Christopher Guttman-Mccabe Sells 91,437 Shares of Anterix (NASDAQ:ATEX) Stock

Anterix Inc. (NASDAQ:ATEX) insider Christopher Guttman-Mccabe sold 91,437 shares of Anterix stock in a transaction that occurred on 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 sale, the insider directly owned 77,807 shares in the company, valued at approximately $6,415,965.22. The trade was a 54.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Anterix Stock Performance

Shares of Anterix stock opened at $74.53 on Friday. The stock has a 50 day moving average of $56.70 and a 200 day moving average of $39.02. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 15.40 and a beta of 0.95. Anterix Inc. has a fifty-two week low of $17.58 and a fifty-two week high of $88.12.

Wall Street Analysts Forecast Growth

ATEX has been the subject of a number of research analyst reports. Weiss Ratings upgraded Anterix from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, April 21st. B. Riley Financial lowered shares of Anterix from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $44.00 to $69.00 in a report on Thursday, June 4th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $59.50.

Institutional Investors Weigh In On Anterix

A number of hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its stake in shares of Anterix by 16.9% in the first quarter. AQR Capital Management LLC now owns 11,489 shares of the company’s stock worth $420,000 after acquiring an additional 1,659 shares in the last quarter. Millennium Management LLC raised its stake in shares of Anterix by 50.6% in the first quarter. Millennium Management LLC now owns 116,473 shares of the company’s stock valued at $4,263,000 after acquiring an additional 39,143 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Anterix by 17.7% in the first quarter. Goldman Sachs Group Inc. now owns 124,706 shares of the company’s stock valued at $4,564,000 after acquiring an additional 18,771 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Anterix by 19.7% in the second quarter. Legal & General Group Plc now owns 11,303 shares of the company’s stock valued at $290,000 after acquiring an additional 1,857 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Anterix by 70.9% in the second quarter. Rhumbline Advisers now owns 27,998 shares of the company’s stock valued at $718,000 after purchasing an additional 11,615 shares during the period. 87.67% of the stock is currently owned by institutional investors and hedge funds.

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.