Anterix Inc. (NASDAQ:ATEX) Chief Financial Officer Timothy Gray has recently engaged in significant trading activity involving the company's shares. According to the latest filings, Gray sold a total of $1,604,452 worth of common stock, with prices ranging between $31.91 and $32.53.
The transactions took place over three days, starting on May 1, 2024, with Gray selling 13,873 shares at an average price of $32.01, and an additional 2,794 shares at an average of $32.53 on the same day. The following day, he sold another 16,667 shares at $31.91 each. On May 3, Gray completed his sales by disposing of 16,666 shares at an average price of $32.26.
In addition to these sales, Gray also exercised options to acquire shares of common stock at a set price of $20.00 per share. These transactions, which occurred on May 1, May 2, and May 3, involved 16,667 shares, 16,667 shares, and 16,666 shares respectively. The total value for these option exercises amounted to $1,000,000.
These stock options were part of a Rule 10b5-1 trading plan adopted by Gray on November 30, 2023, which allowed for the exercise and sale of 50,000 stock options granted on May 14, 2014, and set to expire on May 14, 2024. The plan was executed in accordance with predetermined terms, providing an automated structure for the transactions.
Following the series of transactions, Gray's direct ownership in the company's common stock adjusted to a total of 90,475 shares. The sales and exercises come as part of the executive's financial planning strategy and are a common practice among corporate insiders.
Investors and followers of Anterix Inc. can find more details on these transactions by referring to the company's filings, which provide comprehensive information on the executive's trading activities.
InvestingPro Insights
Amid the recent trading activity by Anterix Inc.'s (NASDAQ:ATEX) CFO Timothy Gray, investors may gain further insight into the company's financial health and market position through key metrics and expert analysis. With the latest data from InvestingPro, here are some notable figures:
- The company's market capitalization stands at $592.27 million, reflecting its valuation in the current market.
- Anterix's price-to-earnings (P/E) ratio is reported at 38.38, suggesting investors are paying $38.38 for every dollar of earnings, which is considered high in many industries.
- Remarkably, the company has experienced a substantial revenue growth rate of 115.01% over the last twelve months as of Q3 2024.
Investors considering the implications of insider trading like Gray's might also look at the broader financial picture provided by InvestingPro Tips. For instance, Anterix holds more cash than debt on its balance sheet, which is a strong indicator of financial stability. Additionally, analysts anticipate sales growth in the current year, which could be a positive sign for potential investors. However, it's worth noting that the company is trading at a high earnings multiple and analysts do not expect it to be profitable this year.
For those interested in a deeper dive into Anterix's financials and strategic positioning, there are additional InvestingPro Tips available. In fact, there are 6 more tips listed in InvestingPro for ATEX, which could provide a more nuanced understanding of the company's prospects and valuation. To access these insights and make a more informed investment decision, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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