Key Points
- Anterix CEO Scott Lang sold 15,000 shares at an average price of $80, generating $1.2 million and reducing his direct stake by 36.17% to 26,470 shares.
- Anterix shares opened at $85.24, with a $1.67 billion market capitalization and a 52-week range of $17.58 to $113.00. The company’s latest quarterly EPS of $0.01 exceeded analyst expectations, though revenue slightly missed estimates.
- Analyst sentiment remains generally positive, with a “Moderate Buy” consensus and an average price target of $120, while institutional investors and hedge funds own 87.67% of the stock.
Anterix Inc. (NASDAQ:ATEX - Get Free Report) CEO Scott Lang sold 15,000 shares of the stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $80.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the chief executive officer directly owned 26,470 shares in the company, valued at approximately $2,117,600. This trade represents a 36.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Anterix Stock Up 1.9%
Shares of NASDAQ:ATEX opened at $85.24 on Wednesday. The company has a market cap of $1.67 billion, a PE ratio of 24.35 and a beta of 0.84. The company's 50-day moving average price is $91.04 and its 200 day moving average price is $70.77. Anterix Inc. has a fifty-two week low of $17.58 and a fifty-two week high of $113.00.
Anterix (NASDAQ:ATEX - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported $0.01 EPS 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. As a group, equities analysts anticipate that Anterix Inc. will post -2 EPS for the current year.
Analyst Ratings Changes
ATEX has been the topic of several analyst reports. Wall Street Zen cut Anterix from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. DA Davidson set a $161.00 price target on Anterix in a research report on Friday, August 21st. Clear Str raised Anterix to a "strong-buy" rating in a research note on Monday, July 27th. JPMorgan Chase & Co. lowered their price target on Anterix from $133.00 to $130.00 and set an "overweight" rating on the stock in a report on Thursday, August 13th. Finally, B. Riley Financial cut shares of 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 research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $120.00.
Get Our Latest Report on ATEX
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC acquired a new stake in shares of Anterix in the second quarter worth $35,000. Parallel Advisors LLC raised its stake in Anterix by 63.7% during the 1st quarter. Parallel Advisors LLC now owns 933 shares of the company's stock valued at $36,000 after purchasing an additional 363 shares during the last quarter. Fifth Third Bancorp bought a new stake in Anterix in the 1st quarter valued at $64,000. Royal Bank of Canada boosted its holdings in Anterix by 151.2% in the 1st quarter. Royal Bank of Canada now owns 3,034 shares of the company's stock valued at $116,000 after purchasing an additional 1,826 shares during the period. Finally, Legal & General Group Plc acquired a new stake in Anterix in the 2nd quarter worth $222,000. Institutional investors and hedge funds own 87.67% of the company's stock.
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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