Key Points
- Anterix CEO Scott Lang sold 170 shares on June 18 at an average price of $80.25, totaling $13,642.50. After the transaction, he still owned 76,527 shares valued at about $6.14 million.
- ATEX stock rose 3.3% and opened at $77.02, near its 52-week high of $88.12. The company now has a market cap of $1.44 billion and a P/E ratio of 15.91.
- Analysts are cautious on Anterix, with an average rating of “Hold” and a consensus price target of $59.50. Recent updates included B. Riley cutting the stock to neutral while raising its price target to $69.00.
Anterix Inc. (NASDAQ:ATEX - Get Free Report) CEO Scott Lang sold 170 shares of the firm's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $80.25, for a total value of $13,642.50. Following the sale, the chief executive officer directly owned 76,527 shares in the company, valued at $6,141,291.75. The trade was a 0.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Anterix Trading Up 3.3%
ATEX stock opened at $77.02 on Tuesday. Anterix Inc. has a 1-year low of $17.58 and a 1-year high of $88.12. The firm has a market cap of $1.44 billion, a PE ratio of 15.91 and a beta of 0.95. The business's 50-day moving average price is $58.15 and its two-hundred day moving average price is $39.80.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on ATEX. B. Riley Financial cut Anterix from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $44.00 to $69.00 in a report on Thursday, June 4th. Weiss Ratings raised Anterix from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Anterix has an average rating of "Hold" and an average target price of $59.50.
Get Our Latest Analysis on Anterix
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its stake in Anterix by 63.7% in the 1st quarter. Parallel Advisors LLC now owns 933 shares of the company's stock valued at $36,000 after buying an additional 363 shares during the last quarter. Bank of America Corp DE lifted its position in Anterix by 17.2% during the 1st quarter. Bank of America Corp DE now owns 167,781 shares of the company's stock worth $6,408,000 after buying an additional 24,657 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Anterix by 151.2% during the 1st quarter. Royal Bank of Canada now owns 3,034 shares of the company's stock worth $116,000 after buying an additional 1,826 shares during the last quarter. Quantinno Capital Management LP boosted its stake in shares of Anterix by 64.6% during the 1st quarter. Quantinno Capital Management LP now owns 15,619 shares of the company's stock worth $596,000 after buying an additional 6,132 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew 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 acquiring an additional 3,350 shares in the last quarter. Institutional investors own 87.67% of the company's stock.
About Anterix
(
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.
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