Anterix (NASDAQ:ATEX) Chairman Sells $131,526.08 in Stock

Anterix Inc. (NASDAQ:ATEX) Chairman Thomas Kuhn sold 1,654 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $79.52, for a total value of $131,526.08. Following the completion of the transaction, the chairman directly owned 17,731 shares in the company, valued at $1,409,969.12. This trade represents a 8.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Anterix Price Performance

Shares of NASDAQ ATEX opened at $92.33 on Friday. Anterix Inc. has a 1-year low of $17.58 and a 1-year high of $113.00. The business has a 50-day moving average of $95.86 and a 200-day moving average of $64.67. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 26.38 and a beta of 0.85.

Anterix (NASDAQ:ATEX) last announced its earnings results on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.43) by $0.44. The business had revenue of $1.96 million for 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%. Research analysts expect that Anterix Inc. will post -2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ATEX has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. JPMorgan Chase & Co. decreased their price objective on shares of Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. DA Davidson set a $161.00 price objective on Anterix in a report on Friday, August 21st. B. Riley Financial lowered shares of Anterix from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $44.00 to $69.00 in a research note on Thursday, June 4th. Finally, Wall Street Zen cut shares of Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. One investment 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

Institutional Trading of Anterix

Several institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in shares of Anterix by 17.2% in the 1st quarter. Bank of America Corp DE now owns 167,781 shares of the company’s stock worth $6,408,000 after buying an additional 24,657 shares during the last quarter. GSA Capital Partners LLP raised its stake in Anterix by 22.3% during the fourth quarter. GSA Capital Partners LLP now owns 72,976 shares of the company’s stock worth $1,593,000 after acquiring an additional 13,324 shares during the period. Kirr Marbach & Co. LLC IN lifted its holdings in Anterix by 13.3% in the first quarter. Kirr Marbach & Co. LLC IN now owns 113,814 shares of the company’s stock worth $4,347,000 after acquiring an additional 13,396 shares during the last quarter. Waterfront Wealth Inc. lifted its holdings in Anterix by 23.3% in the first quarter. Waterfront Wealth Inc. now owns 59,955 shares of the company’s stock worth $2,290,000 after acquiring an additional 11,328 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Anterix by 30.8% in the first quarter. Dimensional Fund Advisors LP now owns 424,856 shares of the company’s stock valued at $16,223,000 after acquiring an additional 99,933 shares during the period. Institutional investors own 87.67% of the company’s stock.

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.