Scott Lang Sells 170 Shares of Anterix (NASDAQ:ATEX) Stock

Anterix Inc. (NASDAQ:ATEX) CEO Scott Lang sold 170 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $80.25, for a total transaction of $13,642.50. Following the transaction, the chief executive officer directly owned 76,527 shares of the company’s stock, valued at $6,141,291.75. This trade represents a 0.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Anterix Price Performance

Shares of Anterix stock traded up $2.49 during trading on Monday, reaching $77.02. 454,187 shares of the stock traded hands, compared to its average volume of 390,913. Anterix Inc. has a 52-week low of $17.58 and a 52-week high of $88.12. The business has a fifty day simple moving average of $57.36 and a two-hundred day simple moving average of $39.40. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 15.91 and a beta of 0.95.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ATEX. Weiss Ratings raised Anterix from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, April 21st. B. Riley Financial lowered shares of Anterix from a “buy” rating to a “neutral” rating and raised their target price for the company from $44.00 to $69.00 in a report on Thursday, June 4th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $59.50.

Institutional Trading of Anterix

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new position in Anterix in the fourth quarter worth about $1,059,000. GABELLI & Co INVESTMENT ADVISERS INC. raised its position in Anterix by 219.3% during the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 52,200 shares of the company’s stock valued at $1,121,000 after purchasing an additional 35,850 shares during the period. Gamco Investors INC. ET AL raised its position in Anterix by 17.1% during the third quarter. Gamco Investors INC. ET AL now owns 320,070 shares of the company’s stock valued at $6,872,000 after purchasing an additional 46,645 shares during the period. GSA Capital Partners LLP lifted its stake in shares of Anterix by 22.3% in the 4th quarter. GSA Capital Partners LLP now owns 72,976 shares of the company’s stock valued at $1,593,000 after purchasing an additional 13,324 shares during the last quarter. Finally, Gabelli Funds LLC lifted its stake in shares of Anterix by 52.2% in the 3rd quarter. Gabelli Funds LLC now owns 286,282 shares of the company’s stock valued at $6,146,000 after purchasing an additional 98,130 shares during the last quarter. 87.67% of the stock is currently owned by hedge funds and other institutional investors.

About Anterix

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.