Anterix (NASDAQ:ATEX) Chairman Thomas Kuhn Sells 10,000 Shares of Stock

Anterix Inc. (NASDAQ:ATEX) Chairman Thomas Kuhn sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $88.85, for a total transaction of $888,500.00. Following the completion of the sale, the chairman directly owned 17,731 shares of the company’s stock, valued at $1,575,399.35. This represents a 36.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Anterix Stock Up 1.7%

Shares of ATEX traded up $1.55 during mid-day trading on Wednesday, hitting $93.92. 241,195 shares of the company’s stock were exchanged, compared to its average volume of 396,041. The firm has a fifty day moving average of $94.80 and a two-hundred day moving average of $63.53. Anterix Inc. has a twelve month low of $17.58 and a twelve month high of $113.00. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of 26.83 and a beta of 0.85.

Anterix (NASDAQ:ATEX) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.44. Anterix had a net margin of 933.03% and a negative return on equity of 10.65%. The business had revenue of $1.96 million for the quarter, compared to the consensus estimate of $2.00 million. On average, equities analysts predict that Anterix Inc. will post -2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Weiss Ratings upgraded Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. DA Davidson set a $161.00 price target on Anterix in a research note on Friday, August 21st. Wall Street Zen lowered Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Clear Str raised Anterix to a “strong-buy” rating in a research note on Monday, July 27th. Finally, B. Riley Financial lowered Anterix from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $44.00 to $69.00 in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.00.

Institutional Investors Weigh In On Anterix

Several hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System lifted its position in Anterix by 2,570.8% in the second quarter. California State Teachers Retirement System now owns 16,265 shares of the company’s stock worth $1,674,000 after purchasing an additional 15,656 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Anterix during the second quarter worth approximately $3,192,000. Proficio Capital Partners LLC acquired a new stake in Anterix during the 2nd quarter valued at $309,000. Panoramic Capital LLC acquired a new stake in shares of Anterix in the second quarter valued at $15,892,000. Finally, Bank of America Corp DE bought a new position in shares of Anterix in the second quarter worth about $13,865,000. Institutional investors own 87.67% of the company’s stock.

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.