FNY Investment Advisers LLC Lowers Stake in Anterix Inc. $ATEX

FNY Investment Advisers LLC lessened its stake in Anterix Inc. (NASDAQ:ATEX) by 96.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 350 shares of the company’s stock after selling 10,871 shares during the period. FNY Investment Advisers LLC’s holdings in Anterix were worth $36,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ATEX. Parallel Advisors LLC lifted its stake in Anterix by 63.7% during the first quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock worth $36,000 after purchasing an additional 363 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Anterix by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 138,677 shares of the company’s stock valued at $3,027,000 after buying an additional 599 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Anterix by 12.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 5,760 shares of the company’s stock valued at $148,000 after buying an additional 637 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Anterix by 17.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,084 shares of the company’s stock valued at $182,000 after buying an additional 1,029 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in Anterix by 299.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock worth $42,000 after acquiring an additional 1,233 shares in the last quarter. Institutional investors and hedge funds own 87.67% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mark Fleischhauer sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $79.83, for a total transaction of $279,405.00. Following the sale, the director directly owned 12,769 shares in the company, valued at approximately $1,019,349.27. This represents a 21.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elena Marquez sold 4,291 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $79.50, for a total transaction of $341,134.50. Following the completion of the sale, the chief financial officer directly owned 18,387 shares in the company, valued at approximately $1,461,766.50. This trade represents a 18.92% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 124,109 shares of company stock worth $10,174,158. Corporate insiders own 40.05% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen raised Anterix from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Clear Str raised shares of Anterix to a “strong-buy” rating in a research note on Monday, July 27th. Weiss Ratings upgraded shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. B. Riley Financial downgraded shares of Anterix from a “buy” rating to a “neutral” rating and upped their target price for the stock from $44.00 to $69.00 in a research note on Thursday, June 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of Anterix from $50.00 to $133.00 and gave the stock an “overweight” rating in a report on Monday, July 20th. One 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.00.

Anterix Price Performance

ATEX opened at $99.26 on Friday. The business has a fifty day moving average price of $90.09 and a 200 day moving average price of $57.80. Anterix Inc. has a 12 month low of $17.58 and a 12 month high of $113.00. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 20.51 and a beta of 0.85.

Anterix 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.