Insider Selling: ATN International (NASDAQ:ATNI) Major Shareholder Sells $182,633.55 in Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 5,745 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $31.79, for a total value of $182,633.55. Following the completion of the transaction, the insider directly owned 58,665 shares in the company, valued at $1,864,960.35. This trade represents a 8.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

ATN International Stock Performance

ATNI stock opened at $30.95 on Friday. ATN International, Inc. has a twelve month low of $13.86 and a twelve month high of $33.41. The firm has a market cap of $476.72 million, a price-to-earnings ratio of 3.01, a PEG ratio of 3.99 and a beta of 0.56. The business’s fifty day simple moving average is $26.42 and its two-hundred day simple moving average is $26.88. The company has a quick ratio of 1.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.68.

ATN International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Tuesday, June 30th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Tuesday, June 30th. This is a positive change from ATN International’s previous quarterly dividend of $0.28. ATN International’s dividend payout ratio (DPR) is 11.28%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of ATN International from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Zacks Research upgraded ATN International from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of ATN International in a research note on Friday, August 7th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, ATN International has an average rating of “Hold”.

Institutional Trading of ATN International

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in ATN International during the 2nd quarter valued at about $24,457,000. Brown Brothers Harriman & Co. increased its holdings in ATN International by 5.6% during the third quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company’s stock valued at $9,918,000 after buying an additional 35,394 shares during the period. Bank of New York Mellon Corp bought a new position in ATN International in the second quarter worth approximately $3,323,000. Empowered Funds LLC bought a new position in ATN International in the second quarter worth approximately $2,481,000. Finally, Gamco Investors INC. ET AL lifted its holdings in ATN International by 17.1% during the second quarter. Gamco Investors INC. ET AL now owns 70,221 shares of the technology company’s stock worth $1,141,000 after buying an additional 10,253 shares during the period. 65.50% of the stock is owned by hedge funds and other 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.