Anterix (NASDAQ:ATEX) Upgraded at Clear Str

Clear Str upgraded shares of Anterix (NASDAQ:ATEX) to a strong-buy rating in a research note released on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. upped 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. B. Riley Financial lowered shares of Anterix from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $44.00 to $69.00 in a research report on Thursday, June 4th. Wall Street Zen raised shares of Anterix from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Weiss Ratings upgraded shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 26th. 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 company currently has a consensus rating of “Moderate Buy” and an average price target of $101.00.

Anterix Trading Down 3.5%

Shares of ATEX opened at $88.20 on Monday. The firm has a market cap of $1.72 billion, a P/E ratio of 18.22 and a beta of 0.83. Anterix has a 12 month low of $17.58 and a 12 month high of $113.00. The stock’s 50 day moving average is $85.20 and its two-hundred day moving average is $54.37.

Insider Activity

In other Anterix news, insider Christopher Guttman-Mccabe sold 91,437 shares of Anterix stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $82.46, for a total transaction of $7,539,895.02. Following the completion of the sale, the insider directly owned 77,807 shares in the company, valued at $6,415,965.22. This trade represents a 54.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Fleischhauer sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $79.83, for a total transaction of $279,405.00. Following the completion of the transaction, the director 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. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 124,109 shares of company stock worth $10,174,158. 40.05% of the stock is currently owned by corporate insiders.

Institutional Trading of Anterix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ATEX. Jefferies Financial Group Inc. purchased a new position in shares of Anterix during the fourth quarter worth $9,922,000. Millennium Management LLC raised 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 buying an additional 404,838 shares during the period. Beartown Capital Management LLC purchased a new stake in shares of Anterix in the 4th quarter valued at $3,165,000. Gamco Investors INC. ET AL lifted its stake in Anterix by 32.0% during the 4th quarter. Gamco Investors INC. ET AL now owns 422,470 shares of the company’s stock worth $9,223,000 after acquiring an additional 102,400 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Anterix by 30.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 424,856 shares of the company’s stock worth $16,223,000 after acquiring an additional 99,933 shares in the last quarter. Hedge funds and other 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.