Wellington Management Group LLP Makes New $3.19 Million Investment in Anterix Inc. $ATEX

Wellington Management Group LLP purchased a new stake in Anterix Inc. (NASDAQ:ATEX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 31,006 shares of the company’s stock, valued at approximately $3,192,000. Wellington Management Group LLP owned 0.16% of Anterix as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank of America Corp DE lifted its stake in Anterix by 17.2% in the first quarter. Bank of America Corp DE now owns 167,781 shares of the company’s stock valued at $6,408,000 after buying an additional 24,657 shares during the period. GSA Capital Partners LLP increased its stake in shares of Anterix by 22.3% in the 4th quarter. GSA Capital Partners LLP now owns 72,976 shares of the company’s stock valued at $1,593,000 after acquiring an additional 13,324 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Anterix in the 2nd quarter valued at approximately $7,141,000. Kirr Marbach & Co. LLC IN boosted its stake in Anterix by 13.3% during the 1st quarter. Kirr Marbach & Co. LLC IN now owns 113,814 shares of the company’s stock worth $4,347,000 after acquiring an additional 13,396 shares during the last quarter. Finally, BlackRock Inc. acquired a new position in Anterix during the second quarter valued at approximately $110,672,000. 87.67% of the stock is currently owned by institutional investors.

Anterix Stock Down 1.8%

Anterix stock opened at $83.93 on Thursday. The company has a 50 day moving average of $95.46 and a 200-day moving average of $68.05. Anterix Inc. has a twelve month low of $17.58 and a twelve month high of $113.00. The stock has a market capitalization of $1.65 billion, a PE ratio of 23.98 and a beta of 0.84.

Anterix (NASDAQ:ATEX) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.43) by $0.44. The business 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%. Equities analysts anticipate that Anterix Inc. will post -2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Chairman Thomas Kuhn sold 10,000 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $88.85, for a total transaction of $888,500.00. Following the completion of the transaction, the chairman directly owned 17,731 shares in the company, valued at approximately $1,575,399.35. This trade represents a 36.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Christopher Guttman-Mccabe sold 23,439 shares of Anterix stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $92.36, for a total value of $2,164,826.04. Following the completion of the sale, the insider directly owned 44,876 shares in the company, valued at approximately $4,144,747.36. This represents a 34.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 220,059 shares of company stock valued at $18,792,264. Corporate insiders own 40.05% of the company’s stock.

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.