Anterix (NASDAQ:ATEX) Insider Gena Ashe Sells 17,711 Shares of Stock

Anterix Inc. (NASDAQ:ATEX) insider Gena Ashe sold 17,711 shares of Anterix stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $81.31, for a total value of $1,440,081.41. Following the completion of the sale, the insider directly owned 9,531 shares in the company, valued at approximately $774,965.61. This represents a 65.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Anterix Stock Performance

NASDAQ ATEX opened at $79.16 on Thursday. Anterix Inc. has a 52 week low of $17.58 and a 52 week high of $88.12. The stock’s 50 day moving average price is $56.03 and its two-hundred day moving average price is $38.64. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 16.36 and a beta of 0.95.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC raised its stake in shares of Anterix by 63.7% during the 1st 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. grew its stake in shares of Anterix by 12.4% in the second 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Anterix by 17.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,084 shares of the company’s stock worth $182,000 after buying an additional 1,029 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Anterix by 299.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock worth $42,000 after buying an additional 1,233 shares during the last quarter. Institutional investors and hedge funds own 87.67% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ATEX. B. Riley Financial downgraded 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 research report on Thursday, June 4th. Weiss Ratings raised shares of Anterix from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Anterix currently has a consensus rating of “Hold” and a consensus target price of $59.50.

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.