Weiss Ratings Reiterates Sell (D+) Rating for Anterix (NASDAQ:ATEX)

Key Points

• Weiss Ratings has reiterated a "sell (D+)" rating for Anterix (NASDAQ:ATEX) amid other recent downgrades from analysts.
• Anterix has a current market capitalization of $368.24 million with a consensus rating of "Hold" and an average price target of $50.00.
• Despite a quarterly earnings report showing a $0.48 loss per share, the stock has seen interest from insiders, with CEO Scott A. Lang purchasing 4,650 shares recently.

Anterix (NASDAQ:ATEX - Get Free Report)'s stock had its "sell (d+)" rating reiterated by stock analysts at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

Several other analysts have also recently issued reports on the stock. Wall Street Zen cut shares of Anterix from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. JPMorgan Chase & Co. dropped their price objective on shares of Anterix from $67.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, October 17th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Anterix presently has a consensus rating of "Hold" and an average price target of $50.00.

Anterix Price Performance

NASDAQ ATEX traded up $0.26 during trading hours on Friday, hitting $19.65. 150,094 shares of the company's stock traded hands, compared to its average volume of 180,745. Anterix has a 52-week low of $19.26 and a 52-week high of $42.91. The company has a market capitalization of $368.24 million, a PE ratio of 12.60 and a beta of 0.81. The firm's 50-day moving average is $21.86 and its 200-day moving average is $25.07.

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

Insider Buying and Selling at Anterix

In other news, CEO Scott A. Lang purchased 4,650 shares of the company's stock in a transaction dated Thursday, September 18th. The stock was acquired at an average price of $21.28 per share, with a total value of $98,952.00. Following the purchase, the chief executive officer directly owned 4,650 shares in the company, valued at approximately $98,952. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 45.61% of the stock is currently owned by company insiders.

Institutional Trading of Anterix

Hedge funds have recently made changes to their positions in the company. Brown Advisory Inc. acquired a new position in shares of Anterix in the 1st quarter worth approximately $732,000. Goldman Sachs Group Inc. lifted its holdings 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 during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Anterix by 8.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,029 shares of the company's stock worth $440,000 after acquiring an additional 949 shares during the last quarter. Nuveen LLC acquired a new position in shares of Anterix in the 1st quarter worth approximately $7,204,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Anterix in the 1st quarter worth approximately $155,000. Hedge funds and other 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.

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