WOODLAND PARK, NJ—Gena L. Ashe, the Chief Legal Officer and Corporate Secretary of Anterix Inc. (NASDAQ:ATEX), recently sold a significant portion of her holdings in the company. On November 19, Ashe sold 5,547 shares of Anterix common stock at a price of $33 per share, totaling $183,051. Following this transaction, Ashe retains 26,083 shares in the company.
Anterix Inc. is a telecommunications company headquartered in Woodland Park, New Jersey. The sale was disclosed in a filing with the Securities and Exchange Commission, providing transparency to investors regarding insider transactions.
In other recent news, Anterix reported a strong financial standing during its Fiscal Year 2025 Second Quarter Earnings Call. The company highlighted its robust cash reserve of over $43 million and a debt-free status. Anterix also drew attention to a promising $3 billion pipeline of customer opportunities and plans to enhance shareholder value through increased share buybacks. The company's strategic priorities include driving spectrum transactions, nurturing customer relationships, and modernizing the U.S. electric grid with advanced 5G technology. The recent developments also indicate a potential expansion of Anterix's spectrum asset from 3/3 megahertz to 5/5 megahertz. Furthermore, the company anticipates an additional $35 million in cash flow for fiscal Q4 and expressed optimism about the FCC (BME:FCC)'s support for enhanced LTE offerings.
InvestingPro Insights
The recent insider sale by Gena L. Ashe comes at a time when Anterix Inc. (NASDAQ:ATEX) is experiencing mixed financial signals. According to InvestingPro data, Anterix has a market capitalization of $616.08 million and has shown impressive revenue growth of 97.01% over the last twelve months. This strong top-line expansion aligns with an InvestingPro Tip indicating that analysts anticipate sales growth in the current year.
Despite the revenue growth, Anterix faces profitability challenges. The company's operating income margin stands at -954.65%, reflecting significant operational costs. This is consistent with another InvestingPro Tip suggesting that Anterix is not expected to be profitable this year. However, it's worth noting that the company holds more cash than debt on its balance sheet, which provides some financial flexibility during this growth phase.
Anterix's stock is currently trading at $33.19, which is 78% of its 52-week high. The company's price-to-book ratio of 4.43 suggests that investors are placing a premium on the company's assets, possibly due to growth expectations. For investors seeking more comprehensive analysis, InvestingPro offers 8 additional tips for Anterix, providing a deeper understanding of the company's financial position and market outlook.
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