Anterix (NASDAQ:ATEX) CEO Scott Lang Sells 15,000 Shares of Stock

Key Points

• CEO Scott Lang sold 15,000 Anterix shares at an average price of $80, generating $1.2 million and reducing his stake by 36.17% to 26,470 shares.
• Anterix shares rose 1.9% to $85.24 during Tuesday trading, while the company reported quarterly EPS of $0.01, exceeding the consensus estimate of a $0.43 loss.
• Analysts maintain a consensus “Moderate Buy” rating with a $120 target price, although ratings range from “Sell” to “Strong Buy”; institutional investors own 87.67% of the stock.

Anterix Inc. (NASDAQ:ATEX - Get Free Report) CEO Scott Lang sold 15,000 shares of the company's stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $80.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the chief executive officer owned 26,470 shares in the company, valued at approximately $2,117,600. This trade represents a 36.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Anterix Trading Up 1.9%

ATEX stock traded up $1.62 during mid-day trading on Tuesday, hitting $85.24. 266,412 shares of the company were exchanged, compared to its average volume of 388,874. Anterix Inc. has a 1-year low of $17.58 and a 1-year high of $113.00. The stock has a market capitalization of $1.67 billion, a PE ratio of 24.35 and a beta of 0.84. The business has a 50 day simple moving average of $91.45 and a 200-day simple moving average of $70.44.

Anterix (NASDAQ:ATEX - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.43) by $0.44. The company had revenue of $1.96 million for the quarter, compared to the consensus estimate of $2.00 million. Anterix had a negative return on equity of 10.65% and a net margin of 933.03%. Equities research analysts expect that Anterix Inc. will post -2 earnings per share for the current year.

Institutional Trading of Anterix

Several institutional investors and hedge funds have recently modified their holdings of ATEX. Integrated Wealth Concepts LLC bought a new position in shares of Anterix during the 2nd quarter worth approximately $35,000. Parallel Advisors LLC increased its holdings in Anterix by 63.7% during the first quarter. Parallel Advisors LLC now owns 933 shares of the company's stock worth $36,000 after buying an additional 363 shares during the last quarter. Fifth Third Bancorp bought a new stake in Anterix in the first quarter worth about $64,000. Royal Bank of Canada boosted its stake in Anterix by 151.2% in the first quarter. Royal Bank of Canada now owns 3,034 shares of the company's stock valued at $116,000 after acquiring an additional 1,826 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in Anterix in the second quarter valued at about $222,000. 87.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wall Street Zen cut Anterix from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Weiss Ratings cut shares of Anterix from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday. DA Davidson set a $161.00 price target on shares of Anterix in a research note on Friday, August 21st. Clear Str raised shares of Anterix to a "strong-buy" rating in a research report on Monday, July 27th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Anterix from $133.00 to $130.00 and set an "overweight" rating for the company in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $120.00.

About Anterix

Anterix Inc NASDAQ: ATEX provides private wireless broadband solutions for critical infrastructure organizations, with a primary focus on electric utilities in the United States. The company's services are designed to support mission-critical communications, grid modernization, operational technology, and other applications that require secure and reliable connectivity.

Anterix owns and manages licensed spectrum in the 900 MHz band and makes that spectrum available through arrangements with utility and infrastructure customers.

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