Anterix (NASDAQ:ATEX) Insider Christopher Guttman-Mccabe Sells 91,437 Shares

Anterix Inc. (NASDAQ:ATEX) insider Christopher Guttman-Mccabe sold 91,437 shares of Anterix stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $82.46, for a total value of $7,539,895.02. Following the transaction, the insider directly owned 77,807 shares in the company, valued at approximately $6,415,965.22. The trade was a 54.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Anterix Stock Up 2.0%

Shares of NASDAQ:ATEX opened at $79.16 on Thursday. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 16.36 and a beta of 0.95. Anterix Inc. has a 12-month low of $17.58 and a 12-month high of $88.12. The business’s 50 day moving average is $56.03 and its 200 day moving average is $38.64.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ATEX. B. Riley Financial cut Anterix from a “buy” rating to a “neutral” rating and lifted their target price for the company from $44.00 to $69.00 in a research report on Thursday, June 4th. Weiss Ratings upgraded Anterix from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Anterix currently has an average rating of “Hold” and a consensus price target of $59.50.

Institutional Trading of Anterix

A number of hedge funds have recently bought and sold shares of ATEX. Jefferies Financial Group Inc. bought a new stake in Anterix during the fourth quarter worth $9,922,000. Millennium Management LLC lifted its holdings in Anterix by 1,153.1% during the fourth quarter. Millennium Management LLC now owns 439,946 shares of the company’s stock worth $9,604,000 after acquiring an additional 404,838 shares during the period. Beartown Capital Management LLC bought a new stake in Anterix during the fourth quarter worth $3,165,000. Gamco Investors INC. ET AL lifted its holdings in Anterix by 32.0% during 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 during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Anterix by 30.8% during the first quarter. Dimensional Fund Advisors LP now owns 424,856 shares of the company’s stock worth $16,223,000 after acquiring an additional 99,933 shares during the period. 87.67% of the stock is currently owned by 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.