Mahvash Yazdi Sells 7,000 Shares of Anterix (NASDAQ:ATEX) Stock

Anterix Inc. (NASDAQ:ATEX) Director Mahvash Yazdi sold 7,000 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $80.00, for a total transaction of $560,000.00. Following the completion of the transaction, the director owned 19,407 shares of the company’s stock, valued at $1,552,560. This represents a 26.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Anterix Stock Performance

NASDAQ:ATEX traded up $1.53 during mid-day trading on Wednesday, hitting $79.16. 469,364 shares of the company’s stock traded hands, compared to its average volume of 488,175. The firm’s 50 day simple moving average is $56.03 and its 200 day simple moving average is $38.64. Anterix Inc. has a 1 year low of $17.58 and a 1 year high of $88.12. The company has a market cap of $1.48 billion, a PE ratio of 16.36 and a beta of 0.95.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ATEX shares. Weiss Ratings upgraded shares of Anterix from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, April 21st. B. Riley Financial downgraded shares of Anterix from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $44.00 to $69.00 in a report on Thursday, June 4th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Anterix presently has an average rating of “Hold” and an average target price of $59.50.

Institutional Investors Weigh In On Anterix

A number of hedge funds and other institutional investors have recently modified their holdings of ATEX. Parallel Advisors LLC grew its holdings 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 buying an additional 363 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Anterix by 299.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock worth $42,000 after buying an additional 1,233 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Anterix during the third quarter worth about $57,000. BNP Paribas Financial Markets grew its holdings in shares of Anterix by 119.3% during the second quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock worth $62,000 after buying an additional 1,308 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new stake in shares of Anterix during the first quarter worth about $64,000. 87.67% of the stock is currently owned by hedge funds and other institutional investors.

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.