Anterix (NASDAQ:ATEX) Shares Up 6.3% After Insider Buying Activity

Shares of Anterix Inc (NASDAQ:ATEX) shot up 6.3% during trading on Friday following insider buying activity. The company traded as high as $41.30 and last traded at $41.00, 216,200 shares were traded during mid-day trading. An increase of 128% from the average session volume of 94,980 shares. The stock had previously closed at $38.57.

Specifically, major shareholder Stephen Feinberg sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $43.50, for a total transaction of $43,500,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Owl Creek Asset Management, L. purchased 26,439 shares of the stock in a transaction on Thursday, October 10th. The shares were purchased at an average price of $38.57 per share, with a total value of $1,019,752.23. In the last 90 days, insiders have acquired 1,350,166 shares of company stock valued at $59,122,199. Company insiders own 6.74% of the company’s stock.

Several analysts have recently weighed in on the stock. B. Riley set a $59.00 price objective on shares of Anterix and gave the company a “buy” rating in a research note on Friday, August 16th. Zacks Investment Research upgraded shares of Anterix from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Finally, Evercore ISI assumed coverage on shares of Anterix in a research note on Friday, August 9th. They issued an “outperform” rating and a $61.00 price objective for the company. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $64.00.

The firm’s 50 day moving average price is $38.73 and its two-hundred day moving average price is $42.91. The company has a debt-to-equity ratio of 0.05, a current ratio of 8.51 and a quick ratio of 8.51.

Anterix (NASDAQ:ATEX) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.66) by $0.03. The company had revenue of $0.45 million during the quarter, compared to analyst estimates of $0.79 million. Anterix had a negative net margin of 769.30% and a negative return on equity of 19.16%. On average, analysts expect that Anterix Inc will post -2.59 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in ATEX. Lomas Capital Management LLC bought a new stake in shares of Anterix in the 2nd quarter valued at $67,174,000. BlackRock Inc. acquired a new stake in Anterix in the 2nd quarter valued at $31,107,000. Vanguard Group Inc. acquired a new stake in Anterix in the 2nd quarter valued at $29,277,000. Northern Trust Corp acquired a new stake in Anterix in the 2nd quarter valued at $5,889,000. Finally, Roubaix Capital LLC acquired a new stake in Anterix in the 3rd quarter valued at $3,303,000. Institutional investors own 90.43% of the company’s stock.

About Anterix (NASDAQ:ATEX)

Anterix Inc operates as a wireless communications company. The company focuses on enabling private broadband connectivity for critical infrastructure and enterprise businesses. It holds licensed spectrum in the 900 MHz band with nationwide coverage throughout the United States, Hawaii, Alaska, and Puerto Rico.

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