Anterix (NASDAQ:ATEX) Director Sells $522,900.00 in Stock

Key Points

• Anterix director Leslie Daniels sold 6,000 shares at an average price of $87.15, generating $522,900. Following the sale, Daniels owned 50,077 shares, a 10.70% reduction in direct ownership.
• Anterix shares fell 1.0% to $85.44, while the company reported quarterly EPS of $0.01, beating estimates for a $0.43 loss. Revenue was $1.96 million, slightly below the $2.00 million analyst forecast.
• Analyst sentiment remains mixed but leans positive, with a consensus rating of “Moderate Buy” and a $120 price target. Institutional investors own approximately 87.67% of the company.

Anterix Inc. (NASDAQ:ATEX - Get Free Report) Director Leslie Daniels sold 6,000 shares of Anterix stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $87.15, for a total transaction of $522,900.00. Following the completion of the transaction, the director directly owned 50,077 shares of the company's stock, valued at $4,364,210.55. This trade represents a 10.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Anterix Stock Down 1.0%

Shares of NASDAQ:ATEX traded down $0.83 during trading on Tuesday, hitting $85.44. 229,616 shares of the company traded hands, compared to its average volume of 389,373. The business's fifty day moving average is $96.30 and its 200-day moving average is $67.33. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 24.41 and a beta of 0.84. Anterix Inc. has a one year low of $17.58 and a one year high of $113.00.

Anterix (NASDAQ:ATEX - Get Free Report) last released its quarterly earnings data 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 negative return on equity of 10.65% and a net margin of 933.03%.The business had revenue of $1.96 million during the quarter, compared to analyst estimates of $2.00 million. On average, analysts forecast that Anterix Inc. will post -2 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ATEX shares. Wall Street Zen cut shares of Anterix from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Clear Str raised shares of Anterix to a "strong-buy" rating in a research note on Monday, July 27th. DA Davidson set a $161.00 target price on shares of Anterix in a report on Friday, August 21st. B. Riley Financial lowered shares of Anterix from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $44.00 to $69.00 in a research report on Thursday, June 4th. Finally, Weiss Ratings raised Anterix from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Anterix has an average rating of "Moderate Buy" and a consensus price target of $120.00.

Hedge Funds Weigh In On Anterix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in Anterix by 17.2% during the 1st quarter. Bank of America Corp DE now owns 167,781 shares of the company's stock valued at $6,408,000 after purchasing an additional 24,657 shares during the period. GSA Capital Partners LLP grew its holdings in shares of Anterix by 22.3% during the fourth quarter. GSA Capital Partners LLP now owns 72,976 shares of the company's stock valued at $1,593,000 after buying an additional 13,324 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Anterix during the second quarter valued at $7,141,000. Kirr Marbach & Co. LLC IN raised its position in Anterix by 13.3% during the first quarter. Kirr Marbach & Co. LLC IN now owns 113,814 shares of the company's stock valued at $4,347,000 after buying an additional 13,396 shares during the period. Finally, Waterfront Wealth Inc. raised its position in Anterix by 23.3% during the first quarter. Waterfront Wealth Inc. now owns 59,955 shares of the company's stock valued at $2,290,000 after buying an additional 11,328 shares during the period. 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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