ATN International (NASDAQ:ATNI) Major Shareholder Sells $534,036.00 in Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 19,100 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $27.96, for a total value of $534,036.00. Following the transaction, the insider directly owned 87,936 shares in the company, valued at approximately $2,458,690.56. This trade represents a 17.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

ATN International Stock Down 2.6%

ATNI stock traded down $0.74 during trading on Monday, reaching $27.63. 90,027 shares of the stock were exchanged, compared to its average volume of 62,900. The firm’s 50 day moving average is $27.29 and its 200 day moving average is $25.47. ATN International, Inc. has a twelve month low of $13.86 and a twelve month high of $30.45. 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 firm has a market cap of $424.95 million, a P/E ratio of -27.91, a price-to-earnings-growth ratio of 3.83 and a beta of 0.54.

ATN International (NASDAQ:ATNI) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.30). The company had revenue of $182.22 million during the quarter, compared to analysts’ expectations of $183.40 million. ATN International had a positive return on equity of 0.55% and a negative net margin of 1.20%. As a group, research analysts forecast that ATN International, Inc. will post 0.74 EPS for the current year.

ATN International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st were paid a $0.275 dividend. 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 dividend payout ratio is -111.11%.

Analysts Set New Price Targets

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

More ATN International News

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

Hedge Funds Weigh In On ATN International

Several institutional investors have recently modified their holdings of the business. Segall Bryant & Hamill LLC grew its holdings in shares of ATN International by 49.3% in 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 in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of 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 acquiring an additional 1,132 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of ATN International in the fourth quarter valued at approximately $479,000. Brown Brothers Harriman & Co. grew its holdings in shares of ATN International by 5.6% in the third quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company’s stock valued at $9,918,000 after acquiring an additional 35,394 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its holdings in shares of ATN International by 9.6% in 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 institutional investors.

ATN International Company Profile

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.