ATN International (NASDAQ:ATNI) Hits New 52-Week High – Still a Buy?

ATN International, Inc. (NASDAQ:ATNI)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $32.35 and last traded at $32.98, with a volume of 20331 shares trading hands. The stock had previously closed at $31.97.

Analyst Ratings Changes

A number of research analysts have recently commented on ATNI shares. Zacks Research cut ATN International from a “hold” rating to a “strong sell” rating in a research note on Friday, July 10th. Wall Street Zen raised ATN International from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings upgraded ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

ATN International Stock Performance

The firm’s fifty day moving average price is $25.50 and its 200 day moving average price is $26.30. The firm has a market cap of $507.91 million, a P/E ratio of 3.18, a price-to-earnings-growth ratio of 4.10 and a beta of 0.56. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.16 and a current ratio of 1.63.

ATN International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Tuesday, June 30th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.5%. This is a positive change from ATN International’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Tuesday, June 30th. ATN International’s payout ratio is presently 11.28%.

Insiders Place Their Bets

In other ATN International news, major shareholder Cornelius B. Prior, Jr. sold 5,000 shares of the 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 sale, the insider owned 81,436 shares of the company’s stock, valued at approximately $2,251,705.40. This trade represents a 5.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 76,564 shares of company stock worth $2,141,021 in the last ninety days. 5.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ATNI. Meeder Asset Management Inc. purchased a new stake in shares of ATN International during the 2nd quarter worth $217,000. BlackRock Inc. purchased a new position in ATN International in the second quarter valued at about $24,457,000. Deutsche Bank AG bought a new position in ATN International in the second quarter worth about $262,000. Bank of New York Mellon Corp bought a new position in ATN International in the second quarter worth about $3,323,000. Finally, Segall Bryant & Hamill LLC lifted its position in shares of ATN International by 49.3% during the first quarter. Segall Bryant & Hamill LLC now owns 29,341 shares of the technology company’s stock valued at $799,000 after buying an additional 9,684 shares during the last quarter. 65.50% of the stock is owned by institutional investors.

About ATN International

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.