Insider Selling: ATN International (NASDAQ:ATNI) Major Shareholder Sells $313,400.00 in Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 10,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $31.34, for a total value of $313,400.00. Following the completion of the transaction, the insider directly owned 37,165 shares of the company’s stock, valued at approximately $1,164,751.10. The trade was a 21.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Major 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 ATNI stock opened at $30.06 on Friday. ATN International, Inc. has a 52 week low of $13.86 and a 52 week high of $33.41. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.59 and a current ratio of 1.63. The company’s 50 day moving average price is $26.83 and its two-hundred day moving average price is $27.05. The company has a market capitalization of $462.92 million, a P/E ratio of 2.92, a price-to-earnings-growth ratio of 3.81 and a beta of 0.56.

ATN International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Tuesday, June 30th were paid a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.9%. This is a positive change from ATN International’s previous quarterly dividend of $0.28. ATN International’s dividend payout ratio (DPR) is 11.28%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings upgraded shares of ATN International from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Zacks Research upgraded shares of ATN International from a “strong sell” rating to a “hold” rating in a research note on Monday, August 10th. Finally, Wall Street Zen upgraded ATN International from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, ATN International presently has an average rating of “Hold”.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Legal & General Group Plc acquired a new stake in shares of ATN International during the second quarter valued at about $25,000. California State Teachers Retirement System increased its position in shares of ATN International by 590.7% during the second quarter. California State Teachers Retirement System now owns 3,709 shares of the technology company’s stock worth $98,000 after buying an additional 3,172 shares during the period. Strs Ohio bought a new position in shares of ATN International in the 1st quarter worth about $138,000. Meeder Asset Management Inc. acquired a new position in ATN International in the second quarter valued at approximately $217,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of ATN International during the 2nd quarter valued at $220,000. 65.50% of the stock is currently 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.