Anterix (NASDAQ:ATEX) Director Leslie Daniels Sells 2,500 Shares of Stock

Anterix Inc. (NASDAQ:ATEX) Director Leslie Daniels sold 2,500 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $83.83, for a total transaction of $209,575.00. Following the transaction, the director directly owned 43,477 shares of the company’s stock, valued at approximately $3,644,676.91. This trade represents a 5.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Anterix Stock Down 0.8%

Shares of Anterix stock traded down $0.65 during trading on Friday, reaching $82.14. 431,279 shares of the stock were exchanged, compared to its average volume of 389,341. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 23.47 and a beta of 0.84. Anterix Inc. has a 1 year low of $17.58 and a 1 year high of $113.00. The stock’s fifty day moving average is $95.02 and its 200 day moving average is $68.38.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ATEX shares. B. Riley Financial downgraded Anterix from a “buy” rating to a “neutral” rating and upped their target price for the company from $44.00 to $69.00 in a report on Thursday, June 4th. Clear Str upgraded shares of Anterix to a “strong-buy” rating in a report on Monday, July 27th. JPMorgan Chase & Co. reduced their price objective on shares of Anterix from $133.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th. Weiss Ratings upgraded shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. Finally, DA Davidson set a $161.00 target price on shares of Anterix in a research report on Friday, August 21st. One investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new position in shares of Anterix in the 2nd quarter valued at approximately $35,000. Parallel Advisors LLC grew its stake in Anterix by 63.7% in 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 grew its stake in Anterix by 299.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock worth $42,000 after purchasing an additional 1,233 shares during the period. Quantbot Technologies LP bought a new position in Anterix in the third quarter worth $57,000. Finally, BNP Paribas Financial Markets raised its holdings in Anterix by 119.3% in the second quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock worth $62,000 after purchasing an additional 1,308 shares in the last quarter. Institutional investors own 87.67% of the company’s stock.

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.