Cornelius Prior, Jr. Sells 5,000 Shares of ATN International (NASDAQ:ATNI) Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 5,000 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $27.65, for a total transaction of $138,250.00. Following the completion of the transaction, the insider owned 81,436 shares of the company’s stock, valued at $2,251,705.40. This trade represents a 5.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

ATN International Trading Down 6.2%

NASDAQ:ATNI opened at $24.81 on Friday. The company has a 50-day moving average price of $27.07 and a 200-day moving average price of $25.92. The stock has a market cap of $381.58 million, a price-to-earnings ratio of -25.06, a P/E/G ratio of 3.57 and a beta of 0.55. 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, Inc. has a 12 month low of $13.86 and a 12 month high of $30.45.

ATN International (NASDAQ:ATNI) last announced its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.18) earnings per share (EPS) 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 company had revenue of $182.22 million for the quarter, compared to analysts’ expectations of $183.40 million. Equities analysts predict that ATN International, Inc. will post 0.74 EPS for the current year.

ATN International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.29 per share. This is a positive change from ATN International’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, June 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.7%. ATN International’s dividend payout ratio (DPR) is currently -117.17%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ATNI. Brown Brothers Harriman & Co. boosted its position in shares of 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 last quarter. Bank of New York Mellon Corp lifted its stake in 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 valued at $3,338,000 after acquiring an additional 1,132 shares during the period. Gamco Investors INC. ET AL lifted its stake in 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 valued at $1,152,000 after acquiring an additional 6,715 shares during the period. Marshall Wace LLP boosted 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 acquiring an additional 27,714 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted 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 acquiring an additional 2,397 shares during the last quarter. 65.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ATNI has been the topic of several research reports. Weiss Ratings upgraded ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Wall Street Zen lowered shares of ATN International from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Two research analysts have rated the stock with a Hold rating, According to data from 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.