"" Lead Paragraph: Anterix Inc. director William Heard sold 46,400 shares of the company's common stock, valued at approximately $4.18 million, in a recent transaction. The sale comes as the company's shares have surged over 315% year-to-date, trading at $90.75.
Body: The shares were sold at a weighted average price of $90.1098, with individual transactions occurring within a price range of $89.9942 to $90.115. This sale follows the company's fiscal first-quarter results, which surpassed Wall Street expectations. Anterix reported earnings of $0.01 per share, outperforming the anticipated loss of $0.25 per share predicted by analysts, and revenue of $1.9 million, exceeding the forecasted $1.63 million.
Background: Heard Capital LLC, for which Heard serves as investment manager, indirectly holds 1,670,338 shares of Anterix common stock. Following the sale, Mr. Heard directly holds 9,365 shares of Anterix common stock. The company's market capitalization now stands at $1.74 billion, according to InvestingPro analysis, which indicates the stock is currently overvalued relative to its Fair Value.
Subheading: Mixed Reactions Amid Anterix Earnings Beat Anterix's earnings beat and revenue growth have been met with mixed reactions from investors, who have expressed concerns over the company's limited sales base and the timing of future spectrum monetization. Despite these concerns, the stock has surged over 315% year-to-date, trading at $90.75.