Key Points
- Anterix insider Christopher Guttman-Mccabe sold 91,437 shares on June 15 at an average price of $82.46, totaling about $7.54 million. The sale cut his ownership by 54.03%.
- ATEX has traded near its recent highs, opening at $79.16 with a 52-week range of $17.58 to $88.12. The company now has a market cap of $1.48 billion and a P/E ratio of 16.36.
- Wall Street sentiment remains cautious, with a consensus rating of “Hold” and an average price target of $59.50. B. Riley recently downgraded the stock to neutral while raising its target to $69.00.
Anterix Inc. (NASDAQ:ATEX - Get Free Report) Director Mark Fleischhauer sold 3,500 shares of Anterix stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $79.83, for a total transaction of $279,405.00. Following the sale, the director owned 12,769 shares of the company's stock, valued at $1,019,349.27. The trade was a 21.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Anterix Price Performance
Shares of ATEX opened at $79.16 on Thursday. Anterix Inc. has a 1-year low of $17.58 and a 1-year high of $88.12. The company has a 50-day moving average of $56.03 and a 200 day moving average of $38.64. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 16.36 and a beta of 0.95.
Wall Street Analysts Forecast Growth
A number of research firms have commented on ATEX. B. Riley Financial downgraded shares of Anterix from a "buy" rating to a "neutral" rating and raised their target price for the company from $44.00 to $69.00 in a research report on Thursday, June 4th. Weiss Ratings raised shares of Anterix from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $59.50.
Get Our Latest Stock Report on Anterix
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. purchased a new position in Anterix during the 4th quarter valued at about $9,922,000. Millennium Management LLC increased its position in Anterix by 1,153.1% during the 4th quarter. Millennium Management LLC now owns 439,946 shares of the company's stock valued at $9,604,000 after purchasing an additional 404,838 shares during the period. Gamco Investors INC. ET AL increased its position in Anterix by 0.8% during 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 during the period. Dimensional Fund Advisors LP increased its position in Anterix by 30.8% during the 1st 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, State Street Corp increased its position in Anterix by 5.4% during the 4th quarter. State Street Corp now owns 333,788 shares of the company's stock valued at $7,287,000 after purchasing an additional 17,017 shares during the period. Hedge funds and other institutional investors own 87.67% of the company's stock.
Anterix Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
