Anterix (NASDAQ:ATEX) Shares Gap Down – Here’s Why

Anterix Inc. (NASDAQ:ATEX) gapped down before the market opened on Tuesday . The stock had previously closed at $30.51, but opened at $29.58. Anterix shares last traded at $30.78, with a volume of 9,587 shares.

Analysts Set New Price Targets

Separately, Craig Hallum raised Anterix to a “strong-buy” rating in a research report on Wednesday, October 9th.

Anterix Stock Up 0.5 %

The firm has a market capitalization of $571.01 million, a P/E ratio of -15.18 and a beta of 0.85. The company’s 50 day moving average is $32.98 and its 200-day moving average is $35.55.

Insider Buying and Selling at Anterix

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

Hedge Funds Weigh In On Anterix

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in Anterix by 8.0% during the second quarter. Bank of New York Mellon Corp now owns 50,605 shares of the company’s stock worth $2,003,000 after acquiring an additional 3,752 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Anterix during the 2nd quarter worth $28,000. Jupiter Asset Management Ltd. purchased a new position in shares of Anterix in the 2nd quarter worth about $200,000. Renaissance Technologies LLC bought a new position in Anterix during the second quarter valued at about $1,334,000. Finally, Gabelli Funds LLC increased its holdings in Anterix by 4.7% during the second quarter. Gabelli Funds LLC now owns 140,422 shares of the company’s stock worth $5,559,000 after buying an additional 6,322 shares during the last quarter. 87.67% of the stock is owned by institutional investors.

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.