Brokerages Set Anterix Inc. (NASDAQ:ATEX) Price Target at $120.00

Shares of Anterix Inc. (NASDAQ:ATEX) have earned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $120.00.

A number of research firms have recently weighed in on ATEX. 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 note on Friday, August 21st. B. Riley Financial downgraded Anterix from a “buy” rating to a “neutral” rating and raised their price target for the stock from $44.00 to $69.00 in a report on Thursday, June 4th. JPMorgan Chase & Co. dropped their price target on Anterix from $133.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, August 13th. Finally, Clear Str upgraded shares of Anterix to a “strong-buy” rating in a report on Monday, July 27th.

Anterix Price Performance

NASDAQ ATEX opened at $92.33 on Monday. The firm has a market cap of $1.81 billion, a PE ratio of 26.38 and a beta of 0.85. The company has a 50 day moving average price of $95.86 and a 200 day moving average price of $64.93. Anterix has a 52 week low of $17.58 and a 52 week high of $113.00.

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

Insider Buying and Selling at Anterix

In related news, Director Mahvash Yazdi sold 7,000 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $80.00, for a total value of $560,000.00. Following the transaction, the director directly owned 19,407 shares of the company’s stock, valued at $1,552,560. This represents a 26.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Heard sold 46,400 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $90.11, for a total value of $4,181,104.00. Following the completion of the transaction, the director owned 1,670,338 shares of the company’s stock, valued at $150,514,157.18. This trade represents a 2.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 205,602 shares of company stock worth $17,540,115 in the last three months. 40.05% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ATEX. BlackRock Inc. acquired a new stake in shares of Anterix during the second quarter worth about $110,672,000. Jupiter Topco LLC acquired a new stake in Anterix during the 2nd quarter valued at approximately $68,189,000. Jefferies Financial Group Inc. acquired a new stake in Anterix during the 4th quarter valued at approximately $9,922,000. Millennium Management LLC boosted its holdings in shares of Anterix by 1,153.1% in the 4th quarter. Millennium Management LLC now owns 439,946 shares of the company’s stock valued at $9,604,000 after acquiring an additional 404,838 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of Anterix by 0.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 425,820 shares of the company’s stock valued at $16,262,000 after acquiring an additional 3,350 shares during the last quarter. 87.67% of the stock is currently owned by hedge funds and other institutional investors.

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.