Christopher Guttman-Mccabe Sells 23,439 Shares of Anterix (NASDAQ:ATEX) Stock

Anterix Inc. (NASDAQ:ATEX) insider Christopher Guttman-Mccabe sold 23,439 shares of the firm’s 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 transaction, the insider owned 44,876 shares in the company, valued at approximately $4,144,747.36. This trade represents a 34.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Christopher Guttman-Mccabe also recently made the following trade(s):

• On Monday, June 15th, Christopher Guttman-Mccabe sold 91,437 shares of Anterix stock. The shares were sold at an average price of $82.46, for a total value of $7,539,895.02.

Anterix Stock Up 0.5%

Shares of Anterix stock traded up $0.51 during trading hours on Thursday, reaching $94.67. 229,887 shares of the company’s stock were exchanged, compared to its average volume of 395,028. The company has a market capitalization of $1.86 billion, a P/E ratio of 27.05 and a beta of 0.85. Anterix Inc. has a 1 year low of $17.58 and a 1 year high of $113.00. The business has a fifty day moving average of $95.10 and a two-hundred day moving average of $64.01.

Anterix (NASDAQ:ATEX) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.44. The company had revenue of $1.96 million during 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%. As a group, research analysts predict that Anterix Inc. will post -2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wall Street Zen downgraded Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. B. Riley Financial cut shares of Anterix from a “buy” rating to a “neutral” rating and increased their price target for the stock from $44.00 to $69.00 in a research note on Thursday, June 4th. JPMorgan Chase & Co. lowered 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. Clear Str upgraded shares of Anterix to a “strong-buy” rating in a research note on Monday, July 27th. Finally, Weiss Ratings raised shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $120.00.

Hedge Funds Weigh In On Anterix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP raised its holdings in 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 America Corp DE boosted its holdings in shares of Anterix by 17.2% during the first quarter. Bank of America Corp DE now owns 167,781 shares of the company’s stock worth $6,408,000 after purchasing an additional 24,657 shares during the last quarter. Kirr Marbach & Co. LLC IN boosted its holdings in shares of Anterix by 13.3% during the first quarter. Kirr Marbach & Co. LLC IN now owns 113,814 shares of the company’s stock worth $4,347,000 after purchasing an additional 13,396 shares during the last quarter. Waterfront Wealth Inc. grew its position in shares of Anterix by 23.3% in the first quarter. Waterfront Wealth Inc. now owns 59,955 shares of the company’s stock valued at $2,290,000 after purchasing an additional 11,328 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Anterix by 30.8% in the first quarter. Dimensional Fund Advisors LP now owns 424,856 shares of the company’s stock valued at $16,223,000 after purchasing an additional 99,933 shares during the period. Institutional investors and hedge funds 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.