Anterix (NASDAQ:ATEX) Director Sells 4,100 Shares

Key Points

• Anterix director Leslie Daniels sold 4,100 shares at an average price of $87.07, generating approximately $356,987. Following the transaction, Daniels retained 45,977 shares, an 8.19% reduction in direct ownership.
• Anterix shares recently traded at $85.44, with a market capitalization of about $1.68 billion. The stock has ranged from $17.58 to $113.00 over the past year.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $120.00; institutional investors own approximately 87.67% of the company.

Anterix Inc. (NASDAQ:ATEX - Get Free Report) Director Leslie Daniels sold 4,100 shares of the company's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $87.07, for a total value of $356,987.00. Following the completion of the sale, the director directly owned 45,977 shares of the company's stock, valued at approximately $4,003,217.39. This trade represents a 8.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Anterix Stock Performance

NASDAQ ATEX traded down $0.83 on Tuesday, reaching $85.44. The stock had a trading volume of 229,616 shares, compared to its average volume of 389,373. Anterix Inc. has a 12-month low of $17.58 and a 12-month high of $113.00. The business's 50-day moving average price is $96.30 and its 200 day moving average price is $67.33. The stock has a market cap of $1.68 billion, a P/E ratio of 24.41 and a beta of 0.84.

Anterix (NASDAQ:ATEX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.44. The business had revenue of $1.96 million during 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%. On average, sell-side analysts predict that Anterix Inc. will post -2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Anterix from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, June 26th. DA Davidson set a $161.00 price target on Anterix in a research report on Friday, August 21st. Clear Str raised Anterix to a "strong-buy" rating in a research note on Monday, July 27th. JPMorgan Chase & Co. decreased their price objective on Anterix from $133.00 to $130.00 and set an "overweight" rating for the company in a research report on Thursday, August 13th. Finally, Wall Street Zen downgraded Anterix from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. One equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $120.00.

Institutional Trading of Anterix

Large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Anterix in the 2nd quarter valued at about $110,672,000. Jupiter Topco LLC purchased a new position in shares of Anterix during the 2nd quarter worth approximately $68,189,000. Jefferies Financial Group Inc. acquired a new position in shares of Anterix during the 4th quarter worth approximately $9,922,000. Millennium Management LLC raised its holdings in shares of Anterix by 1,153.1% in the fourth quarter. Millennium Management LLC now owns 439,946 shares of the company's stock worth $9,604,000 after acquiring an additional 404,838 shares during the last quarter. Finally, Panoramic Capital LLC acquired a new stake in shares of Anterix during the 2nd quarter worth about $15,892,000. Institutional investors and hedge funds own 87.67% of the company's stock.

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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