Proficio Capital Partners LLC Trims Stake in Anterix Inc. $ATEX

Proficio Capital Partners LLC decreased its position in shares of Anterix Inc. (NASDAQ:ATEX) by 85.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 3,000 shares of the company’s stock after selling 17,000 shares during the period. Proficio Capital Partners LLC’s holdings in Anterix were worth $309,000 at the end of the most recent quarter.

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

Anterix Price Performance

ATEX stock opened at $86.27 on Friday. Anterix Inc. has a 1-year low of $17.58 and a 1-year high of $113.00. The business has a fifty day moving average price of $96.54 and a 200-day moving average price of $66.72. The stock has a market capitalization of $1.69 billion, a P/E ratio of 24.65 and a beta of 0.84.

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

Insider Activity

In other news, CFO Elena Marquez sold 4,291 shares of Anterix stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $79.50, for a total value of $341,134.50. Following the completion of the sale, the chief financial officer directly owned 18,387 shares in the company, valued at $1,461,766.50. The trade was a 18.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mahvash Yazdi sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $80.00, for a total transaction of $560,000.00. Following the transaction, the director directly owned 19,407 shares of the company’s stock, valued at $1,552,560. The trade was a 26.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 205,602 shares of company stock worth $17,540,115. 40.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Clear Str raised Anterix to a “strong-buy” rating in a research note on Monday, July 27th. Wall Street Zen downgraded shares of Anterix from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. B. Riley Financial lowered shares of Anterix from a “buy” rating to a “neutral” rating and raised their price objective for the company from $44.00 to $69.00 in a research note on Thursday, June 4th. JPMorgan Chase & Co. decreased their target price on shares of Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, August 13th. Finally, DA Davidson set a $161.00 target price on shares of Anterix in a research note on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $120.00.

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.