Anterix (NASDAQ:ATEX) Upgraded at Clear Str

Anterix (NASDAQ:ATEX) was upgraded by analysts at Clear Str to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other equities analysts have also issued reports on ATEX. JPMorgan Chase & Co. increased their target price on Anterix from $50.00 to $133.00 and gave the stock an “overweight” rating in a research note on Monday, July 20th. B. Riley Financial downgraded 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 shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. Finally, Wall Street Zen raised shares of Anterix from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $101.00.

Anterix Stock Down 3.5%

ATEX opened at $88.20 on Monday. Anterix has a 52 week low of $17.58 and a 52 week high of $113.00. The business has a fifty day simple moving average of $85.20 and a 200-day simple moving average of $54.37. The firm has a market cap of $1.72 billion, a P/E ratio of 18.22 and a beta of 0.83.

Insiders Place Their Bets

In related news, CFO Elena Marquez sold 4,291 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $79.50, for a total transaction of $341,134.50. Following the sale, the chief financial officer directly owned 18,387 shares in the company, valued at approximately $1,461,766.50. This represents a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark Fleischhauer sold 3,500 shares of Anterix stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $79.83, for a total transaction of $279,405.00. Following the completion of the transaction, the director owned 12,769 shares of the company’s stock, valued at $1,019,349.27. This represents a 21.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 124,109 shares of company stock worth $10,174,158. Corporate insiders own 40.05% of the company’s stock.

Institutional Trading of Anterix

Hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC boosted its position in shares of Anterix by 16.9% during the 1st quarter. AQR Capital Management LLC now owns 11,489 shares of the company’s stock worth $420,000 after acquiring an additional 1,659 shares in the last quarter. Millennium Management LLC raised its position in shares of Anterix by 50.6% during the 1st quarter. Millennium Management LLC now owns 116,473 shares of the company’s stock worth $4,263,000 after acquiring an additional 39,143 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Anterix by 17.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 124,706 shares of the company’s stock worth $4,564,000 after acquiring an additional 18,771 shares in the last quarter. Legal & General Group Plc lifted its stake in Anterix by 19.7% during the second quarter. Legal & General Group Plc now owns 11,303 shares of the company’s stock worth $290,000 after purchasing an additional 1,857 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Anterix by 70.9% during the second quarter. Rhumbline Advisers now owns 27,998 shares of the company’s stock worth $718,000 after purchasing an additional 11,615 shares during the last quarter. 87.67% of the stock is currently owned by institutional investors and hedge funds.

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.