Anterix (NASDAQ:ATEX) Price Target Raised to $133.00 at JPMorgan Chase & Co.

Anterix (NASDAQ:ATEX) had its target price lifted by analysts at JPMorgan Chase & Co. from $50.00 to $133.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 25.14% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on ATEX. Weiss Ratings upgraded Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. B. Riley Financial lowered shares of Anterix from a “buy” rating to a “neutral” rating and raised their target price for the stock from $44.00 to $69.00 in a research report on Thursday, June 4th. Finally, Wall Street Zen raised shares of Anterix from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $101.00.

Anterix Trading Up 5.9%

Shares of Anterix stock traded up $5.93 on Monday, hitting $106.28. The stock had a trading volume of 146,991 shares, compared to its average volume of 404,077. Anterix has a 52-week low of $17.58 and a 52-week high of $113.00. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 21.78 and a beta of 0.83. The company’s 50 day moving average price is $78.69 and its 200 day moving average price is $50.13.

Insider Transactions at Anterix

In other Anterix news, CFO Elena Marquez sold 4,291 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $79.50, for a total transaction of $341,134.50. Following the completion of the sale, the chief financial officer directly owned 18,387 shares of the company’s stock, valued at $1,461,766.50. This represents a 18.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Guttman-Mccabe sold 91,437 shares of Anterix stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $82.46, for a total value of $7,539,895.02. Following the completion of the transaction, the insider owned 77,807 shares in the company, valued at $6,415,965.22. This trade represents a 54.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 124,109 shares of company stock worth $10,174,158 over the last three months. 40.05% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Anterix

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jefferies Financial Group Inc. purchased a new position in Anterix during the 4th quarter worth $9,922,000. Millennium Management LLC boosted its holdings in shares of Anterix by 1,153.1% in the fourth quarter. Millennium Management LLC now owns 439,946 shares of the company’s stock valued at $9,604,000 after acquiring an additional 404,838 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Anterix by 0.8% in the first quarter. Gamco Investors INC. ET AL now owns 425,820 shares of the company’s stock valued at $16,262,000 after acquiring an additional 3,350 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Anterix by 30.8% during the first quarter. Dimensional Fund Advisors LP now owns 424,856 shares of the company’s stock worth $16,223,000 after acquiring an additional 99,933 shares during the period. Finally, State Street Corp increased its stake in shares of Anterix by 5.4% during the fourth quarter. State Street Corp now owns 333,788 shares of the company’s stock worth $7,287,000 after acquiring an additional 17,017 shares during the period. 87.67% of the stock is currently owned by hedge funds and other 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.