Key Points
- Anterix Director Leslie Daniels sold 4,100 shares at an average price of $87.07, generating $356,987. Following the sale, Daniels retained 45,977 shares, an 8.19% reduction in ownership.
- Anterix reported quarterly earnings of $0.01 per share, exceeding the consensus estimate of a $0.43 loss, while revenue of $1.96 million was slightly below expectations.
- Institutional investors own 87.67% of Anterix, and analysts maintain a “Moderate Buy” consensus rating with an average price target of $120, despite mixed individual ratings.
Anterix Inc. (NASDAQ:ATEX - Get Free Report) Director Leslie Daniels sold 4,100 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $87.07, for a total transaction of $356,987.00. Following the transaction, the director owned 45,977 shares in the company, valued at approximately $4,003,217.39. The trade was a 8.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Anterix Stock Performance
NASDAQ ATEX opened at $85.44 on Wednesday. Anterix Inc. has a one year low of $17.58 and a one year high of $113.00. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 24.41 and a beta of 0.84. The company's 50-day simple moving average is $95.95 and its two-hundred day simple moving average is $67.70.
Anterix (NASDAQ:ATEX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.44. Anterix had a net margin of 933.03% and a negative return on equity of 10.65%. The firm had revenue of $1.96 million during the quarter, compared to analysts' expectations of $2.00 million. Equities analysts expect that Anterix Inc. will post -2 earnings per share for the current fiscal year.
Institutional Trading of Anterix
Several institutional investors and hedge funds have recently bought and sold shares of ATEX. California State Teachers Retirement System boosted its holdings in shares of Anterix by 2,570.8% in the 2nd quarter. California State Teachers Retirement System now owns 16,265 shares of the company's stock valued at $1,674,000 after acquiring an additional 15,656 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Anterix during the second quarter worth $3,192,000. Proficio Capital Partners LLC acquired a new position in Anterix during the second quarter valued at $309,000. Panoramic Capital LLC acquired a new position in Anterix during the second quarter valued at $15,892,000. Finally, Bank of America Corp DE purchased a new stake in Anterix in the second quarter valued at $13,865,000. 87.67% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
ATEX has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on Anterix from $133.00 to $130.00 and set an "overweight" rating for the company in a report on Thursday, August 13th. DA Davidson set a $161.00 price target on Anterix in a research report on Friday, August 21st. Clear Str upgraded Anterix to a "strong-buy" rating in a research note on Monday, July 27th. Weiss Ratings raised Anterix from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, June 26th. Finally, B. Riley Financial downgraded Anterix from a "buy" rating to a "neutral" rating and raised their price objective for the company from $44.00 to $69.00 in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Anterix presently has an average rating of "Moderate Buy" and an average target price of $120.00.
Check Out Our Latest Stock Report on Anterix
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.
Further Reading
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].
