Morgan E. O'Brien, Executive Chairman of Anterix Inc. (NASDAQ:ATEX), recently sold 13,609 shares of the company's common stock. The transaction, dated December 16, 2024, was executed at an average price of $33.44 per share, totaling approximately $455,084. Following this sale, O'Brien retains ownership of 23,973 shares in the company. The sale comes as Anterix, with a market capitalization of approximately $596 million, maintains strong liquidity with a current ratio of 3.59x. According to InvestingPro analysis, the stock currently trades at a premium to its Fair Value, despite analyst targets suggesting significant upside potential.
The sale was conducted through multiple transactions by a broker-dealer, with prices ranging from $33.34 to $33.55 per share. The reported price reflects the weighted average sale price. For deeper insights into Anterix's valuation metrics and additional financial analysis, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence. Further details on the number of shares sold at each price are available upon request to the SEC, Anterix, or its security holders.
In other recent news, Anterix reported a sturdy financial standing in its Fiscal Year 2025 Second Quarter Earnings Call, revealing zero debt and a cash reserve exceeding $43 million. The company also highlighted a $3 billion pipeline of customer opportunities and plans to increase shareholder value through boosted share buybacks. Notably, Anterix is focusing on modernizing the U.S. electric grid and potentially expanding its spectrum asset for 5G capabilities.
Moreover, a joint petition to the Federal Communications Commission ( FCC (BME:FCC)) is in the works, aiming to expand the spectrum from 3/3 megahertz to 5/5 megahertz. Strategic priorities for the company include driving spectrum transactions, enhancing customer relationships, and increasing share repurchase efforts. Anterix anticipates an additional $35 million in cash flow for fiscal Q4.
These recent developments underscore the company's commitment to growth through strategic initiatives and technological advancements. Anterix's focus on enabling grid modernization positions it to meet the evolving needs of the U.S. utilities sector. With an eye on regulatory developments, the company remains optimistic about its future engagements.
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