Scott A. Lang Buys 4,650 Shares of Anterix (NASDAQ:ATEX) Stock

Key Points

• Scott Lang, CEO of Anterix, purchased 4,650 shares of the company's stock at an average price of $21.28 per share, totaling approximately $98,952.
• Anterix's stock price surged by 7.8% to $23.13, following the stock purchase, with a market capitalization of $433.36 million.
• Research analysts have mixed ratings on Anterix, with one citing a Strong Buy and a new average price target of $67.00, but a recent downgrade from a "hold" to a "sell" rating by Wall Street Zen.

Anterix Inc. (NASDAQ:ATEX - Get Free Report) CEO Scott A. Lang purchased 4,650 shares of the business's stock in a transaction dated Thursday, September 18th. The shares were purchased at an average cost of $21.28 per share, for a total transaction of $98,952.00. Following the purchase, the chief executive officer directly owned 4,650 shares of the company's stock, valued at $98,952. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Anterix Price Performance

Shares of Anterix stock traded up $0.80 during trading hours on Friday, hitting $22.25. The company's stock had a trading volume of 620,345 shares, compared to its average volume of 215,330. The company has a market capitalization of $416.97 million, a PE ratio of 14.26 and a beta of 0.91. Anterix Inc. has a 12 month low of $20.61 and a 12 month high of $42.91. The stock has a 50 day moving average of $22.12 and a 200 day moving average of $27.54.

Anterix (NASDAQ:ATEX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.48) earnings per share for the quarter, beating analysts' consensus estimates of ($0.54) by $0.06. The firm had revenue of $1.42 million during the quarter, compared to the consensus estimate of $1.51 million. Anterix had a negative return on equity of 23.87% and a net margin of 495.14%. Equities analysts expect that Anterix Inc. will post -1.53 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Anterix from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Strong Buy" and an average target price of $67.00.

Institutional Trading of Anterix

A number of hedge funds and other institutional investors have recently modified their holdings of ATEX. Northern Trust Corp lifted its stake in shares of Anterix by 8.5% in the 4th quarter. Northern Trust Corp now owns 133,270 shares of the company's stock valued at $4,087,000 after acquiring an additional 10,463 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Anterix during the fourth quarter valued at about $43,000. Deutsche Bank AG boosted its stake in shares of Anterix by 29.6% during the fourth quarter. Deutsche Bank AG now owns 15,207 shares of the company's stock valued at $466,000 after purchasing an additional 3,473 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Anterix by 20.2% during the fourth quarter. Millennium Management LLC now owns 77,330 shares of the company's stock worth $2,372,000 after purchasing an additional 13,017 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its position in Anterix by 26.4% in the 4th quarter. Nuveen Asset Management LLC now owns 185,573 shares of the company's stock valued at $5,692,000 after acquiring an additional 38,770 shares during the period. Institutional investors own 87.67% of the company's stock.

About Anterix

Anterix Inc operates as a wireless communications company. The company focuses on commercializing its spectrum assets to enable the targeted utility and critical infrastructure customers to deploy private broadband networks and innovative broadband solutions. It holds licensed spectrum in the 900 MHz band with coverage throughout the United States, Alaska, Hawaii, and Puerto Rico.