Shares of Anterix’s (NASDAQ:ATEX) gained 4.6% in Friday’s extended trading session after Director Jeffrey A. Altman disclosed that he had bought ATEX stock for a total value of $4.1 million. It is worth mentioning that Altman is also the owner of more than 10% of Anterix’s shares. Anterix specializes in private wireless broadband solutions for critical infrastructure industries.
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As per the SEC filing, Altman bought 124,192 shares of the company in multiple transactions between November 29 and December 1, at a weighted average price of $32.76. Investors should note that the move signals his confidence in ATEX’s future performance.
Overall, TipRanks’ Insider Trading Activity tool shows that the Insider Confidence Signal is currently Positive on ATEX.
Investors may find it valuable to monitor transactions by key insiders, as these transactions often mirror their confidence in the company’s future performance. Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
What is the Price Target for ATEX?
Analyst George Sutton from Craig-Hallum is the sole analyst covering Anterix and has assigned a Buy rating on the stock. His 12-month price forecast of $100 represents 190.70% upside potential from the stock’s Friday closing price of $34.40. Meanwhile, ATEX stock has gained 1.8% so far this year.
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