Anterix Inc. (NASDAQ:ATEX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Anterix Inc. (NASDAQ:ATEX – Get Free Report) has been assigned an average rating of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $120.00.

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. JPMorgan Chase & Co. dropped their target price on shares of Anterix from $133.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, August 13th. DA Davidson set a $161.00 price target on shares of Anterix in a research 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 company from $44.00 to $69.00 in a report on Thursday, June 4th. Finally, Clear Str raised shares of Anterix to a “strong-buy” rating in a research report on Monday, July 27th.

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Insider Buying and Selling

In other Anterix news, insider Christopher Guttman-Mccabe sold 23,439 shares of Anterix stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $92.36, for a total value of $2,164,826.04. Following the completion of the transaction, the insider directly owned 44,876 shares in the company, valued at $4,144,747.36. The trade was a 34.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Chairman Thomas Kuhn sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $88.85, for a total value of $888,500.00. Following the transaction, the chairman directly owned 17,731 shares of the company’s stock, valued at $1,575,399.35. This trade represents a 36.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 104,860 shares of company stock valued at $9,375,143 over the last 90 days. 40.05% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC acquired a new stake in shares of Anterix in the second quarter valued at approximately $35,000. Parallel Advisors LLC boosted its position in shares of 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 during the period. Fifth Third Bancorp acquired a new position in shares of Anterix during the first quarter worth approximately $64,000. Legal & General Group Plc bought a new position in Anterix in the 2nd quarter worth approximately $222,000. Finally, Ieq Capital LLC bought a new position in Anterix in the 2nd quarter worth approximately $226,000. Institutional investors own 87.67% of the company’s stock.

Anterix Trading Up 1.6%

Shares of ATEX opened at $77.42 on Friday. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 22.12 and a beta of 0.84. The stock has a 50 day moving average of $92.33 and a 200-day moving average of $69.83. Anterix has a 52 week low of $17.58 and a 52 week high of $113.00.

Anterix (NASDAQ:ATEX – Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.44. The business had revenue of $1.96 million during 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%. On average, sell-side analysts predict that Anterix will post -2 earnings per share for the current fiscal year.

Anterix Company Profile

(Get Free Report)

Anterix Inc (NASDAQ: ATEX) provides private wireless broadband solutions for critical infrastructure organizations, with a primary focus on electric utilities in the United States. The company’s services are designed to support mission-critical communications, grid modernization, operational technology, and other applications that require secure and reliable connectivity.

Anterix owns and manages licensed spectrum in the 900 MHz band and makes that spectrum available through arrangements with utility and infrastructure customers.

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