JPMorgan Raises Anterix Price Target to $67.00

On Thursday, JPMorgan Chase & Co. announced an increase in their price target for Anterix Inc. (NASDAQ:ATEX) from $61.00 to $67.00. This adjustment in the price objective reflects the brokerage's positive outlook on the stock, resulting in an "overweight" rating being assigned. The revised target suggests a substantial potential upside of approximately 66.81% based on the stock's last closing price.

Anterix Stock Performance Overview

During trading on Thursday, Anterix shares rose by $4.26, reaching a total price of $40.17. The trading volume for the day was recorded at 106,793 shares, which is lower than the average volume of 166,045 shares. The company has experienced a 12-month low of $27.37 and a high of $42.41. Anterix currently holds a market capitalization of $747.87 million, and its price-to-earnings (P/E) ratio stands at -19.84, with a beta value of 0.87. The stock's fifty-day moving average is noted at $30.64, while the 200-day moving average sits at $33.93.

Insider Activity Updates

In recent news regarding insider trading, Director Leslie B. Daniels acquired 2,000 shares of Anterix on November 20, purchasing them at an average price of $32.75 per share for a total of $65,500. Following this transaction, Daniels now owns 2,000 shares valued at about $65,500, marking an increase in their ownership in the company. Additionally, Director Mark Fleischhauer purchased 3,500 shares on December 5, at an average price of $34.19 per share, totaling $119,665. Following this acquisition, Fleischhauer holds 3,500 shares valued at approximately $119,665. Approximately 45.61% of the company's stock is held by corporate insiders.

Institutional Investment Trends

Recently, several hedge funds and institutional investors have adjusted their positions in Anterix. FMR LLC increased its stake by 76.4% in the third quarter, owning 250,955 shares valued at around $9.45 million after acquiring an additional 108,683 shares. ExodusPoint Capital Management also established a new stake worth approximately $2.4 million in the fourth quarter. Furthermore, Jane Street Group increased its holdings by 78.2%, now owning 128,892 shares valued at $4.85 million after an additional purchase of 56,559 shares. Vanguard Group has also raised its stake by 3.5%, now owning 1,034,979 shares worth approximately $31.74 million. Notably, JPMorgan Chase & Co. itself increased its stake by 91.2% in the fourth quarter, now holding 64,692 shares valued at $1.98 million. Overall, 87.67% of Anterix shares are held by institutional investors.

Company Overview

Anterix Inc. is a wireless communications company dedicated to commercializing its spectrum assets. The firm focuses on helping utility and critical infrastructure customers establish private broadband networks and innovative broadband solutions. Anterix holds licensed spectrum in the 900 MHz band, providing coverage across the United States, including Alaska, Hawaii, and Puerto Rico.

Stocks, Investment, Anterix