Thomas Kuhn Sells 1,654 Shares of Anterix (NASDAQ:ATEX) Stock

Anterix Inc. (NASDAQ:ATEX) Chairman Thomas Kuhn sold 1,654 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $79.52, for a total transaction of $131,526.08. Following the sale, the chairman owned 17,731 shares of the company’s stock, valued at $1,409,969.12. The trade was a 8.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Anterix Price Performance

Shares of ATEX stock traded up $1.55 during trading hours on Wednesday, reaching $93.92. The company had a trading volume of 241,195 shares, compared to its average volume of 396,041. Anterix Inc. has a 1-year low of $17.58 and a 1-year high of $113.00. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 26.83 and a beta of 0.85. The company has a 50 day moving average of $94.80 and a 200 day moving average of $63.53.

Anterix (NASDAQ:ATEX) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.44. The business had revenue of $1.96 million during the quarter, compared to analysts’ expectations of $2.00 million. Anterix had a negative return on equity of 10.65% and a net margin of 933.03%. As a group, sell-side analysts forecast that Anterix Inc. will post -2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its position 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 purchasing an additional 363 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Anterix by 299.3% during 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. Fifth Third Bancorp acquired a new position in shares of Anterix in the 1st quarter valued at approximately $64,000. Legal & General Group Plc acquired a new position in shares of Anterix in the 2nd quarter valued at approximately $222,000. Finally, Ieq Capital LLC bought a new stake in Anterix during the 2nd quarter worth approximately $226,000. 87.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on ATEX. DA Davidson set a $161.00 target price on Anterix in a research report on Friday, August 21st. B. Riley Financial lowered shares of Anterix from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $44.00 to $69.00 in a research note on Thursday, June 4th. Wall Street Zen lowered shares of Anterix from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Clear Str upgraded shares of Anterix to a “strong-buy” rating in a report on Monday, July 27th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Anterix currently has an average rating of “Moderate Buy” and an average price target of $120.00.

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.