Anterix (NASDAQ:ATEX) Hits New 12-Month High – Time to Buy?

Anterix Inc. (NASDAQ:ATEX) hit a new 52-week high on Tuesday . The company traded as high as $42.70 and last traded at $41.45, with a volume of 22272 shares trading hands. The stock had previously closed at $41.66.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. boosted their price objective on Anterix from $61.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th.

Anterix Price Performance

The stock has a 50 day simple moving average of $31.39 and a two-hundred day simple moving average of $33.99. The company has a market cap of $751.53 million, a PE ratio of -24.81 and a beta of 0.87.

Insider Buying and Selling at Anterix

In related news, Director Mark Fleischhauer purchased 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was purchased at an average cost of $34.19 per share, with a total value of $119,665.00. Following the completion of the acquisition, the director now directly owns 3,500 shares in the company, valued at $119,665. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 45.61% of the stock is owned by company insiders.

Institutional Investors Weigh In On Anterix

Several hedge funds have recently modified their holdings of ATEX. nVerses Capital LLC acquired a new stake in shares of Anterix during the third quarter worth $45,000. Woodmont Investment Counsel LLC lifted its holdings in shares of Anterix by 2.4% during the third quarter. Woodmont Investment Counsel LLC now owns 34,545 shares of the company’s stock worth $1,301,000 after purchasing an additional 800 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of Anterix by 25.8% during the third quarter. Los Angeles Capital Management LLC now owns 9,800 shares of the company’s stock worth $369,000 after purchasing an additional 2,009 shares during the period. Versor Investments LP acquired a new stake in Anterix in the third quarter valued at $211,000. Finally, Quest Partners LLC acquired a new stake in Anterix in the third quarter valued at $759,000. 87.67% of the stock is 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.