Anterix (NASDAQ:ATEX) CFO Sells 4,981 Shares of Company Stock

Key Points

• Anterix CFO Elena Marquez sold 4,981 shares at an average price of $80.43, generating $400,621.83. The Rule 10b5-1 transaction reduced her ownership by 28.33% to 12,604 shares.
• Anterix shares opened at $84.96, with a $1.67 billion market capitalization and a 12-month trading range of $17.58 to $113.00. The company’s latest quarterly EPS of $0.01 exceeded analysts’ expectations, while revenue of $1.96 million was slightly below estimates.
• Institutional investors own 87.67% of the stock, and analysts maintain a “Moderate Buy” consensus rating with an average price target of $120.00, despite mixed individual rating changes.

Anterix Inc. (NASDAQ:ATEX - Get Free Report) CFO Elena Marquez sold 4,981 shares of the business's stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $80.43, for a total transaction of $400,621.83. Following the completion of the sale, the chief financial officer owned 12,604 shares in the company, valued at approximately $1,013,739.72. This trade represents a 28.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Anterix Trading Up 0.5%

Shares of NASDAQ ATEX opened at $84.96 on Tuesday. The firm's 50-day moving average price is $86.79 and its 200-day moving average price is $75.07. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 24.27 and a beta of 0.89. Anterix Inc. has a 12-month low of $17.58 and a 12-month high of $113.00.

Anterix (NASDAQ:ATEX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.43) by $0.44. The firm had revenue of $1.96 million during the quarter, compared to the consensus estimate of $2.00 million. Anterix had a net margin of 933.03% and a negative return on equity of 10.65%. On average, equities analysts predict that Anterix Inc. will post -2.00 EPS for the current fiscal year.

Hedge Funds Weigh In On Anterix

Hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC bought a new position in Anterix in the second quarter worth approximately $35,000. Wellington Management Group LLP purchased a new stake in shares of Anterix in the 2nd quarter worth $3,192,000. Proficio Capital Partners LLC purchased a new stake in shares of Anterix in the 2nd quarter worth $309,000. Panoramic Capital LLC bought a new position in shares of Anterix during the 2nd quarter worth $15,892,000. Finally, Bank of America Corp DE bought a new position in shares of Anterix during the 2nd quarter worth $13,865,000. 87.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on ATEX. JPMorgan Chase & Co. reduced their price objective 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. Weiss Ratings upgraded Anterix from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, October 2nd. Clear Str upgraded Anterix to a "strong-buy" rating in a research report on Monday, July 27th. DA Davidson set a $161.00 price target on Anterix in a report on Friday, August 21st. Finally, Wall Street Zen lowered Anterix from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $120.00.

Anterix Company Profile

Anterix Inc NASDAQ: ATEX develops and enables private wireless broadband networks for critical infrastructure organizations in the United States. The company focuses on using its licensed 900 MHz spectrum to support secure, reliable communications for electric utilities and other organizations that require resilient connectivity for operational technology and field personnel.

Anterix provides spectrum access and related solutions designed to help utilities modernize communications networks, including support for grid management, outage response, remote monitoring, automation and other mission-critical applications.

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