ATN International (NASDAQ:ATNI) Major Shareholder Cornelius Prior, Jr. Sells 19,100 Shares

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 19,100 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $27.96, for a total value of $534,036.00. Following the completion of the transaction, the insider directly owned 87,936 shares of the company’s stock, valued at approximately $2,458,690.56. This represents a 17.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

ATN International Stock Performance

NASDAQ ATNI traded down $0.74 on Monday, hitting $27.63. 90,027 shares of the stock traded hands, compared to its average volume of 62,900. The business’s fifty day moving average is $27.29 and its two-hundred day moving average is $25.47. ATN International, Inc. has a 12 month low of $13.86 and a 12 month high of $30.45. The firm has a market capitalization of $424.95 million, a price-to-earnings ratio of -27.91, a PEG ratio of 3.83 and a beta of 0.54. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.21.

ATN International (NASDAQ:ATNI) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.18) earnings per share 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 firm had revenue of $182.22 million for the quarter, compared to the consensus estimate of $183.40 million. As a group, equities analysts anticipate that ATN International, Inc. will post 0.74 EPS for the current fiscal year.

ATN International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Tuesday, March 31st. ATN International’s dividend payout ratio is -111.11%.

Key Headlines Impacting ATN International

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

Hedge Funds Weigh In On ATN International

A number of large investors have recently made changes to their positions in ATNI. Strs Ohio bought a new position in shares of ATN International in the first quarter worth $138,000. Marshall Wace LLP raised its position in shares of ATN International by 137.9% in the second quarter. Marshall Wace LLP now owns 47,804 shares of the technology company’s stock worth $777,000 after buying an additional 27,714 shares in the last quarter. Gamco Investors INC. ET AL raised its position in shares of ATN International by 17.1% in the second quarter. Gamco Investors INC. ET AL now owns 70,221 shares of the technology company’s stock worth $1,141,000 after buying an additional 10,253 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of ATN International by 7.2% in the second quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company’s stock worth $583,000 after buying an additional 2,397 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in shares of ATN International by 5.6% in the third quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company’s stock worth $9,918,000 after buying an additional 35,394 shares in the last quarter. 65.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ATNI shares. Weiss Ratings raised ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Wall Street Zen lowered ATN International from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus 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.