Anterix (NASDAQ:ATEX) Insider Sells $372,262.08 in Stock

Key Points

• Anterix insider Gena Ashe sold 4,357 shares for $372,262 at an average price of $85.44, reducing her direct ownership by 45.71% to 5,174 shares.
• Anterix shares fell 1.0% to $85.44, while the company reported quarterly EPS of $0.01—$0.44 above analyst expectations—on revenue of $1.96 million.
• Analyst sentiment remains a “Moderate Buy,” with an average price target of $120, although ratings range from “Sell” to “Strong Buy.” Institutional investors own 87.67% of the company.

Anterix Inc. (NASDAQ:ATEX - Get Free Report) insider Gena Ashe sold 4,357 shares of the company's stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $85.44, for a total value of $372,262.08. Following the completion of the transaction, the insider directly owned 5,174 shares of the company's stock, valued at $442,066.56. This represents a 45.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Anterix Trading Down 1.0%

NASDAQ:ATEX traded down $0.83 during mid-day trading on Tuesday, hitting $85.44. 229,616 shares of the company's stock were exchanged, compared to its average volume of 389,373. The company has a 50 day simple moving average of $96.30 and a 200-day simple moving average of $67.33. Anterix Inc. has a fifty-two week low of $17.58 and a fifty-two week high of $113.00. The firm has a market capitalization of $1.68 billion, a P/E ratio of 24.41 and a beta of 0.84.

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

Wall Street Analysts Forecast Growth

ATEX has been the subject of a number of recent research reports. 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 report on Thursday, August 13th. Wall Street Zen lowered Anterix from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Weiss Ratings raised Anterix from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, June 26th. Clear Str upgraded Anterix to a "strong-buy" rating in a research report on Monday, July 27th. Finally, DA Davidson set a $161.00 price objective on Anterix in a research note on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $120.00.

Institutional Investors Weigh In On Anterix

Large investors have recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in Anterix by 16.9% in the first quarter. AQR Capital Management LLC now owns 11,489 shares of the company's stock valued at $420,000 after buying an additional 1,659 shares during the period. Millennium Management LLC grew its holdings in Anterix by 50.6% during the 1st quarter. Millennium Management LLC now owns 116,473 shares of the company's stock worth $4,263,000 after acquiring an additional 39,143 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Anterix by 17.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 124,706 shares of the company's stock worth $4,564,000 after acquiring an additional 18,771 shares in the last quarter. Legal & General Group Plc raised its position in shares of Anterix by 19.7% in the 2nd quarter. Legal & General Group Plc now owns 11,303 shares of the company's stock worth $290,000 after acquiring an additional 1,857 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Anterix by 70.9% in the 2nd quarter. Rhumbline Advisers now owns 27,998 shares of the company's stock valued at $718,000 after purchasing an additional 11,615 shares during the period. 87.67% of the stock is currently owned by institutional investors and hedge funds.

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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