Roubaix Capital LLC Acquires Shares of 161,706 Anterix Inc. $ATEX

Key Points

• Roubaix Capital LLC made a new investment of approximately $5.92 million in Anterix Inc., acquiring 161,706 shares, which represents about 3.1% of Roubaix's portfolio.
• Other institutional investors, including the Vanguard Group and Nuveen LLC, have also increased their holdings in Anterix, demonstrating growing interest in the company.
• Despite recent investments, Wall Street analysts downgraded Anterix from a "hold" to a "sell" rating, which might reflect concerns about the company's future performance.

Roubaix Capital LLC bought a new position in shares of Anterix Inc. (NASDAQ:ATEX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 161,706 shares of the company's stock, valued at approximately $5,918,000. Anterix comprises 3.1% of Roubaix Capital LLC's portfolio, making the stock its 5th biggest holding. Roubaix Capital LLC owned approximately 0.87% of Anterix as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nuveen LLC purchased a new position in Anterix during the first quarter worth approximately $7,204,000. Garnet Equity Capital Holdings Inc. raised its stake in Anterix by 33.3% during the fourth quarter. Garnet Equity Capital Holdings Inc. now owns 388,829 shares of the company's stock worth $11,925,000 after purchasing an additional 97,127 shares during the period. Kettle Hill Capital Management LLC purchased a new position in Anterix during the fourth quarter worth approximately $2,353,000. Nuveen Asset Management LLC raised its stake in Anterix by 26.4% during the fourth quarter. Nuveen Asset Management LLC now owns 185,573 shares of the company's stock worth $5,692,000 after purchasing an additional 38,770 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Anterix by 91.2% during the fourth quarter. JPMorgan Chase & Co. now owns 64,692 shares of the company's stock worth $1,984,000 after purchasing an additional 30,860 shares during the period. Institutional investors and hedge funds own 87.67% of the company's stock.

Anterix Price Performance

ATEX stock traded up $0.2650 during midday trading on Friday, reaching $22.3050. 110,469 shares of the company's stock traded hands, compared to its average volume of 170,882. The company has a market capitalization of $418.00 million, a P/E ratio of 14.30 and a beta of 0.89. Anterix Inc. has a fifty-two week low of $20.61 and a fifty-two week high of $42.91. The business has a 50-day moving average price of $23.77 and a two-hundred day moving average price of $29.79.

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded 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. According to data from MarketBeat.com, Anterix has a consensus rating of "Strong Buy" and a consensus target price of $67.00.

About Anterix

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.