Anterix Inc. (NASDAQ:ATEX) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Anterix Inc. (NASDAQ:ATEX) have been assigned a consensus rating of “Moderate Buy” from the five brokerages that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $120.00.

A number of research analysts have issued reports on ATEX shares. Clear Str raised shares of Anterix to a “strong-buy” rating in a report on Monday, July 27th. Weiss Ratings upgraded Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. Wall Street Zen downgraded Anterix from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. DA Davidson set a $161.00 price objective on Anterix in a report on Friday, August 21st. Finally, JPMorgan Chase & Co. decreased their target price on Anterix from $133.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, August 13th.

Insider Buying and Selling at Anterix

In related news, Director Mahvash Yazdi sold 7,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $80.00, for a total value of $560,000.00. Following the sale, the director directly owned 19,407 shares in the company, 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 available at this hyperlink. Also, Director William Heard sold 46,400 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $90.11, for a total transaction of $4,181,104.00. Following the completion of the sale, the director directly owned 1,670,338 shares in the company, valued at approximately $150,514,157.18. The trade was a 2.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 205,602 shares of company stock worth $17,540,115. Insiders own 40.05% of the company’s stock.

Institutional Trading of Anterix

Large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Anterix during the 2nd quarter worth approximately $110,672,000. Jupiter Topco LLC acquired a new stake in Anterix during the 2nd quarter valued at $68,189,000. Jefferies Financial Group Inc. acquired a new stake in Anterix during the 4th quarter valued at $9,922,000. Millennium Management LLC increased its position in Anterix by 1,153.1% during the fourth quarter. Millennium Management LLC now owns 439,946 shares of the company’s stock worth $9,604,000 after buying an additional 404,838 shares in the last quarter. Finally, Panoramic Capital LLC purchased a new position in Anterix during the second quarter worth $15,892,000. 87.67% of the stock is currently owned by institutional investors and hedge funds.

Anterix Trading Down 2.5%

Shares of ATEX stock opened at $92.33 on Monday. The stock has a 50 day simple moving average of $95.86 and a 200-day simple moving average of $64.67. 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 has a 12-month low of $17.58 and a 12-month high of $113.00.

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