JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Anterix (NASDAQ:ATEX) Stock

Anterix (NASDAQ:ATEX) had its target price hoisted by equities research analysts at JPMorgan Chase & Co. from $50.00 to $133.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 25.69% from the company’s current price.

A number of other equities research analysts also recently issued reports on ATEX. Wall Street Zen upgraded shares of Anterix from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. B. Riley Financial downgraded shares of Anterix from a “buy” rating to a “neutral” rating and upped their price target for the stock from $44.00 to $69.00 in a report on Thursday, June 4th. Finally, Weiss Ratings upgraded shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Anterix currently has a consensus rating of “Hold” and an average price target of $101.00.

Anterix Stock Performance

ATEX opened at $105.82 on Monday. The firm has a market cap of $2.06 billion, a P/E ratio of 21.86 and a beta of 0.83. Anterix has a 52-week low of $17.58 and a 52-week high of $113.00. The business’s fifty day moving average is $80.64 and its 200-day moving average is $51.29.

Insiders Place Their Bets

In other Anterix news, insider Christopher Guttman-Mccabe sold 91,437 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $82.46, for a total transaction of $7,539,895.02. Following the completion of the transaction, the insider owned 77,807 shares of the company’s stock, valued at approximately $6,415,965.22. The trade was a 54.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Fleischhauer sold 3,500 shares of the stock in a transaction dated 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 directly owned 12,769 shares of the company’s stock, valued at $1,019,349.27. This trade represents a 21.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 124,109 shares of company stock valued at $10,174,158 over the last ninety days. 40.05% of the stock is owned by insiders.

Institutional Investors Weigh In On Anterix

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC increased its position in 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. Bank of America Corp DE boosted its position in Anterix by 17.2% in the first quarter. Bank of America Corp DE now owns 167,781 shares of the company’s stock valued at $6,408,000 after buying an additional 24,657 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Anterix by 151.2% during the first quarter. Royal Bank of Canada now owns 3,034 shares of the company’s stock worth $116,000 after buying an additional 1,826 shares during the last quarter. Quantinno Capital Management LP grew its stake in shares of Anterix by 64.6% during the first quarter. Quantinno Capital Management LP now owns 15,619 shares of the company’s stock worth $596,000 after buying an additional 6,132 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in shares of Anterix by 0.8% during the first quarter. Gamco Investors INC. ET AL now owns 425,820 shares of the company’s stock worth $16,262,000 after buying an additional 3,350 shares during the last quarter. 87.67% of the stock is owned by institutional investors.

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.