Zacks: Brokerages Anticipate Anterix Inc. (NASDAQ:ATEX) Will Post Quarterly Sales of $520,000.00

Wall Street analysts expect Anterix Inc. (NASDAQ:ATEXGet Rating) to announce $520,000.00 in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Anterix’s earnings, with the highest sales estimate coming in at $800,000.00 and the lowest estimate coming in at $370,000.00. Anterix posted sales of $180,000.00 during the same quarter last year, which suggests a positive year-over-year growth rate of 188.9%. The company is scheduled to report its next earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Anterix will report full-year sales of $1.27 million for the current financial year, with estimates ranging from $1.12 million to $1.55 million. For the next fiscal year, analysts forecast that the business will report sales of $5.78 million, with estimates ranging from $3.02 million to $7.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Anterix.

A number of analysts recently weighed in on the stock. TheStreet cut shares of Anterix from a “c-” rating to a “d+” rating in a research report on Thursday, February 3rd. Morgan Stanley decreased their target price on Anterix from $65.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, February 10th. Finally, Zacks Investment Research downgraded Anterix from a “hold” rating to a “sell” rating in a report on Wednesday, April 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $63.00.

Anterix stock opened at $45.00 on Tuesday. The firm has a fifty day moving average of $54.42 and a 200-day moving average of $55.80. Anterix has a 52-week low of $43.22 and a 52-week high of $66.55. The firm has a market capitalization of $826.88 million, a P/E ratio of -16.98 and a beta of 0.52.

In other Anterix news, Chairman Morgan E. Obrien sold 25,000 shares of the business’s stock in a transaction on Tuesday, March 15th. The shares were sold at an average price of $56.02, for a total value of $1,400,500.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 4.05% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. O Brien Greene & Co. Inc grew its holdings in Anterix by 5.5% during the 1st quarter. O Brien Greene & Co. Inc now owns 19,200 shares of the company’s stock worth $1,112,000 after acquiring an additional 1,000 shares in the last quarter. Gabelli Funds LLC boosted its holdings in Anterix by 3.5% in the first quarter. Gabelli Funds LLC now owns 89,000 shares of the company’s stock worth $5,153,000 after purchasing an additional 3,000 shares during the period. Gamco Investors INC. ET AL boosted its holdings in shares of Anterix by 32.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 6,600 shares of the company’s stock valued at $382,000 after buying an additional 1,600 shares during the period. PenderFund Capital Management Ltd. grew its position in shares of Anterix by 13,957.1% during the 1st quarter. PenderFund Capital Management Ltd. now owns 98,400 shares of the company’s stock valued at $7,123,000 after buying an additional 97,700 shares during the last quarter. Finally, QVT Financial LP boosted its stake in Anterix by 2.3% in the first quarter. QVT Financial LP now owns 446,666 shares of the company’s stock valued at $25,862,000 after acquiring an additional 10,000 shares during the period. 82.68% of the stock is currently owned by institutional investors.

About Anterix (Get Rating)

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, technologies, and solutions. It holds licensed spectrum in the 900 MHz band with nationwide coverage throughout the United States, Alaska, Hawaii, and Puerto Rico.

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