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

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 500 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $27.10, for a total value of $13,550.00. Following the completion of the sale, the insider directly owned 86,436 shares in the company, valued at approximately $2,342,415.60. The trade was a 0.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

ATN International Trading Up 2.4%

ATNI stock traded up $0.66 during trading on Monday, reaching $27.69. 80,501 shares of the stock traded hands, compared to its average volume of 73,153. The business’s 50 day moving average price is $27.23 and its 200-day moving average price is $25.79. The firm has a market capitalization of $425.87 million, a PE ratio of -27.97, a P/E/G ratio of 3.65 and a beta of 0.54. ATN International, Inc. has a 52-week low of $13.86 and a 52-week high of $30.45. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 1.16.

ATN International (NASDAQ:ATNI) last released 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 negative net margin of 1.20% and a positive return on equity of 0.55%. As a group, sell-side analysts forecast that ATN International, Inc. will post 0.74 earnings per share for the current year.

ATN International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Tuesday, June 30th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Tuesday, June 30th. This is a positive change from ATN International’s previous quarterly dividend of $0.28. ATN International’s payout ratio is -111.11%.

Institutional Investors Weigh In On ATN International

Several institutional investors have recently made changes to their positions in ATNI. Brown Brothers Harriman & Co. lifted its stake in 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 during the last quarter. Bank of New York Mellon Corp increased its stake in shares of ATN International by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 122,634 shares of the technology company’s stock worth $3,338,000 after purchasing an additional 1,132 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in shares of ATN International by 9.6% during the 3rd quarter. Gamco Investors INC. ET AL now owns 76,936 shares of the technology company’s stock worth $1,152,000 after purchasing an additional 6,715 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of ATN International by 137.9% during 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 in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of ATN International by 7.2% during 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 in the last quarter. 65.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Weiss Ratings raised shares of ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Wall Street Zen cut shares of ATN International from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Two analysts have rated the stock with a Hold rating, According to MarketBeat, ATN International has an average 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.