Gena Ashe Sells 17,711 Shares of Anterix (NASDAQ:ATEX) Stock

Anterix Inc. (NASDAQ:ATEX) insider Gena Ashe sold 17,711 shares of Anterix stock in a transaction on Monday, June 15th. The stock was sold at an average price of $81.31, for a total transaction of $1,440,081.41. Following the sale, the insider directly owned 9,531 shares in the company, valued at $774,965.61. This trade represents a 65.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Anterix Price Performance

NASDAQ:ATEX opened at $74.53 on Friday. The firm has a 50-day moving average of $56.70 and a two-hundred day moving average of $39.02. The stock has a market cap of $1.40 billion, a P/E ratio of 15.40 and a beta of 0.95. Anterix Inc. has a 1-year low of $17.58 and a 1-year high of $88.12.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Jefferies Financial Group Inc. bought a new stake in shares of Anterix in the 4th quarter valued at approximately $9,922,000. Millennium Management LLC lifted its stake 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 purchasing an additional 404,838 shares during the last quarter. Beartown Capital Management LLC bought a new position in Anterix during the fourth quarter worth $3,165,000. Gamco Investors INC. ET AL boosted its holdings in Anterix by 32.0% in the fourth quarter. Gamco Investors INC. ET AL now owns 422,470 shares of the company’s stock worth $9,223,000 after purchasing an additional 102,400 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Anterix by 30.8% during 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 last quarter. Institutional investors and hedge funds own 87.67% of the company’s stock.

Analysts Set New Price Targets

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

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.