Anterix (NASDAQ:ATEX) Downgraded to Strong Sell at BidaskClub

BidaskClub cut shares of Anterix (NASDAQ:ATEX) from a sell rating to a strong sell rating in a report released on Saturday, BidAskClub reports.

A number of other brokerages have also issued reports on ATEX. B. Riley boosted their target price on Anterix from $59.00 to $75.00 and gave the company a buy rating in a research report on Friday, May 22nd. Zacks Investment Research lowered Anterix from a hold rating to a sell rating in a research report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $68.17.

ATEX opened at $45.34 on Friday. Anterix has a one year low of $29.38 and a one year high of $57.75. The stock has a market capitalization of $777.92 million, a PE ratio of -20.06 and a beta of 0.36. The business’s 50 day moving average price is $53.15 and its 200 day moving average price is $47.46. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.11 and a current ratio of 16.11.

Anterix (NASDAQ:ATEX) last released its quarterly earnings data on Thursday, May 28th. The company reported ($0.68) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.16). Anterix had a negative net margin of 2,406.52% and a negative return on equity of 16.06%. As a group, equities research analysts forecast that Anterix will post -2.16 earnings per share for the current fiscal year.

In other news, Director Thomas Clark Akers sold 4,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $52.55, for a total transaction of $210,200.00. Following the sale, the director now owns 11,895 shares of the company’s stock, valued at $625,082.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Owl Creek Asset Management, L. acquired 200,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were bought at an average cost of $54.08 per share, for a total transaction of $10,816,000.00. The disclosure for this purchase can be found here. Insiders have sold 12,876 shares of company stock worth $697,544 in the last ninety days. Corporate insiders own 6.74% of the company’s stock.

Several institutional investors have recently bought and sold shares of ATEX. Bain Capital Credit LP purchased a new position in Anterix in the first quarter valued at $30,981,000. Owl Creek Asset Management L.P. increased its holdings in Anterix by 3.4% in the first quarter. Owl Creek Asset Management L.P. now owns 5,017,662 shares of the company’s stock valued at $229,157,000 after buying an additional 166,421 shares during the last quarter. Invesco Ltd. purchased a new position in Anterix in the first quarter valued at $712,000. Precept Management LLC purchased a new position in Anterix in the first quarter valued at $913,000. Finally, Wells Fargo & Company MN increased its holdings in Anterix by 369.9% in the first quarter. Wells Fargo & Company MN now owns 30,278 shares of the company’s stock valued at $1,383,000 after buying an additional 23,835 shares during the last quarter.

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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Analyst Recommendations for Anterix (NASDAQ:ATEX)

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