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William Heard, a director at Anterix Inc. (NASDAQ:ATEX), has reported a series of stock sales amounting to over $1.39 million, according to a recent SEC filing. The transactions, executed by a portfolio manager at Heard Capital LLC, were carried out between February 14 and March 21, 2025. The sales come as InvestingPro data shows the stock trading near $32.54, significantly below its 52-week high of $42.91.
The sales involved a total of 35,400 shares of Anterix common stock, with prices ranging from $37.97 to $41.67 per share. Following these transactions, Heard, through Heard Capital LLC, holds approximately 1,716,738 shares indirectly. According to InvestingPro analysis, Anterix maintains strong financial health with a current ratio of 1.65 and holds more cash than debt on its balance sheet.
The sales were made without any instruction from or knowledge of Heard, as noted in the filing. This disclosure provides investors with insights into the trading activities associated with Anterix Inc., a company engaged in the telecommunications sector. Analysts maintain a bullish outlook on the stock, with price targets ranging from $67 to $100 per share, though they anticipate the company will not be profitable this year. Get comprehensive insights and 8 additional key ProTips for ATEX with InvestingPro.
In other recent news, Anterix reported its third-quarter fiscal year 2025 earnings, revealing an earnings per share (EPS) of $0.41, which significantly exceeded analysts’ expectations of a $0.61 loss. Despite this positive surprise, the company faced a revenue shortfall, reporting $1.57 million against the anticipated $1.88 million. Anterix also announced a strategic investment of up to $250 million in its AnterixAccelerator initiative, aimed at enhancing 900 MHz private LTE networks for utilities. This initiative involves collaboration with over 15 utilities and existing customers to modernize the grid. Additionally, Anterix has no outstanding debt and has managed a 20% reduction in operational expenses, which contributes to its financial stability. The company is also undertaking a strategic review process with Morgan Stanley (NYSE:MS) to explore growth opportunities. While the earnings report highlighted the company’s strong financial position, the revenue shortfall suggests challenges in meeting revenue expectations. Anterix’s recent developments indicate a focus on expanding its broadband spectrum coverage and securing new contracts, with a potential total contract value exceeding $3 billion.
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