Anterix (NASDAQ:ATEX) Shares Gap Down - Time to Sell?

Shares of Anterix Inc. (NASDAQ:ATEX - Get Free Report) gapped down prior to trading 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 trading hands.

Wall Street Analysts Forecast Growth

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

Anterix Price Performance

The company has a market capitalization of $571.01 million, a P/E ratio of -15.18 and a beta of 0.85. The company has a 50 day moving average of $33.05 and a 200-day moving average of $35.59.

Insider Activity

In other news, Director Leslie B. Daniels bought 2,000 shares of Anterix stock in a transaction on Wednesday, November 20th. The shares were purchased at an average price of $32.75 per share, for a total transaction of $65,500.00. Following the acquisition, the director now owns 2,000 shares of the company's stock, valued at approximately $65,500. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 purchase, the director now owns 3,500 shares in the company, valued at $119,665. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 45.61% of the company's stock.

Institutional Investors Weigh In On Anterix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its holdings in shares of Anterix by 78.2% during 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. FMR LLC boosted 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 in the last quarter. Verition Fund Management LLC grew its holdings in Anterix by 309.1% in the third quarter. Verition Fund Management LLC now owns 22,199 shares of the company's stock worth $836,000 after purchasing an additional 16,773 shares during the period. Quest Partners LLC purchased a new stake in shares of Anterix in the 3rd quarter worth approximately $759,000. Finally, Renaissance Technologies LLC bought a new position in Anterix during the 2nd quarter valued at approximately $1,334,000. 87.67% of the stock is owned by hedge funds and other 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.