According to Zacks, “ATN International, Inc. invests, own and operate communications companies and renewable energy assets. The company through its operating subsidiaries provide wireless and wireline connectivity to residential and business customers including mobile wireless solutions, local exchange services and broadband internet services; distributed solar electric power to corporate, utility and municipal customers and owner and operator of terrestrial and submarine fiber optic transport systems primarily in the United States and the Caribbean. ATN International Inc., formerly known as Atlantic Tele-Network, Inc., is based in Beverly, United States. “
Separately, Drexel Hamilton began coverage on Atlantic Tele-Network in a research report on Wednesday, June 22nd. They set a buy rating on the stock.
Shares of Atlantic Tele-Network (NASDAQ:ATNI) opened at 65.29 on Monday. The stock’s 50 day moving average price is $65.80 and its 200 day moving average price is $72.06. The company has a market capitalization of $1.05 billion, a PE ratio of 76.63 and a beta of 0.86. Atlantic Tele-Network has a 12 month low of $62.70 and a 12 month high of $83.80.
Atlantic Tele-Network (NASDAQ:ATNI) last released its quarterly earnings data on Wednesday, July 27th. The company reported ($0.59) EPS for the quarter, missing the consensus estimate of $0.08 by $0.67. Atlantic Tele-Network had a net margin of 3.73% and a return on equity of 2.16%. The business had revenue of $100 million for the quarter, compared to analysts’ expectations of $94.67 million. On average, analysts forecast that Atlantic Tele-Network will post $0.85 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, September 30th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.08%. This is a boost from Atlantic Tele-Network’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, September 28th. Atlantic Tele-Network’s dividend payout ratio (DPR) is presently 158.14%.
In other Atlantic Tele-Network news, CEO Michael T. Prior sold 531 shares of the firm’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $80.46, for a total value of $42,724.26. Following the transaction, the chief executive officer now directly owns 369,778 shares of the company’s stock, valued at $29,752,337.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William F. Kreisher bought 1,446 shares of the company’s stock in a transaction on Wednesday, August 10th. The stock was purchased at an average cost of $67.17 per share, for a total transaction of $97,127.82. Following the completion of the transaction, the vice president now directly owns 39,572 shares of the company’s stock, valued at approximately $2,658,051.24. The disclosure for this purchase can be found here. 33.60% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in ATNI. PineBridge Investments L.P. boosted its position in Atlantic Tele-Network by 6.6% in the second quarter. PineBridge Investments L.P. now owns 1,372 shares of the company’s stock worth $107,000 after buying an additional 85 shares during the last quarter. First Mercantile Trust Co. bought a new position in Atlantic Tele-Network during the second quarter worth $126,000. Legal & General Group Plc boosted its position in Atlantic Tele-Network by 31.6% in the first quarter. Legal & General Group Plc now owns 2,308 shares of the company’s stock worth $176,000 after buying an additional 554 shares during the last quarter. Royal Bank of Canada boosted its position in Atlantic Tele-Network by 9.3% in the first quarter. Royal Bank of Canada now owns 2,841 shares of the company’s stock worth $215,000 after buying an additional 241 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in Atlantic Tele-Network by 92.7% in the second quarter. BNP Paribas Arbitrage SA now owns 3,521 shares of the company’s stock worth $274,000 after buying an additional 1,694 shares during the last quarter. 58.02% of the stock is currently owned by institutional investors and hedge funds.
About Atlantic Tele-Network
ATN International, Inc, formerly Atlantic Tele-Network, Inc, is a holding company. The Company, through its subsidiaries, provides wireless and wireline telecommunications services in North America, Bermuda and the Caribbean; owns and operates commercial distributed generation solar power systems in the United States, and owns and operates terrestrial and submarine fiber optic transport systems in the United States and the Caribbean, respectively.
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