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 on Tuesday, June 16th. The stock was sold at an average price of $80.00, for a total transaction of $560,000.00. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Anterix Trading Down 5.8%

Shares of Anterix stock opened at $74.53 on Friday. The company has a fifty day moving average price of $56.70 and a 200 day moving average price of $39.02. Anterix Inc. has a twelve month low of $17.58 and a twelve month high of $88.12. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 15.40 and a beta of 0.95.

Institutional Investors Weigh In On Anterix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in Anterix by 63.7% in the 1st 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. Bank of America Corp DE grew its stake 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 valued at $6,408,000 after acquiring an additional 24,657 shares in the last quarter. Royal Bank of Canada increased its position in shares of Anterix by 151.2% during the first quarter. Royal Bank of Canada now owns 3,034 shares of the company’s stock worth $116,000 after acquiring an additional 1,826 shares during the last quarter. Quantinno Capital Management LP increased its position in shares of Anterix by 64.6% during the first quarter. Quantinno Capital Management LP now owns 15,619 shares of the company’s stock worth $596,000 after acquiring an additional 6,132 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its stake in shares of Anterix by 0.8% in the first quarter. Gamco Investors INC. ET AL now owns 425,820 shares of the company’s stock worth $16,262,000 after acquiring an additional 3,350 shares in the last quarter. Hedge funds and other institutional investors own 87.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ATEX shares. B. Riley Financial downgraded Anterix from a “buy” rating to a “neutral” rating and upped their target price for the stock from $44.00 to $69.00 in a research report on Thursday, June 4th. Weiss Ratings raised Anterix from a “hold (c-)” rating to a “hold (c)” rating in a research 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $59.50.

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.