Insider Selling: ATN International (NASDAQ:ATNI) Major Shareholder Sells 3,500 Shares of Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $27.02, for a total transaction of $94,570.00. Following the completion of the transaction, the insider owned 182,500 shares of the company’s stock, valued at $4,931,150. The trade was a 1.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

ATN International Price Performance

Shares of NASDAQ:ATNI traded down $0.74 during midday trading on Monday, hitting $27.63. The stock had a trading volume of 90,027 shares, compared to its average volume of 62,900. The company’s 50-day moving average price is $27.29 and its 200-day moving average price is $25.47. The company has a market capitalization of $424.95 million, a P/E ratio of -27.91, a price-to-earnings-growth ratio of 3.83 and a beta of 0.54. The company has a quick ratio of 1.16, a current ratio of 1.21 and a debt-to-equity ratio of 1.01. ATN International, Inc. has a fifty-two week low of $13.86 and a fifty-two week high of $30.45.

ATN International (NASDAQ:ATNI) last issued its earnings results on Thursday, May 7th. The technology company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.30). The firm had revenue of $182.22 million during the quarter, compared to analyst estimates of $183.40 million. ATN International had a negative net margin of 1.20% and a positive return on equity of 0.55%. As a group, equities research analysts predict that ATN International, Inc. will post 0.74 EPS for the current fiscal year.

ATN International Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently commented on ATNI shares. Weiss Ratings upgraded shares of ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Wall Street Zen cut shares of ATN International from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On ATN International

A number of institutional investors have recently added to or reduced their stakes in ATNI. Brown Brothers Harriman & Co. increased its position in ATN International by 5.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company’s stock worth $9,918,000 after purchasing an additional 35,394 shares in the last quarter. Marshall Wace LLP increased its position in ATN International by 137.9% during the 2nd quarter. Marshall Wace LLP now owns 47,804 shares of the technology company’s stock worth $777,000 after purchasing an additional 27,714 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in ATN International during the 4th quarter worth approximately $479,000. Segall Bryant & Hamill LLC acquired a new position in ATN International during the 4th quarter worth approximately $448,000. Finally, Gamco Investors INC. ET AL increased its position in ATN International by 17.1% during the 2nd quarter. Gamco Investors INC. ET AL now owns 70,221 shares of the technology company’s stock worth $1,141,000 after purchasing an additional 10,253 shares in the last quarter. 65.50% of the stock is currently owned by institutional investors and hedge funds.

More ATN International News

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

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.