Anterix (NASDAQ:ATEX) CMO Sells 8,064 Shares

Key Points

• Anterix CMO Heather Martin sold 8,064 shares at an average price of $84.20, totaling approximately $679,000. Her direct ownership declined 23.17% to 26,743 shares.
• ATEX shares fell 0.8% to $82.14, while the company’s latest quarterly EPS of $0.01 beat the consensus estimate of a $0.43 loss; revenue of $1.96 million was slightly below expectations.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $120 price target, while institutional investors own 87.67% of the stock.

Anterix Inc. (NASDAQ:ATEX - Get Free Report) CMO Heather Martin sold 8,064 shares of the company's stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $84.20, for a total value of $678,988.80. Following the sale, the chief marketing officer directly owned 26,743 shares in the company, valued at $2,251,760.60. This trade represents a 23.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Anterix Trading Down 0.8%

Shares of ATEX stock traded down $0.65 on Friday, reaching $82.14. The company's stock had a trading volume of 431,279 shares, compared to its average volume of 389,341. The stock's fifty day simple moving average is $95.02 and its 200-day simple moving average is $68.38. Anterix Inc. has a 1 year low of $17.58 and a 1 year high of $113.00. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 23.47 and a beta of 0.84.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. B. Riley Financial lowered Anterix from a "buy" rating to a "neutral" rating and raised their price objective for the company from $44.00 to $69.00 in a research note on Thursday, June 4th. Weiss Ratings raised Anterix from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, June 26th. Wall Street Zen lowered Anterix from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. DA Davidson set a $161.00 price target on Anterix in a research report on Friday, August 21st. 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 equities 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. Based on data from MarketBeat.com, Anterix presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.00.

Institutional Investors Weigh In On Anterix

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE increased its holdings in Anterix by 17.2% during the first quarter. Bank of America Corp DE now owns 167,781 shares of the company's stock valued at $6,408,000 after buying an additional 24,657 shares during the period. GSA Capital Partners LLP lifted its holdings in Anterix by 22.3% during the fourth quarter. GSA Capital Partners LLP now owns 72,976 shares of the company's stock worth $1,593,000 after buying an additional 13,324 shares during the period. Bank of New York Mellon Corp bought a new stake in Anterix during the 2nd quarter valued at $7,141,000. Kirr Marbach & Co. LLC IN increased its holdings in shares of Anterix by 13.3% in the 1st quarter. Kirr Marbach & Co. LLC IN now owns 113,814 shares of the company's stock valued at $4,347,000 after acquiring an additional 13,396 shares during the period. Finally, Waterfront Wealth Inc. increased its holdings in shares of Anterix by 23.3% in the 1st quarter. Waterfront Wealth Inc. now owns 59,955 shares of the company's stock valued at $2,290,000 after acquiring an additional 11,328 shares during the period. 87.67% of the stock is owned by institutional investors.

About Anterix

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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