Scott Lang Buys 1,160 Shares of Anterix (NASDAQ:ATEX) Stock

Anterix Inc. (NASDAQ:ATEX) CEO Scott Lang purchased 1,160 shares of the stock in a transaction that occurred on Thursday, December 18th. The stock was purchased at an average price of $21.61 per share, with a total value of $25,067.60. Following the acquisition, the chief executive officer directly owned 8,260 shares of the company’s stock, valued at $178,498.60. This trade represents a 16.34% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Anterix Stock Up 2.2%

Shares of NASDAQ:ATEX opened at $22.10 on Friday. The business’s 50 day moving average is $20.39 and its 200 day moving average is $22.37. The stock has a market cap of $413.71 million, a P/E ratio of 4.32 and a beta of 0.92. Anterix Inc. has a 52-week low of $17.58 and a 52-week high of $42.91.

Anterix (NASDAQ:ATEX) last issued its earnings results on Wednesday, November 12th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.51. Anterix had a negative return on equity of 14.95% and a net margin of 1,614.08%.The business had revenue of $1.55 million during the quarter, compared to analysts’ expectations of $1.43 million. On average, sell-side analysts anticipate that Anterix Inc. will post -1.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Anterix

Several institutional investors have recently bought and sold shares of ATEX. Tower Research Capital LLC TRC grew its holdings in Anterix by 299.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock worth $42,000 after purchasing an additional 1,233 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Anterix in the 2nd quarter worth $48,000. Quantbot Technologies LP purchased a new position in Anterix during the 3rd quarter worth $57,000. BNP Paribas Financial Markets increased its position in Anterix by 119.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock valued at $62,000 after buying an additional 1,308 shares in the last quarter. Finally, Virtus Advisers LLC acquired a new position in Anterix during the 3rd quarter valued at about $75,000. 87.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Anterix in a research report on Wednesday, October 8th. JPMorgan Chase & Co. decreased their price objective on Anterix from $67.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, October 17th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $50.00.

Anterix Company Profile

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.