ATN International (NASDAQ:ATNI) Major Shareholder Cornelius Prior, Jr. Sells 6,000 Shares of Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 6,000 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $25.73, for a total transaction of $154,380.00. Following the completion of the transaction, the insider directly owned 194,000 shares of the company’s stock, valued at $4,991,620. This represents a 3.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

ATN International Trading Down 3.5%

Shares of ATN International stock opened at $26.66 on Wednesday. The company has a market capitalization of $410.03 million, a P/E ratio of -26.93, a P/E/G ratio of 3.73 and a beta of 0.54. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.21. The company has a fifty day moving average of $27.27 and a 200 day moving average of $25.51. ATN International, Inc. has a fifty-two week low of $13.86 and a fifty-two week high of $30.45.

ATN International (NASDAQ:ATNI) last issued its earnings results on Thursday, May 7th. The technology company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.30). The firm had revenue of $182.22 million during the quarter, compared to the consensus estimate of $183.40 million. ATN International had a positive return on equity of 0.55% and a negative net margin of 1.20%. On average, sell-side analysts anticipate that ATN International, Inc. will post 0.74 earnings per share for the current fiscal year.

Key Headlines Impacting ATN International

Here are the key news stories impacting ATN International this week:

• Negative Sentiment: Cornelius B. Prior, Jr. has sold shares in multiple recent transactions, including a 19,100-share sale and other smaller sales, reducing his ownership meaningfully. SEC filing
• Negative Sentiment: The selling pattern has been consistent across several dates in May and June, which may reinforce concerns that a large insider sees better value elsewhere or is trimming exposure. SEC filing
• Neutral Sentiment: The sale prices were clustered near the stock’s recent trading range, so the activity could also reflect portfolio rebalancing or routine liquidity management rather than a change in fundamentals. SEC filing

Analysts Set New Price Targets

Several analysts have commented on the stock. Weiss Ratings upgraded shares of ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Wall Street Zen cut shares of ATN International from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, ATN International presently has a consensus rating of “Hold”.

Institutional Trading of ATN International

Several hedge funds have recently bought and sold shares of ATNI. Segall Bryant & Hamill LLC raised its position in shares of ATN International by 49.3% during the 1st quarter. Segall Bryant & Hamill LLC now owns 29,341 shares of the technology company’s stock valued at $799,000 after buying an additional 9,684 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of ATN International by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 122,634 shares of the technology company’s stock valued at $3,338,000 after buying an additional 1,132 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of ATN International during the 4th quarter valued at about $479,000. Brown Brothers Harriman & Co. raised its position in shares of ATN International by 5.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company’s stock valued at $9,918,000 after buying an additional 35,394 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its position in shares of ATN International by 9.6% during the 3rd quarter. Gamco Investors INC. ET AL now owns 76,936 shares of the technology company’s stock valued at $1,152,000 after buying an additional 6,715 shares in the last quarter. Hedge funds and other institutional investors own 65.50% of the company’s stock.

About ATN International

ATN International, Inc (NASDAQ: ATNI) is a diversified provider of telecommunications services that operates through a combination of wireless, wireline and broadband networks. Headquartered in Beverly, Massachusetts, the company offers a range of voice and data solutions to residential, commercial and wholesale customers. Its core offerings include long-distance voice services, fixed-line telephony, broadband internet access and network infrastructure solutions.

Through its business segments, ATN delivers tailored communications products to underserved markets across the Caribbean, Latin America, parts of the Pacific and select rural regions of the United States.