Deutsche Bank AG Takes Position in Anterix Inc. $ATEX

Deutsche Bank AG bought a new position in shares of Anterix Inc. (NASDAQ:ATEX) in the second quarter, Holdings Channel reports. The institutional investor bought 15,643 shares of the company’s stock, valued at approximately $1,610,000.

Several other hedge funds have also recently modified their holdings of ATEX. Parallel Advisors LLC lifted its stake in Anterix by 63.7% in the 1st quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock valued at $36,000 after buying an additional 363 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Anterix by 299.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock worth $42,000 after buying an additional 1,233 shares in the last quarter. Fifth Third Bancorp purchased a new stake in Anterix during the 1st quarter worth approximately $64,000. BNP Paribas Financial Markets raised its holdings in shares of Anterix by 119.3% during the second quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock valued at $62,000 after acquiring an additional 1,308 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Anterix during the third quarter valued at approximately $57,000. Institutional investors and hedge funds own 87.67% of the company’s stock.

Insider Activity

In other Anterix news, Director Mahvash Yazdi sold 7,000 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $80.00, for a total value of $560,000.00. Following the completion of the sale, the director directly owned 19,407 shares in the company, valued at $1,552,560. This represents a 26.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Guttman-Mccabe sold 91,437 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $82.46, for a total value of $7,539,895.02. Following the completion of the sale, the insider directly owned 77,807 shares of the company’s stock, valued at $6,415,965.22. This trade represents a 54.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 205,602 shares of company stock valued at $17,540,115 in the last 90 days. 40.05% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Anterix Trading Down 2.5%

ATEX stock opened at $92.33 on Friday. The firm has a 50-day moving average of $95.86 and a two-hundred day moving average of $64.67. Anterix Inc. has a 12 month low of $17.58 and a 12 month high of $113.00. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 26.38 and a beta of 0.85.

Anterix (NASDAQ:ATEX) last issued its earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.44. The business had revenue of $1.96 million for the quarter, compared to analysts’ expectations of $2.00 million. Anterix had a negative return on equity of 10.65% and a net margin of 933.03%. As a group, equities analysts forecast that Anterix Inc. will post -2 earnings per share for the current year.

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.