Thomas Kuhn Sells 10,000 Shares of Anterix (NASDAQ:ATEX) Stock

Anterix Inc. (NASDAQ:ATEX) Chairman Thomas Kuhn sold 10,000 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $88.85, for a total value of $888,500.00. Following the sale, the chairman owned 17,731 shares of the company’s stock, valued at approximately $1,575,399.35. The trade was a 36.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Anterix Trading Up 0.5%

Shares of ATEX opened at $94.67 on Friday. Anterix Inc. has a twelve month low of $17.58 and a twelve month high of $113.00. The firm has a market capitalization of $1.86 billion, a P/E ratio of 27.05 and a beta of 0.85. The stock’s fifty day simple moving average is $95.51 and its 200 day simple moving average is $64.48.

Anterix (NASDAQ:ATEX) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.44. The firm had revenue of $1.96 million during the quarter, compared to the consensus estimate of $2.00 million. Anterix had a negative return on equity of 10.65% and a net margin of 933.03%. Sell-side analysts predict that Anterix Inc. will post -2 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on ATEX shares. DA Davidson set a $161.00 target price on shares of Anterix in a research report on Friday, August 21st. Clear Str upgraded shares of Anterix to a “strong-buy” rating in a research note on Monday, July 27th. Wall Street Zen downgraded shares of Anterix from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. Finally, JPMorgan Chase & Co. lowered their price target on Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

Hedge Funds Weigh In On Anterix

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC grew its position in Anterix by 63.7% in the first quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock valued at $36,000 after acquiring an additional 363 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Anterix by 299.3% during the second 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 period. Fifth Third Bancorp acquired a new position in shares of Anterix during the first quarter worth $64,000. Legal & General Group Plc acquired a new position in shares of Anterix during the second quarter worth $222,000. Finally, Ieq Capital LLC purchased a new position in shares of Anterix in the second quarter valued at $226,000. 87.67% of the stock is 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.