Anterix Inc. (NASDAQ:ATEX) Stock Has Average Price Target of $120.00

Shares of Anterix Inc. (NASDAQ:ATEX) have received a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $120.00.

A number of research analysts recently commented on the stock. Weiss Ratings raised shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 2nd. DA Davidson set a $161.00 price target on shares of Anterix in a research note on Friday, August 21st. JPMorgan Chase & Co. reduced their price target 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. Clear Str raised shares of Anterix to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Wall Street Zen downgraded shares of Anterix from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th.

Anterix Price Performance

ATEX opened at $84.48 on Tuesday. The business has a fifty day moving average price of $85.72 and a 200 day moving average price of $76.02. Anterix has a 12 month low of $17.58 and a 12 month high of $113.00.

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

Insider Activity at Anterix

In related news, Director William Heard sold 46,400 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $90.11, for a total value of $4,181,104.00. Following the completion of the sale, the director owned 1,670,338 shares in the company, valued at $150,514,157.18. This represents a 2.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott A. Lang sold 15,000 shares of the stock in a transaction on Monday, September 21st. The stock was sold at an average price of $80.00, for a total transaction of $1,200,000.00. Following the sale, the chief executive officer owned 26,470 shares of the company’s stock, valued at approximately $2,117,600. This represents a 36.17% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 124,841 shares of company stock valued at $10,975,765. Corporate insiders own 40.05% of the company’s stock.

Institutional Investors Weigh In On Anterix

Large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Anterix in the 2nd quarter valued at $110,672,000. Jupiter Topco LLC purchased a new stake in Anterix in the 2nd quarter valued at approximately $68,189,000. Gamco Investors INC. ET AL increased its holdings in shares of Anterix by 0.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 425,820 shares of the company’s stock valued at $16,262,000 after purchasing an additional 3,350 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of 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 purchasing an additional 99,933 shares during the period. Finally, Panoramic Capital LLC acquired a new stake in shares of Anterix in the second quarter valued at about $15,892,000. Hedge funds and other institutional investors own 87.67% of the company’s stock.

Anterix Company Profile

Anterix Inc (NASDAQ: ATEX) develops and enables private wireless broadband networks for critical infrastructure organizations in the United States. The company focuses on using its licensed 900 MHz spectrum to support secure, reliable communications for electric utilities and other organizations that require resilient connectivity for operational technology and field personnel.

Anterix provides spectrum access and related solutions designed to help utilities modernize communications networks, including support for grid management, outage response, remote monitoring, automation and other mission-critical applications.