Cornelius Prior Jr Sells 3,500 Shares of ATN International (NASDAQ:ATNI) Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 3,500 shares of ATN International stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $27.02, for a total transaction of $94,570.00. Following the completion of the transaction, the insider directly owned 182,500 shares of the company’s stock, valued at approximately $4,931,150. This trade represents a 1.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

ATN International Stock Performance

Shares of ATNI traded down $0.74 during midday trading on Monday, reaching $27.63. The stock had a trading volume of 90,027 shares, compared to its average volume of 62,900. The firm has a 50 day simple moving average of $27.29 and a 200-day simple moving average of $25.47. ATN International, Inc. has a one year low of $13.86 and a one year high of $30.45. The firm has a market cap of $424.95 million, a PE ratio of -27.91, a P/E/G ratio of 3.83 and a beta of 0.54. The company has a current ratio of 1.21, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01.

ATN International (NASDAQ:ATNI) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.18) EPS 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 firm had revenue of $182.22 million during the quarter, compared to the consensus estimate of $183.40 million. As a group, sell-side analysts anticipate that ATN International, Inc. will post 0.74 EPS for the current year.

ATN International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Tuesday, March 31st were issued a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.10 annualized dividend and a dividend yield of 4.0%. ATN International’s payout ratio is presently -111.11%.

ATN International News Summary

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

• Negative Sentiment: Cornelius B. Prior, Jr. sold 19,100 shares at an average price of $27.96, reducing his stake by 17.84%. SEC filing
• Negative Sentiment: Additional insider sales followed in multiple smaller transactions in June and May, including sales of 2,000, 6,000, 12,610, 17,500, and other shares, suggesting a sustained pattern of reducing ownership. SEC filing
• Neutral Sentiment: The sales were executed at prices mostly in the $26.25 to $28.30 range, near where the stock has recently been trading, so the transactions may also reflect portfolio rebalancing or profit-taking rather than a fundamental shift. SEC filing

Analyst Ratings Changes

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

Institutional Trading of ATN International

A number of institutional investors have recently bought and sold shares of ATNI. Strs Ohio bought a new stake in ATN International in the 1st quarter valued at about $138,000. Segall Bryant & Hamill LLC bought a new stake in ATN International in the 4th quarter valued at about $448,000. Hillsdale Investment Management Inc. bought a new stake in ATN International in the 4th quarter valued at about $479,000. Ameriprise Financial Inc. boosted its holdings in ATN International by 7.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company’s stock valued at $583,000 after purchasing an additional 2,397 shares during the period. Finally, Marshall Wace LLP boosted its holdings in ATN International by 137.9% in the 2nd quarter. Marshall Wace LLP now owns 47,804 shares of the technology company’s stock valued at $777,000 after purchasing an additional 27,714 shares during the period. 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.