Gabelli Funds LLC Acquires 42,752 Shares of Anterix Inc. $ATEX

Gabelli Funds LLC raised its holdings in Anterix Inc. (NASDAQ:ATEX) by 29.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 188,152 shares of the company’s stock after acquiring an additional 42,752 shares during the period. Gabelli Funds LLC owned approximately 1.01% of Anterix worth $4,826,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Anterix by 1.5% in the first quarter. Vanguard Group Inc. now owns 1,050,022 shares of the company’s stock valued at $38,431,000 after purchasing an additional 15,043 shares in the last quarter. Swiss National Bank increased its holdings in shares of Anterix by 8.8% in the 1st quarter. Swiss National Bank now owns 19,850 shares of the company’s stock worth $727,000 after buying an additional 1,600 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Anterix during the 1st quarter valued at $7,204,000. Russell Investments Group Ltd. lifted its holdings in shares of Anterix by 185.1% during the 1st quarter. Russell Investments Group Ltd. now owns 5,123 shares of the company’s stock worth $188,000 after acquiring an additional 3,326 shares during the last quarter. Finally, Roubaix Capital LLC purchased a new position in Anterix in the first quarter worth $5,918,000. Hedge funds and other institutional investors own 87.67% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ATEX. Weiss Ratings restated a “sell (d+)” rating on shares of Anterix in a research report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price objective on Anterix from $67.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, October 17th. Finally, Wall Street Zen downgraded Anterix from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $50.00.

Anterix Stock Performance

NASDAQ ATEX opened at $21.58 on Wednesday. The stock has a market cap of $403.91 million, a P/E ratio of 4.22 and a beta of 0.92. Anterix Inc. has a fifty-two week low of $17.58 and a fifty-two week high of $42.91. The stock has a 50 day simple moving average of $20.41 and a two-hundred day simple moving average of $22.63.

Anterix (NASDAQ:ATEX) last posted its earnings results on Wednesday, November 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.65) by $0.51. Anterix had a negative return on equity of 14.95% and a net margin of 1,614.08%.The firm had revenue of $1.55 million for the quarter, compared to analysts’ expectations of $1.43 million. Sell-side analysts predict that Anterix Inc. will post -1.53 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Scott A. Lang acquired 4,650 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was acquired at an average cost of $21.28 per share, for a total transaction of $98,952.00. Following the acquisition, the chief executive officer owned 4,650 shares of the company’s stock, valued at $98,952. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gena L. Ashe sold 6,564 shares of Anterix stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $21.07, for a total transaction of $138,303.48. Following the sale, the insider directly owned 13,366 shares in the company, valued at $281,621.62. The trade was a 32.94% decrease in their position. The disclosure for this sale is available in the SEC filing. 45.61% of the stock is currently owned by insiders.

About Anterix

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.