Insider Selling: ATN International (NASDAQ:ATNI) Major Shareholder Sells $13,550.00 in Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 500 shares of ATN International stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $27.10, for a total transaction of $13,550.00. Following the completion of the transaction, the insider directly owned 86,436 shares in the company, valued at approximately $2,342,415.60. This represents a 0.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

ATN International Stock Performance

Shares of ATN International stock traded up $0.66 during trading on Monday, reaching $27.69. The company’s stock had a trading volume of 80,501 shares, compared to its average volume of 73,153. ATN International, Inc. has a one year low of $13.86 and a one year high of $30.45. 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 firm has a market cap of $425.87 million, a price-to-earnings ratio of -27.97, a price-to-earnings-growth ratio of 3.65 and a beta of 0.54. The business’s fifty day moving average price is $27.23 and its 200-day moving average price is $25.79.

ATN International (NASDAQ:ATNI) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $183.40 million. As a group, equities research analysts predict that ATN International, Inc. will post 0.74 earnings per share for the current year.

ATN International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Tuesday, June 30th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.2%. This is a boost from ATN International’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Tuesday, June 30th. ATN International’s dividend payout ratio (DPR) is currently -111.11%.

Institutional Trading of ATN International

Hedge funds have recently modified their holdings of the stock. Brown Brothers Harriman & Co. increased its position in ATN International by 5.6% in the third quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company’s stock worth $9,918,000 after purchasing an additional 35,394 shares during the period. Bank of New York Mellon Corp increased its stake in ATN International by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 122,634 shares of the technology company’s stock valued at $3,338,000 after purchasing an additional 1,132 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in 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 worth $1,152,000 after buying an additional 6,715 shares during the period. Marshall Wace LLP raised its position in shares of ATN International by 137.9% during the second quarter. Marshall Wace LLP now owns 47,804 shares of the technology company’s stock worth $777,000 after purchasing an additional 27,714 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in ATN International by 7.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company’s stock worth $583,000 after buying an additional 2,397 shares during the period. 65.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on ATNI. Wall Street Zen downgraded ATN International from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings upgraded ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

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.