ATN International (NASDAQ:ATNI) Major Shareholder Cornelius Prior, Jr. Sells 2,500 Shares of Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $28.25, for a total transaction of $70,625.00. Following the transaction, the insider owned 127,646 shares in the company, valued at $3,605,999.50. The trade was a 1.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

ATN International Trading Down 2.6%

NASDAQ:ATNI opened at $27.63 on Tuesday. ATN International, Inc. has a 12 month low of $13.86 and a 12 month high of $30.45. The firm has a fifty day simple moving average of $27.29 and a 200-day simple moving average of $25.47. The company has a current ratio of 1.21, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $424.95 million, a P/E ratio of -27.91, a PEG ratio of 3.83 and a beta of 0.54.

ATN International (NASDAQ:ATNI) last released its earnings results on Thursday, May 7th. The technology company reported ($0.18) earnings per share (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%. On average, equities research analysts anticipate that ATN International, Inc. will post 0.74 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Weiss Ratings upgraded ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Wall Street Zen lowered ATN International from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, ATN International has an average rating of “Hold”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strs Ohio purchased a new stake in ATN International in the first quarter valued at $138,000. Segall Bryant & Hamill LLC acquired a new position in shares of ATN International in the 4th quarter valued at about $448,000. Hillsdale Investment Management Inc. acquired a new position in shares of ATN International in the 4th quarter valued at about $479,000. Ameriprise Financial Inc. boosted its stake 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 during the last quarter. Finally, Marshall Wace LLP boosted its stake 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 during the last quarter. 65.50% of the stock is currently owned by institutional investors and hedge funds.

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

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.