Anterix (NASDAQ:ATEX) Trading 7.6% Higher – Still a Buy?

Anterix Inc. (NASDAQ:ATEX)’s stock price rose 7.6% during mid-day trading on Wednesday . The stock traded as high as $39.50 and last traded at $38.93. Approximately 114,537 shares were traded during trading, a decline of 23% from the average daily volume of 148,424 shares. The stock had previously closed at $36.16.

Anterix Stock Performance

The stock has a 50-day simple moving average of $30.56 and a 200 day simple moving average of $33.95. The stock has a market capitalization of $689.03 million, a P/E ratio of -18.34 and a beta of 0.87.

Insider Activity at Anterix

In related news, Director Leslie B. Daniels acquired 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average cost of $32.75 per share, with a total value of $65,500.00. Following the completion of the purchase, the director now directly owns 2,000 shares in the company, valued at approximately $65,500. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark Fleischhauer acquired 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were bought at an average cost of $34.19 per share, with a total value of $119,665.00. Following the completion of the purchase, the director now owns 3,500 shares of the company’s stock, valued at $119,665. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 45.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On Anterix

Several institutional investors have recently modified their holdings of ATEX. nVerses Capital LLC acquired a new stake in Anterix in the third quarter worth $45,000. Meeder Asset Management Inc. acquired a new stake in Anterix during the 3rd quarter worth $58,000. KLP Kapitalforvaltning AS bought a new position in Anterix during the fourth quarter worth about $55,000. Point72 DIFC Ltd lifted its holdings in Anterix by 440.8% during the third quarter. Point72 DIFC Ltd now owns 2,639 shares of the company’s stock worth $99,000 after acquiring an additional 2,151 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Anterix in the second quarter worth about $203,000. 87.67% of the stock is currently owned by institutional investors and hedge funds.

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.