Anterix (NASDAQ:ATEX) Sees Large Volume Increase – Still a Buy?

Shares of Anterix Inc. (NASDAQ:ATEX) saw strong trading volume on Friday . 98,216 shares changed hands during mid-day trading, an increase of 3% from the previous session’s volume of 95,083 shares.The stock last traded at $28.82 and had previously closed at $27.83.

Analyst Ratings Changes

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

Anterix Stock Up 11.4 %

The firm has a market capitalization of $577.03 million, a P/E ratio of -15.34 and a beta of 0.87. The business has a 50-day moving average price of $31.96 and a 200-day moving average price of $35.22.

Insider Activity

In related news, Director Leslie B. Daniels purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were acquired at an average price of $32.75 per share, with a total value of $65,500.00. Following the purchase, the director now directly owns 2,000 shares in the company, valued at $65,500. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark Fleischhauer purchased 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was bought at an average cost of $34.19 per share, for a total transaction of $119,665.00. Following the purchase, the director now owns 3,500 shares in the company, valued at $119,665. This represents 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.

Institutional Trading of Anterix

Institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC boosted its stake in Anterix by 78.2% in the 3rd quarter. Jane Street Group LLC now owns 128,892 shares of the company’s stock valued at $4,854,000 after buying an additional 56,559 shares in the last quarter. Barclays PLC boosted its stake in Anterix by 278.2% in the 3rd quarter. Barclays PLC now owns 16,971 shares of the company’s stock valued at $639,000 after buying an additional 12,484 shares in the last quarter. FMR LLC boosted its stake in Anterix by 76.4% in the 3rd quarter. FMR LLC now owns 250,955 shares of the company’s stock valued at $9,451,000 after buying an additional 108,683 shares in the last quarter. Verition Fund Management LLC boosted its stake in Anterix by 309.1% in the 3rd quarter. Verition Fund Management LLC now owns 22,199 shares of the company’s stock valued at $836,000 after buying an additional 16,773 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in Anterix in the 3rd quarter valued at $759,000. Institutional investors and hedge funds own 87.67% of the company’s stock.

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.