Anterix (NASDAQ:ATEX) Upgraded at B. Riley Financial

B. Riley Financial upgraded shares of Anterix (NASDAQ:ATEX) from a neutral rating to a buy rating in a research note released on Thursday morning, MarketBeat Ratings reports. The brokerage currently has $103.00 price objective on the stock, up from their prior price objective of $86.00.

Several other research firms have also commented on ATEX. Clear Str raised shares of Anterix to a “strong-buy” rating in a report on Monday, July 27th. JPMorgan Chase & Co. lowered their price objective on shares of Anterix from $133.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, August 13th. Weiss Ratings lowered shares of Anterix from a “hold (c)” rating to a “sell (d+)” rating in a research note on Wednesday. Wall Street Zen cut shares of Anterix from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, DA Davidson set a $161.00 target price on shares of Anterix in a report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.33.

Anterix Price Performance

ATEX traded down $2.55 during trading hours on Thursday, hitting $80.14. 199,415 shares of the stock were exchanged, compared to its average volume of 288,769. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 205.49 and a beta of 0.87. The stock has a 50-day simple moving average of $81.08 and a 200-day simple moving average of $67.79. Anterix has a 12 month low of $19.47 and a 12 month high of $113.00.

Anterix (NASDAQ:ATEX) last released its earnings results on Tuesday, November 10th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.05. The firm had revenue of $1.96 million during the quarter, compared to analyst estimates of $2.05 million. Anterix had a net margin of 96.23% and a negative return on equity of 11.07%. Sell-side analysts expect that Anterix will post -2.00 EPS for the current year.

Insider Buying and Selling

In other news, insider Gena L. Ashe sold 4,357 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $85.44, for a total transaction of $372,262.08. Following the completion of the transaction, the insider owned 5,174 shares in the company, valued at approximately $442,066.56. This represents a 45.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott A. Lang sold 15,000 shares of the stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $80.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the chief executive officer directly owned 26,470 shares in the company, valued at approximately $2,117,600. This trade represents a 36.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 78,441 shares of company stock valued at $6,794,661 in the last three months. 40.05% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. increased its position in Anterix by 4.0% during the third quarter. Russell Investments Group Ltd. now owns 3,609 shares of the company’s stock worth $283,000 after acquiring an additional 138 shares during the period. Commonwealth Equity Services LLC raised its stake in Anterix by 8.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 2,700 shares of the company’s stock valued at $212,000 after purchasing an additional 199 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Anterix in the 2nd quarter valued at $35,000. State of Wyoming bought a new stake in Anterix in the 3rd quarter valued at $27,000. Finally, Sterling Capital Management LLC grew its position in Anterix by 850.0% in the 3rd quarter. Sterling Capital Management LLC now owns 380 shares of the company’s stock worth $30,000 after purchasing an additional 340 shares during the last quarter. Institutional investors own 87.67% of the company’s stock.

About Anterix

Anterix Inc. provides licensed wireless spectrum for private broadband networks, primarily serving electric, gas and water utilities and other critical-infrastructure organizations. Its business focuses on making 900 MHz spectrum available to customers that want dedicated communications networks for operational needs such as grid monitoring, automation and resilience. The company’s spectrum holdings cover areas across the United States. Anterix works with utilities and technology partners to support the development of private LTE networks, offering spectrum access and related planning and ecosystem support rather than operating a public mobile network.