Anterix (NASDAQ:ATEX) Hits New 12-Month High - Should You Buy?

Anterix Inc. (NASDAQ:ATEX - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $42.70 and last traded at $41.45, with a volume of 22272 shares changing hands. The stock had previously closed at $41.66.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lifted their price objective on Anterix from $61.00 to $67.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th.

Anterix Trading Down 3.3 %

The company has a market cap of $726.42 million, a PE ratio of -23.97 and a beta of 0.87. The business has a 50 day simple moving average of $31.63 and a two-hundred day simple moving average of $34.05.

Insider Buying and Selling at Anterix

In related news, Director Mark Fleischhauer acquired 3,500 shares of the business's stock in a transaction dated Thursday, December 5th. The shares were acquired at an average cost of $34.19 per share, for a total transaction of $119,665.00. Following the acquisition, the director now directly owns 3,500 shares in the company, valued at approximately $119,665. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 45.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On Anterix

Several institutional investors and hedge funds have recently bought and sold shares of ATEX. Vanguard Group Inc. grew its stake in shares of Anterix by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 1,034,979 shares of the company's stock valued at $31,743,000 after buying an additional 34,836 shares during the period. DG Capital Management LLC acquired a new position in Anterix in the fourth quarter valued at $13,158,000. Garnet Equity Capital Holdings Inc. grew its position in Anterix by 33.3% during the fourth quarter. Garnet Equity Capital Holdings Inc. now owns 388,829 shares of the company's stock valued at $11,925,000 after acquiring an additional 97,127 shares during the period. Geode Capital Management LLC increased its stake in Anterix by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 358,882 shares of the company's stock worth $11,010,000 after acquiring an additional 3,398 shares during the last quarter. Finally, FMR LLC increased its stake in Anterix by 76.4% during the third quarter. FMR LLC now owns 250,955 shares of the company's stock worth $9,451,000 after acquiring an additional 108,683 shares during the last quarter. Institutional investors and hedge funds own 87.67% of the company's stock.

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.