Key Points
- Chairman Thomas Kuhn sold 10,000 Anterix shares at an average price of $88.85, generating $888,500. The sale was made to cover tax-withholding obligations tied to vested equity awards, reducing his holdings by 36.06% to 17,731 shares.
- Anterix recently reported quarterly EPS of $0.01, beating the consensus estimate of a $0.43 loss, while revenue of $1.96 million was slightly below expectations. The stock opened at $94.16 and has traded between $17.58 and $113.00 over the past year.
- Analyst sentiment remains broadly positive, with a “Moderate Buy” average rating and a $120 price target, although ratings range from “Strong Buy” to “Sell.” Institutional investors own approximately 87.67% of the company’s shares.
Anterix Inc. (NASDAQ:ATEX - Get Free Report) Chairman Thomas Kuhn sold 1,654 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $79.52, for a total value of $131,526.08. Following the completion of the sale, the chairman owned 17,731 shares in the company, valued at approximately $1,409,969.12. This represents a 8.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Anterix Stock Performance
NASDAQ:ATEX opened at $94.16 on Thursday. Anterix Inc. has a one year low of $17.58 and a one year high of $113.00. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 26.90 and a beta of 0.85. The firm's fifty day moving average is $95.10 and its two-hundred day moving average is $64.01.
Anterix (NASDAQ:ATEX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.43) by $0.44. The business had revenue of $1.96 million for the quarter, compared to analysts' expectations of $2.00 million. Anterix had a net margin of 933.03% and a negative return on equity of 10.65%. As a group, equities research analysts predict that Anterix Inc. will post -2 earnings per share for the current fiscal year.
Institutional Trading of Anterix
Institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP grew its position in Anterix by 22.3% during the 4th quarter. GSA Capital Partners LLP now owns 72,976 shares of the company's stock worth $1,593,000 after purchasing an additional 13,324 shares during the last quarter. Kirr Marbach & Co. LLC IN raised its holdings in shares of Anterix by 13.3% in the first quarter. Kirr Marbach & Co. LLC IN now owns 113,814 shares of the company's stock valued at $4,347,000 after buying an additional 13,396 shares during the last quarter. Waterfront Wealth Inc. raised its holdings in shares of Anterix by 23.3% in the first quarter. Waterfront Wealth Inc. now owns 59,955 shares of the company's stock valued at $2,290,000 after buying an additional 11,328 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings 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 buying an additional 99,933 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Anterix by 17.2% during the first 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 during the period. Hedge funds and other institutional investors own 87.67% of the company's stock.
Analysts Set New Price Targets
ATEX has been the subject of a number of research analyst reports. Wall Street Zen cut Anterix from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. B. Riley Financial lowered Anterix from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $44.00 to $69.00 in a research note on Thursday, June 4th. JPMorgan Chase & Co. dropped their price target on 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 Anterix to a "strong-buy" rating in a research note on Monday, July 27th. Finally, Weiss Ratings upgraded Anterix from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $120.00.
Read Our Latest Research Report on ATEX
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.
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