Cornelius Prior, Jr. Sells 12,610 Shares of ATN International (NASDAQ:ATNI) Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 12,610 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $28.29, for a total value of $356,736.90. Following the transaction, the insider directly owned 115,036 shares of the company’s stock, valued at $3,254,368.44. This represents a 9.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

ATN International Trading Down 3.5%

Shares of ATNI stock opened at $26.66 on Wednesday. The stock has a 50-day simple moving average of $27.27 and a 200 day simple moving average of $25.51. ATN International, Inc. has a fifty-two week low of $13.86 and a fifty-two week high of $30.45. The stock has a market capitalization of $410.03 million, a P/E ratio of -26.93, a P/E/G ratio of 3.73 and a beta of 0.54. The company has a quick ratio of 1.16, a current ratio of 1.21 and a debt-to-equity ratio of 1.01.

ATN International (NASDAQ:ATNI) last announced its earnings results 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). 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 for the quarter, compared to the consensus estimate of $183.40 million. On average, sell-side analysts expect that ATN International, Inc. will post 0.74 earnings per share for the current fiscal year.

More ATN International News

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

Hedge Funds Weigh In On ATN International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio acquired a new position in shares of ATN International in the 1st quarter valued at $138,000. Segall Bryant & Hamill LLC acquired a new position in shares of ATN International in the 4th quarter valued at $448,000. Hillsdale Investment Management Inc. acquired a new position in shares of ATN International in the 4th quarter valued at $479,000. Ameriprise Financial Inc. boosted its position in shares of 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 position in shares of 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 and hedge funds own 65.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wall Street Zen lowered ATN International from a “buy” rating to a “hold” rating in a research 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 equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, ATN International has a consensus rating of “Hold”.

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.