Insider Selling: Anterix (NASDAQ:ATEX) Director Sells 46,400 Shares

Key Points

• Anterix director William Heard sold 46,400 shares at an average price of $90.11, generating approximately $4.18 million. His remaining stake was valued at about $150.5 million, representing a 2.7% reduction.
• ATEX shares fell 0.9% to $90.75, while the company reported quarterly EPS of $0.01—$0.44 above analyst expectations—on revenue of $1.96 million.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and an average price target of $99.50.

Anterix Inc. (NASDAQ:ATEX - Get Free Report) Director William Heard sold 46,400 shares of the business's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $90.11, for a total transaction of $4,181,104.00. Following the transaction, the director directly owned 1,670,338 shares of the company's stock, valued at approximately $150,514,157.18. This represents a 2.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Anterix Trading Down 0.9%

Shares of ATEX traded down $0.82 during mid-day trading on Tuesday, reaching $90.75. 355,979 shares of the stock traded hands, compared to its average volume of 399,480. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 25.93 and a beta of 0.85. Anterix Inc. has a 1 year low of $17.58 and a 1 year high of $113.00. The firm has a fifty day moving average price of $93.07 and a 200 day moving average price of $60.87.

Anterix (NASDAQ:ATEX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.96 million for the quarter, compared to the consensus estimate of $2.00 million. On average, sell-side analysts anticipate that Anterix Inc. will post -2.07 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ATEX. Wall Street Zen cut shares of Anterix from a "hold" rating to a "sell" rating in a research report on Saturday. B. Riley Financial cut shares of Anterix from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $44.00 to $69.00 in a research note on Thursday, June 4th. JPMorgan Chase & Co. decreased their price target on shares of Anterix from $133.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday, August 13th. Weiss Ratings upgraded shares of Anterix from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, June 26th. Finally, Clear Str raised shares of Anterix to a "strong-buy" rating in a report on Monday, July 27th. One equities research 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 company's stock. According to MarketBeat.com, Anterix has a consensus rating of "Moderate Buy" and an average price target of $99.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC raised its stake in shares of Anterix by 63.7% during the first quarter. Parallel Advisors LLC now owns 933 shares of the company's stock worth $36,000 after acquiring an additional 363 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Anterix by 299.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company's stock valued at $42,000 after purchasing an additional 1,233 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Anterix during the 3rd quarter valued at $57,000. BNP Paribas Financial Markets grew its holdings in shares of Anterix by 119.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company's stock valued at $62,000 after purchasing an additional 1,308 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new position in Anterix in the 1st quarter worth $64,000. 87.67% of the stock is currently owned by institutional investors.

Anterix Company Profile

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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