Anterix (NASDAQ:ATEX) Stock Rating Lowered by Zacks Investment Research

Anterix (NASDAQ:ATEXGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Anterix Inc. operates as a wireless communications company. It focuses on enabling private broadband connectivity for critical infrastructure and enterprise businesses. The company operates primarily in the United States, Hawaii, Alaska and Puerto Rico. Anterix Inc., formerly known as pdvWireless Inc., is based in Woodland Park, New Jersey. “

ATEX has been the subject of a number of other reports. Morgan Stanley reduced their price objective on shares of Anterix from $65.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, February 10th. TheStreet cut shares of Anterix from a “c-” rating to a “d+” rating in a research note on Thursday, February 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Anterix has a consensus rating of “Hold” and a consensus target price of $63.00.

Shares of Anterix stock traded down $0.09 on Wednesday, reaching $42.34. The stock had a trading volume of 64,489 shares, compared to its average volume of 77,486. The business’s 50-day moving average price is $54.13 and its two-hundred day moving average price is $55.70. Anterix has a fifty-two week low of $41.16 and a fifty-two week high of $66.55. The stock has a market cap of $778.00 million, a P/E ratio of -15.98 and a beta of 0.52.

In other Anterix news, Chairman Morgan E. Obrien sold 25,000 shares of the business’s stock in a transaction on Tuesday, March 15th. The shares were sold at an average price of $56.02, for a total value of $1,400,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.05% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Stanley lifted its position in Anterix by 6.1% during the 2nd quarter. Morgan Stanley now owns 1,403,221 shares of the company’s stock worth $84,179,000 after buying an additional 80,091 shares in the last quarter. BlackRock Inc. lifted its position in Anterix by 8.9% during the 4th quarter. BlackRock Inc. now owns 914,926 shares of the company’s stock worth $53,761,000 after buying an additional 74,613 shares in the last quarter. Vanguard Group Inc. lifted its position in Anterix by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 723,286 shares of the company’s stock worth $41,879,000 after buying an additional 7,958 shares in the last quarter. Stonehill Capital Management LLC lifted its position in Anterix by 59.2% during the 4th quarter. Stonehill Capital Management LLC now owns 560,317 shares of the company’s stock worth $32,924,000 after buying an additional 208,373 shares in the last quarter. Finally, QVT Financial LP lifted its position in Anterix by 2.3% during the 1st quarter. QVT Financial LP now owns 446,666 shares of the company’s stock worth $25,862,000 after buying an additional 10,000 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Anterix Company Profile (Get Rating)

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, technologies, and solutions. It holds licensed spectrum in the 900 MHz band with nationwide coverage throughout the United States, Alaska, Hawaii, and Puerto Rico.

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