Anterix (NASDAQ:ATEX) Shares Gap Up to $31.02

Anterix Inc. (NASDAQ:ATEX) shares gapped up prior to trading on Thursday . The stock had previously closed at $31.02, but opened at $34.00. Anterix shares last traded at $36.90, with a volume of 73,562 shares.

Analysts Set New Price Targets

Separately, TheStreet raised shares of Anterix from a “d+” rating to a “c-” rating in a research note on Wednesday, February 28th.

Anterix Trading Up 17.3 %

The stock’s fifty day moving average price is $32.03 and its 200-day moving average price is $33.06. The firm has a market cap of $674.13 million, a price-to-earnings ratio of 43.93 and a beta of 0.81.

Anterix (NASDAQ:ATEX) last posted its earnings results on Wednesday, June 26th. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.27). Anterix had a net margin of 447.16% and a negative return on equity of 17.22%. The company had revenue of $1.26 million during the quarter, compared to analyst estimates of $1.52 million. Analysts predict that Anterix Inc. will post -0.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Timothy Gray sold 16,667 shares of Anterix stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $31.91, for a total transaction of $531,843.97. Following the completion of the sale, the chief financial officer now directly owns 90,475 shares of the company’s stock, valued at approximately $2,887,057.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 31.71% of the company’s stock.

Institutional Investors Weigh In On Anterix

Several institutional investors have recently modified their holdings of the company. Kirr Marbach & Co. LLC IN lifted its position in Anterix by 54.2% in the fourth quarter. Kirr Marbach & Co. LLC IN now owns 97,985 shares of the company’s stock valued at $3,265,000 after acquiring an additional 34,425 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in Anterix in the third quarter valued at $687,000. Trexquant Investment LP purchased a new stake in Anterix in the third quarter valued at $1,000,000. Tower Research Capital LLC TRC lifted its position in Anterix by 1,843.5% in the third quarter. Tower Research Capital LLC TRC now owns 11,700 shares of the company’s stock valued at $367,000 after acquiring an additional 11,098 shares during the last quarter. Finally, Gabelli Funds LLC lifted its position in Anterix by 4.3% in the fourth quarter. Gabelli Funds LLC now owns 135,100 shares of the company’s stock valued at $4,502,000 after acquiring an additional 5,600 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.