Cornelius Prior, Jr. Sells 2,000 Shares of ATN International (NASDAQ:ATNI) Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 2,000 shares of ATN International stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $27.30, for a total value of $54,600.00. Following the sale, the insider owned 107,036 shares of the company’s stock, valued at approximately $2,922,082.80. This trade represents a 1.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

ATN International Stock Down 3.5%

ATNI stock opened at $26.66 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. The company’s 50 day moving average is $27.27 and its 200 day moving average is $25.51. The stock has a market cap of $410.03 million, a price-to-earnings ratio of -26.93, a price-to-earnings-growth ratio of 3.73 and a beta of 0.54. ATN International, Inc. has a 1-year low of $13.86 and a 1-year high of $30.45.

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

ATN International News Roundup

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

ATNI has been the subject of several research reports. Weiss Ratings upgraded shares of ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Wall Street Zen lowered ATN International from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Segall Bryant & Hamill LLC raised its stake in shares of ATN International by 49.3% during the first quarter. Segall Bryant & Hamill LLC now owns 29,341 shares of the technology company’s stock valued at $799,000 after acquiring an additional 9,684 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of ATN International by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 122,634 shares of the technology company’s stock worth $3,338,000 after buying an additional 1,132 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of ATN International during the fourth quarter valued at approximately $479,000. Brown Brothers Harriman & Co. increased its stake in shares of ATN International by 5.6% during the third 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 during the period. Finally, Gamco Investors INC. ET AL raised its holdings in shares of ATN International by 9.6% during the third quarter. Gamco Investors INC. ET AL now owns 76,936 shares of the technology company’s stock valued at $1,152,000 after acquiring an additional 6,715 shares in the last quarter. 65.50% of the stock is owned by hedge funds and other institutional investors.

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.