Jeffrey Altman’s Owl Creek Asset Management is Buying These 5 Stocks

1. Anterix Inc. (NASDAQ:ATEX)

Owl Creek’s Stake Value: $324,652,000

Percentage of Owl Creek’s 13F Portfolio: 14.9%

Number of Hedge Fund Holders: 18

Anterix Incorporation is placed at number 1 on our list of the 10 stocks Owl Creek Asset Management is buying. The company provides wireless communication assets, focusing on smart infrastructure and cities.

On June 17, Anterix Inc.’s price target was raised from $50 to $60 by JPMorgan Chase (NYSE: JPM).

Steel City Capital mentioned Anterix Inc. in its investor letter. Here is what the letter said:

“The Partnership’s largest position, by leaps and bounds, is Anterix (ATEX). The company is the largest holder of licensed spectrum in the 900 MHz band. After successfully petitioning the FCC to convert the band’s allocation from narrowband to broadband, ATEX is now in the process of monetizing its spectrum holdings via long-term leases and outright sales. The company has focused almost exclusively on electric utilities who need secure wireless broadband networks to connect the rapidly proliferating sensors and devices used by new grid management applications. ATEX has earned its place as the Partnership’s largest position on account of 1) a large disconnect between its price and the private market value of its spectrum (on a MHz-Pop basis), 2) a clearly articulated plan to realize the spectrum’s underlying value, and 3) an event-driven profile which should be uncorrelated with the overall direction of the market.”

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