Insider Selling: ATN International (NASDAQ:ATNI) Major Shareholder Sells 2,000 Shares of Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $27.25, for a total transaction of $54,500.00. Following the sale, the insider directly owned 180,500 shares in the company, valued at approximately $4,918,625. The trade was a 1.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

ATN International Stock Performance

Shares of NASDAQ ATNI traded down $0.74 during trading on Monday, reaching $27.63. 90,027 shares of the company traded hands, compared to its average volume of 62,900. The firm has a 50 day simple moving average of $27.29 and a 200-day simple moving average of $25.47. The company has a quick ratio of 1.16, a current ratio of 1.21 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $424.95 million, a PE ratio of -27.91, a P/E/G ratio of 3.83 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.

ATN International (NASDAQ:ATNI) last posted its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.30). The business had revenue of $182.22 million during the quarter, compared to analysts’ expectations of $183.40 million. ATN International had a positive return on equity of 0.55% and a negative net margin of 1.20%. Equities research analysts anticipate that ATN International, Inc. will post 0.74 earnings per share for the current year.

ATN International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Tuesday, March 31st were issued a $0.275 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.0%. ATN International’s dividend payout ratio (DPR) is presently -111.11%.

Analyst Upgrades and Downgrades

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

ATN International News Roundup

Here are the key news stories impacting ATN International this week:

• Negative Sentiment: Cornelius B. Prior, Jr. sold 19,100 shares at an average price of $27.96, reducing his stake by 17.84%. SEC filing
• Negative Sentiment: Additional insider sales followed in multiple smaller transactions in June and May, including sales of 2,000, 6,000, 12,610, 17,500, and other shares, suggesting a sustained pattern of reducing ownership. SEC filing
• Neutral Sentiment: The sales were executed at prices mostly in the $26.25 to $28.30 range, near where the stock has recently been trading, so the transactions may also reflect portfolio rebalancing or profit-taking rather than a fundamental shift. SEC filing

Institutional Investors Weigh In On ATN International

Several institutional investors and hedge funds have recently modified their holdings of the stock. Brown Brothers Harriman & Co. raised 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 raised its position in shares of ATN International by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 122,634 shares of the technology company’s stock valued at $3,338,000 after buying an additional 1,132 shares during the last quarter. Gamco Investors INC. ET AL raised its position in shares of ATN International by 9.6% during the third quarter. Gamco Investors INC. ET AL now owns 76,936 shares of the technology company’s stock valued at $1,152,000 after buying an additional 6,715 shares during the last quarter. Marshall Wace LLP raised its position in shares of ATN International by 137.9% during the second quarter. Marshall Wace LLP now owns 47,804 shares of the technology company’s stock valued at $777,000 after buying an additional 27,714 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of ATN International by 7.2% during the second quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company’s stock valued at $583,000 after buying an additional 2,397 shares during the last quarter. Institutional investors own 65.50% of the company’s stock.

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.