Empowered Funds LLC Purchases New Position in ATN International, Inc. $ATNI

Empowered Funds LLC purchased a new stake in shares of ATN International, Inc. (NASDAQ:ATNI) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 93,650 shares of the technology company’s stock, valued at approximately $2,481,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Legal & General Group Plc bought a new stake in shares of ATN International in the 2nd quarter worth approximately $25,000. Strs Ohio bought a new position in shares of ATN International during the first quarter valued at approximately $138,000. Meeder Asset Management Inc. bought a new position in shares of ATN International during the second quarter valued at approximately $217,000. Canada Pension Plan Investment Board purchased a new stake in ATN International in the second quarter worth $220,000. Finally, Deutsche Bank AG purchased a new stake in ATN International in the second quarter worth $262,000. Hedge funds and other institutional investors own 65.50% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Cornelius B. Prior, Jr. sold 10,000 shares of the 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 in the company, valued at $1,164,751.10. This trade represents a 21.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Patricia Jacobs sold 1,500 shares of ATN International stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $30.04, for a total transaction of $45,060.00. Following the transaction, the director directly owned 19,958 shares of the company’s stock, valued at approximately $599,538.32. This trade represents a 6.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 74,371 shares of company stock worth $2,238,299. Company insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

ATNI has been the topic of several recent analyst reports. Zacks Research upgraded shares of ATN International from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. Wall Street Zen upgraded shares of ATN International from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Weiss Ratings raised shares of ATN International from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

ATN International Trading Up 2.6%

NASDAQ ATNI opened at $30.91 on Thursday. The company has a quick ratio of 1.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.68. ATN International, Inc. has a twelve month low of $13.86 and a twelve month high of $33.41. The firm has a market capitalization of $476.01 million, a PE ratio of 3.01, a P/E/G ratio of 3.86 and a beta of 0.59. The stock’s 50 day moving average is $27.07 and its 200 day moving average is $27.13.

ATN International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.29 per share. This is an increase from ATN International’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, June 30th. ATN International’s payout ratio is 11.28%.

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.