.00. The stock has a 50-day moving average of $96.54 and a 200-day moving average of $66.72. The firm has a market cap of $1.69 billion, a PE ratio of 24.65 and a beta of 0.84.

Anterix (NASDAQ:ATEX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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 negative return on equity of 10.65% and a net margin of 933.03%. As a group, equities research analysts forecast that Anterix Inc. will post -2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Transactions at Anterix

In related news, 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 value of $4,181,104.00. Following the transaction, the director directly owned 1,670,338 shares of the company's stock, valued at $150,514,157.18. The trade was a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Thomas Kuhn sold 10,000 shares of the company's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $88.85, for a total transaction of $888,500.00. Following the sale, the chairman owned 17,731 shares of the company's stock, valued at $1,575,399.35. This represents a 36.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 205,602 shares of company stock valued at $17,540,115. 40.05% of the stock is currently owned by 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.

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