Quantinno Capital Management LP grew its stake in shares of Anterix Inc. (NASDAQ:ATEX – Free Report) by 64.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,619 shares of the company’s stock after purchasing an additional 6,132 shares during the period. Quantinno Capital Management LP’s holdings in Anterix were worth $596,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in ATEX. 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 boosted its holdings in Anterix by 30.8% during the first quarter. Dimensional Fund Advisors LP now owns 424,856 shares of the company’s stock worth $16,223,000 after buying an additional 99,933 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Anterix by 63.7% during the first quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock worth $36,000 after buying an additional 363 shares in the last quarter. Fifth Third Bancorp acquired a new position in Anterix during the first quarter worth about $64,000. Finally, Waterfront Wealth Inc. grew its position in Anterix by 23.3% during the first quarter. Waterfront Wealth Inc. now owns 59,955 shares of the company’s stock worth $2,290,000 after buying an additional 11,328 shares during the period. 87.67% of the stock is owned by institutional investors and hedge funds.
Anterix Trading Down 2.3%
NASDAQ:ATEX opened at $88.68 on Thursday. The firm has a 50-day moving average price of $94.07 and a two-hundred day moving average price of $61.75. Anterix Inc. has a twelve month low of $17.58 and a twelve month high of $113.00. The company has a market capitalization of $1.74 billion, a P/E ratio of 25.34 and a beta of 0.85.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. B. Riley Financial downgraded shares of Anterix from a “buy” rating to a “neutral” rating and lifted their price target for the company from $44.00 to $69.00 in a research report on Thursday, June 4th. Weiss Ratings upgraded Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. JPMorgan Chase & Co. dropped their price objective on Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, August 13th. Wall Street Zen cut Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Clear Str upgraded Anterix to a “strong-buy” rating in a research report on Monday, July 27th. One 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 stock presently has an average rating of “Moderate Buy” and an average target price of $99.50.
Check Out Our Latest Stock Analysis on Anterix
Insider Buying and Selling at Anterix
In related news, Director William Heard sold 46,400 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $90.11, for a total value of $4,181,104.00. Following the sale, the director owned 1,670,338 shares of the company’s stock, valued at approximately $150,514,157.18. This represents a 2.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elena Marquez sold 4,291 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $79.50, for a total value of $341,134.50. Following the sale, the chief financial officer owned 18,387 shares in the company, valued at approximately $1,461,766.50. This trade represents a 18.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 170,509 shares of company stock worth $14,355,262. 40.05% of the stock is currently owned by insiders.
Anterix 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.
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