Insider Selling: Anterix (NASDAQ:ATEX) CFO Sells $341,134.50 in Stock

Anterix Inc. (NASDAQ:ATEX) CFO Elena Marquez sold 4,291 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $79.50, for a total transaction of $341,134.50. Following the completion of the transaction, the chief financial officer directly owned 18,387 shares of the company’s stock, valued at $1,461,766.50. This represents a 18.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Anterix Stock Performance

NASDAQ ATEX opened at $74.53 on Friday. The firm’s fifty day moving average price is $57.36 and its two-hundred day moving average price is $39.26. Anterix Inc. has a 1 year low of $17.58 and a 1 year high of $88.12. The firm has a market capitalization of $1.40 billion, a P/E ratio of 15.40 and a beta of 0.95.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ATEX shares. Weiss Ratings upgraded shares of Anterix from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, April 21st. 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 note on Thursday, June 4th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $59.50.

Institutional Investors Weigh In On Anterix

A number of large investors have recently added to or reduced their stakes in ATEX. Parallel Advisors LLC boosted its position in Anterix by 63.7% during the first quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock worth $36,000 after purchasing an additional 363 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Anterix by 299.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,645 shares of the company’s stock valued at $42,000 after purchasing an additional 1,233 shares during the last quarter. Fifth Third Bancorp bought a new position in shares of Anterix in the first quarter valued at about $64,000. BNP Paribas Financial Markets raised its position in shares of Anterix by 119.3% in the second quarter. BNP Paribas Financial Markets now owns 2,404 shares of the company’s stock valued at $62,000 after purchasing an additional 1,308 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Anterix during the 3rd quarter worth about $57,000. 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.