Anterix (NASDAQ:ATEX) Reaches New 12-Month Low – Should You Sell?

Anterix Inc. (NASDAQ:ATEX) reached a new 52-week low on Tuesday . The stock traded as low as $28.95 and last traded at $29.22, with a volume of 34903 shares trading hands. The stock had previously closed at $29.66.

Wall Street Analyst Weigh In

Separately, Craig Hallum upgraded Anterix to a “strong-buy” rating in a research note on Wednesday, October 9th.

Anterix Price Performance

The company has a 50-day moving average of $32.67 and a two-hundred day moving average of $35.54. The company has a market capitalization of $553.70 million, a PE ratio of -14.72 and a beta of 0.87.

Insider Activity at Anterix

In other Anterix news, Director Mark Fleischhauer purchased 3,500 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was acquired at an average cost of $34.19 per share, for a total transaction of $119,665.00. Following the purchase, the director now directly owns 3,500 shares of the company’s stock, valued at $119,665. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Leslie B. Daniels acquired 2,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were purchased at an average price of $32.75 per share, with a total value of $65,500.00. Following the transaction, the director now owns 2,000 shares of the company’s stock, valued at approximately $65,500. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 45.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ATEX. FMR LLC increased its position in Anterix by 76.4% during the third quarter. FMR LLC now owns 250,955 shares of the company’s stock valued at $9,451,000 after acquiring an additional 108,683 shares during the last quarter. Gabelli Funds LLC boosted its stake in shares of Anterix by 4.7% during the 2nd quarter. Gabelli Funds LLC now owns 140,422 shares of the company’s stock worth $5,559,000 after purchasing an additional 6,322 shares during the period. Jane Street Group LLC grew its holdings in Anterix by 78.2% during the 3rd quarter. Jane Street Group LLC now owns 128,892 shares of the company’s stock valued at $4,854,000 after purchasing an additional 56,559 shares during the last quarter. Marshall Wace LLP raised its position in Anterix by 250.2% in the 2nd quarter. Marshall Wace LLP now owns 58,652 shares of the company’s stock worth $2,322,000 after purchasing an additional 41,905 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Anterix by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 50,605 shares of the company’s stock worth $2,003,000 after purchasing an additional 3,752 shares during the last quarter. 87.67% of the stock is owned by hedge funds and other institutional investors.

Anterix Company Profile

Anterix Inc operates as a wireless communications company. The company focuses on commercializing its spectrum assets to enable the targeted utility and critical infrastructure customers to deploy private broadband networks and innovative broadband solutions. It holds licensed spectrum in the 900 MHz band with coverage throughout the United States, Alaska, Hawaii, and Puerto Rico.