Anterix (NASDAQ:ATEX) Downgraded to Strong Sell at BidaskClub

BidaskClub lowered shares of Anterix (NASDAQ:ATEX) from a sell rating to a strong sell rating in a report issued on Saturday morning, BidAskClub reports.

ATEX has been the topic of several other reports. B. Riley raised their price objective on Anterix from $59.00 to $75.00 and gave the stock a buy rating in a report on Friday, May 22nd. Zacks Investment Research downgraded Anterix from a hold rating to a sell rating in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Anterix currently has an average rating of Hold and a consensus target price of $68.17.

Shares of NASDAQ ATEX opened at $45.34 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.11 and a current ratio of 16.11. The business’s 50 day moving average price is $53.15 and its 200-day moving average price is $47.46. Anterix has a fifty-two week low of $29.38 and a fifty-two week high of $57.75. The company has a market cap of $777.92 million, a price-to-earnings ratio of -20.06 and a beta of 0.36.

Anterix (NASDAQ:ATEX) last released its quarterly earnings data on Thursday, May 28th. The company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.16). Anterix had a negative return on equity of 16.06% and a negative net margin of 2,406.52%. Sell-side analysts predict that Anterix will post -2.16 earnings per share for the current year.

In other news, insider Elaine Gangeri sold 604 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $52.76, for a total value of $31,867.04. Following the completion of the sale, the insider now owns 31,154 shares of the company’s stock, valued at approximately $1,643,685.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Owl Creek Asset Management, L. acquired 200,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of $54.08 per share, with a total value of $10,816,000.00. The disclosure for this purchase can be found here. Insiders have sold a total of 12,876 shares of company stock worth $697,544 in the last ninety days. Insiders own 6.74% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Bain Capital Credit LP acquired a new stake in shares of Anterix in the 1st quarter worth $30,981,000. Owl Creek Asset Management L.P. boosted its position in shares of Anterix by 3.4% in the 1st quarter. Owl Creek Asset Management L.P. now owns 5,017,662 shares of the company’s stock worth $229,157,000 after purchasing an additional 166,421 shares in the last quarter. Invesco Ltd. acquired a new stake in shares of Anterix in the 1st quarter worth $712,000. Precept Management LLC acquired a new stake in shares of Anterix in the 1st quarter worth $913,000. Finally, Wells Fargo & Company MN boosted its position in shares of Anterix by 369.9% in the 1st quarter. Wells Fargo & Company MN now owns 30,278 shares of the company’s stock worth $1,383,000 after purchasing an additional 23,835 shares in the last quarter.

Anterix Company Profile

Anterix Inc operates as a wireless communications company. The company focuses on enabling private broadband connectivity for critical infrastructure and enterprise businesses. It holds licensed spectrum in the 900 MHz band with nationwide coverage throughout the United States, Hawaii, Alaska, and Puerto Rico.

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Analyst Recommendations for Anterix (NASDAQ:ATEX)

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