Anterix (NASDAQ:ATEX) Price Target Raised to $133.00 at JPMorgan Chase & Co.

Anterix (NASDAQ:ATEX) had its price objective lifted by JPMorgan Chase & Co. from $50.00 to $133.00 in a research report sent to investors on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other brokerages have also commented on ATEX. Wall Street Zen raised shares of Anterix from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. B. Riley Financial downgraded shares of Anterix from a “buy” rating to a “neutral” rating and raised their target price for the company from $44.00 to $69.00 in a research report on Thursday, June 4th. Finally, Weiss Ratings upgraded shares of Anterix from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Anterix currently has an average rating of “Hold” and an average price target of $101.00.

Anterix Stock Up 1.5%

NASDAQ:ATEX opened at $101.90 on Monday. Anterix has a twelve month low of $17.58 and a twelve month high of $113.00. The business has a 50 day moving average price of $79.61 and a two-hundred day moving average price of $50.70. The company has a market cap of $1.99 billion, a P/E ratio of 21.05 and a beta of 0.83.

Insider Transactions at Anterix

In other news, Director Mahvash Yazdi sold 7,000 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $80.00, for a total value of $560,000.00. Following the completion of the sale, the director owned 19,407 shares of the company’s stock, valued at approximately $1,552,560. This represents a 26.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gena L. Ashe sold 17,711 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $81.31, for a total transaction of $1,440,081.41. Following the completion of the transaction, the insider directly owned 9,531 shares of the company’s stock, valued at $774,965.61. This represents a 65.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 124,109 shares of company stock valued at $10,174,158. 40.05% of the stock is owned by insiders.

Institutional Trading of Anterix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in shares of Anterix by 16.9% in the 1st quarter. AQR Capital Management LLC now owns 11,489 shares of the company’s stock valued at $420,000 after acquiring an additional 1,659 shares during the period. Millennium Management LLC raised its holdings in shares of Anterix by 50.6% in the 1st quarter. Millennium Management LLC now owns 116,473 shares of the company’s stock valued at $4,263,000 after purchasing an additional 39,143 shares during the period. Goldman Sachs Group Inc. lifted its stake in Anterix by 17.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 124,706 shares of the company’s stock valued at $4,564,000 after purchasing an additional 18,771 shares during the last quarter. Legal & General Group Plc lifted its stake in Anterix by 19.7% in the 2nd quarter. Legal & General Group Plc now owns 11,303 shares of the company’s stock valued at $290,000 after purchasing an additional 1,857 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Anterix by 70.9% during the second quarter. Rhumbline Advisers now owns 27,998 shares of the company’s stock worth $718,000 after purchasing an additional 11,615 shares during the period. 87.67% of the stock is owned by institutional investors.

About Anterix

Anterix, Inc is a specialized telecommunications company focused on delivering private broadband networks for utilities and other critical infrastructure industries. The company owns and operates dedicated 900 MHz spectrum that enables reliable, secure and high-performance wireless communications to support grid modernization, smart metering, distribution automation and other mission-critical applications. By leveraging this spectrum, Anterix helps electric, water and gas utilities deploy advanced communications capabilities to enhance operational efficiency and resiliency.

At the core of Anterix’s offering is its licensed 900 MHz spectrum, which provides superior propagation characteristics compared with unlicensed options and allows for cost-effective coverage over expansive service territories.