Jupiter Topco LLC Buys New Stake in Anterix Inc. $ATEX

Jupiter Topco LLC purchased a new stake in Anterix Inc. (NASDAQ:ATEX) during the second quarter, according to its most recent filing with the SEC. The fund purchased 662,415 shares of the company’s stock, valued at approximately $68,189,000. Jupiter Topco LLC owned about 3.38% of Anterix as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of ATEX. BlackRock Inc. purchased a new position in shares of Anterix during the second quarter valued at about $110,672,000. Jefferies Financial Group Inc. bought a new position in Anterix during the fourth quarter valued at approximately $9,922,000. Millennium Management LLC boosted its stake in Anterix by 1,153.1% during the fourth quarter. Millennium Management LLC now owns 439,946 shares of the company’s stock valued at $9,604,000 after buying an additional 404,838 shares during the last quarter. Beartown Capital Management LLC purchased a new position in shares of Anterix in the 4th quarter worth $3,165,000. Finally, Gamco Investors INC. ET AL grew its position in Anterix by 32.0% in the fourth quarter. Gamco Investors INC. ET AL now owns 422,470 shares of the company’s stock worth $9,223,000 after acquiring an additional 102,400 shares in the last quarter. Hedge funds and other institutional investors own 87.67% of the company’s stock.

Insider Activity

In other news, Director William Heard sold 46,400 shares of the 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 in the company, valued at approximately $150,514,157.18. This trade represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mahvash Yazdi sold 7,000 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $80.00, for a total value of $560,000.00. Following the sale, the director owned 19,407 shares of the company’s stock, valued at approximately $1,552,560. This represents a 26.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 205,602 shares of company stock valued at $17,540,115. 40.05% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on ATEX. DA Davidson set a $161.00 price target on shares of Anterix in a research note on Friday, August 21st. Weiss Ratings upgraded Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. JPMorgan Chase & Co. decreased their price target on Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Clear Str upgraded Anterix to a “strong-buy” rating in a report on Monday, July 27th. Finally, B. Riley Financial downgraded Anterix from a “buy” rating to a “neutral” rating and upped their price objective for the company from $44.00 to $69.00 in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $120.00.

Anterix Stock Performance

Shares of NASDAQ ATEX opened at $94.67 on Friday. Anterix Inc. has a 52-week low of $17.58 and a 52-week high of $113.00. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 27.05 and a beta of 0.85. The stock has a 50 day moving average price of $95.51 and a 200 day moving average price of $64.48.

Anterix (NASDAQ:ATEX) last issued its earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.44. The company had revenue of $1.96 million for the quarter, compared to analysts’ expectations of $2.00 million. Anterix had a net margin of 933.03% and a negative return on equity of 10.65%. Analysts forecast that Anterix Inc. will post -2 earnings per share for the current year.

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.