Scoggin Management LP Takes Position in Anterix Inc. $ATEX

Key Points

• Scoggin Management LP has invested approximately $10.98 million in Anterix Inc. by purchasing 300,000 shares, representing 3.1% of their investment portfolio and making it their 9th largest position.
• Institutional investors hold 87.67% of Anterix's stock, with several firms, including Gamco Investors and Gabelli Funds, increasing their stakes in recent months.
• Despite reporting an EPS of ($0.48), which was better than estimates, Anterix received a downgrade from "hold" to "sell" by Wall Street analysts, with an average target price of $67.00.

Scoggin Management LP bought a new position in Anterix Inc. (NASDAQ:ATEX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 300,000 shares of the company's stock, valued at approximately $10,980,000. Anterix comprises approximately 3.1% of Scoggin Management LP's portfolio, making the stock its 9th largest position. Scoggin Management LP owned approximately 1.61% of Anterix as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new stake in Anterix during the fourth quarter worth approximately $43,000. Aquatic Capital Management LLC purchased a new stake in Anterix during the fourth quarter worth approximately $47,000. Point72 Asset Management L.P. purchased a new stake in Anterix during the fourth quarter worth approximately $81,000. GAMMA Investing LLC grew its stake in Anterix by 131,650.0% during the first quarter. GAMMA Investing LLC now owns 2,635 shares of the company's stock worth $96,000 after buying an additional 2,633 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new stake in Anterix during the first quarter worth approximately $128,000. 87.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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 analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat.com, Anterix presently has a consensus rating of "Strong Buy" and a consensus price target of $67.00.

Anterix Trading Down 1.3%

ATEX traded down $0.30 during trading on Friday, hitting $21.97. 167,219 shares of the company's stock were exchanged, compared to its average volume of 222,417. The firm has a market cap of $411.72 million, a P/E ratio of 14.08 and a beta of 0.91. The stock has a 50 day moving average price of $22.77 and a 200 day moving average price of $28.90. Anterix Inc. has a 1 year low of $20.61 and a 1 year high of $42.91.

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

Anterix 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.