Anterix Inc. (NASDAQ:ATEX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Anterix Inc. (NASDAQ:ATEX) have been given an average rating of “Moderate Buy” by the five ratings firms that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $101.00.

A number of analysts have recently weighed in on ATEX shares. JPMorgan Chase & Co. raised their price target on shares of Anterix from $50.00 to $133.00 and gave the company an “overweight” rating in a report on Monday, July 20th. Wall Street Zen upgraded shares of Anterix from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. B. Riley Financial lowered 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. Clear Str raised Anterix to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Weiss Ratings upgraded Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th.

Insider Activity at Anterix

In other news, insider Christopher Guttman-Mccabe sold 91,437 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $82.46, for a total transaction of $7,539,895.02. Following the transaction, the insider owned 77,807 shares in the company, valued at $6,415,965.22. This represents a 54.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mahvash Yazdi sold 7,000 shares of the stock in a transaction that occurred on 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 directly owned 19,407 shares of the company’s stock, valued at $1,552,560. The trade was a 26.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 124,109 shares of company stock worth $10,174,158 over the last ninety days. Corporate insiders own 40.05% of the company’s stock.

Institutional Trading of Anterix

Several large investors have recently bought and sold shares of ATEX. Parallel Advisors LLC lifted its stake 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 during the period. Tower Research Capital LLC TRC grew its stake in Anterix by 299.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock valued at $42,000 after purchasing an additional 1,233 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Anterix in the third quarter valued at about $57,000. BNP Paribas Financial Markets increased its holdings in shares of Anterix by 119.3% in the second quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock valued at $62,000 after purchasing an additional 1,308 shares during the period. Finally, Fifth Third Bancorp purchased a new position in shares of Anterix in the first quarter worth about $64,000. Hedge funds and other institutional investors own 87.67% of the company’s stock.

Anterix Stock Down 6.4%

Shares of NASDAQ:ATEX opened at $99.50 on Thursday. The firm has a 50 day moving average of $88.68 and a 200 day moving average of $56.98. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 20.56 and a beta of 0.85. Anterix has a 52 week low of $17.58 and a 52 week high of $113.00.

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.