Insider Selling: ATN International (NASDAQ:ATNI) Major Shareholder Sells 5,000 Shares of Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 5,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $27.25, for a total transaction of $136,250.00. Following the sale, the insider owned 188,000 shares in the company, valued at approximately $5,123,000. This trade represents a 2.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

ATN International Stock Performance

ATNI traded down $0.74 on Monday, hitting $27.63. 90,027 shares of the company’s stock were exchanged, compared to its average volume of 62,900. 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. ATN International, Inc. has a twelve month low of $13.86 and a twelve month high of $30.45. The stock has a fifty day moving average of $27.29 and a two-hundred day moving average of $25.47. 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 released its quarterly earnings data 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 business had revenue of $182.22 million for the quarter, compared to analyst estimates 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, research analysts anticipate that ATN International, Inc. will post 0.74 earnings per share for the current fiscal year.

ATN International Dividend Announcement

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

Hedge Funds Weigh In On ATN International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. bought a new position in ATN International in the 4th quarter worth approximately $479,000. Gamco Investors INC. ET AL grew its holdings in ATN International by 9.6% in 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 in the last quarter. Brown Brothers Harriman & Co. grew its holdings in ATN International by 5.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company’s stock worth $9,918,000 after buying an additional 35,394 shares in the last quarter. Marshall Wace LLP grew 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 worth $777,000 after buying an additional 27,714 shares in the last quarter. Finally, Ameriprise Financial Inc. grew 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 worth $583,000 after buying an additional 2,397 shares in the last quarter. 65.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ATNI shares. Wall Street Zen lowered shares of ATN International from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. 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. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, ATN International presently has an average rating of “Hold”.

ATN International News Roundup

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

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.