Anterix (NASDAQ:ATEX) Upgraded to “Sell” by BidaskClub

BidaskClub upgraded shares of Anterix (NASDAQ:ATEX) from a strong sell rating to a sell rating in a report issued on Thursday morning, BidAskClub reports.

ATEX has been the topic of a number of other reports. B. Riley upped their price target on Anterix from $59.00 to $75.00 and gave the company a buy rating in a report on Friday, May 22nd. Zacks Investment Research downgraded Anterix from a hold rating to a sell rating in a report on Monday, June 29th. Morgan Stanley lowered their target price on Anterix from $51.00 to $50.00 and set an equal weight rating on the stock in a report on Wednesday, July 1st. Finally, Craig Hallum increased their target price on Anterix from $80.00 to $100.00 and gave the company a buy rating in a report on Monday, June 29th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $69.40.

Shares of NASDAQ:ATEX opened at $39.22 on Thursday. Anterix has a 1 year low of $29.38 and a 1 year high of $57.75. The stock’s fifty day moving average price is $43.73 and its 200-day moving average price is $46.60.

Anterix (NASDAQ:ATEX) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.20). The business had revenue of $0.26 million for the quarter, compared to the consensus estimate of $0.26 million. Anterix had a negative net margin of 3,174.40% and a negative return on equity of 17.41%. On average, research analysts predict that Anterix will post -2.19 earnings per share for the current fiscal year.

In other Anterix news, Chairman Morgan E. Obrien sold 9,347 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $44.71, for a total value of $417,904.37. Following the completion of the sale, the chairman now owns 83,330 shares in the company, valued at $3,725,684.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Brian Mcauley sold 3,246 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $43.38, for a total value of $140,811.48. Following the completion of the sale, the chairman now owns 332,086 shares of the company’s stock, valued at approximately $14,405,890.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,060 shares of company stock valued at $2,371,043. Company insiders own 6.54% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Two Sigma Advisers LP increased its position in Anterix by 229.3% in the second quarter. Two Sigma Advisers LP now owns 55,000 shares of the company’s stock worth $2,494,000 after buying an additional 38,300 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Anterix during the second quarter worth about $7,729,000. Nuveen Asset Management LLC grew its position in shares of Anterix by 31.2% during the second quarter. Nuveen Asset Management LLC now owns 107,044 shares of the company’s stock worth $4,853,000 after purchasing an additional 25,455 shares in the last quarter. Stephens Inc. AR purchased a new stake in shares of Anterix during the second quarter worth about $363,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Anterix by 12.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 80,099 shares of the company’s stock worth $3,632,000 after purchasing an additional 8,646 shares in the last quarter. Institutional investors and hedge funds own 93.96% of the company’s stock.

About Anterix

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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