Insider Selling: ATN International (NASDAQ:ATNI) Major Shareholder Sells 2,000 Shares of Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $27.30, for a total transaction of $54,600.00. Following the completion of the transaction, the insider owned 107,036 shares of the company’s stock, valued at $2,922,082.80. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major 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%

ATNI stock traded down $0.74 during trading on Monday, hitting $27.63. The company had a trading volume of 90,027 shares, compared to its average volume of 62,900. The company has a quick ratio of 1.16, a current ratio of 1.21 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average price of $27.29 and a 200-day moving average price of $25.47. ATN International, Inc. has a 12 month low of $13.86 and a 12 month high of $30.45. The stock has a market cap of $424.95 million, a price-to-earnings ratio of -27.91, a PEG ratio of 3.83 and a beta of 0.54.

ATN International (NASDAQ:ATNI) last posted 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 positive return on equity of 0.55% and a negative net margin of 1.20%.The company had revenue of $182.22 million during the quarter, compared to the consensus estimate of $183.40 million. As a group, analysts predict that ATN International, Inc. will post 0.74 earnings per share for the current year.

ATN International Dividend Announcement

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

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in 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 equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Hedge Funds Weigh In On ATN International

Several institutional investors and hedge funds have recently made changes to their positions in ATNI. Hillsdale Investment Management Inc. acquired a new stake in ATN International during the 4th quarter worth $479,000. Gamco Investors INC. ET AL lifted its holdings in ATN International by 9.6% during the third quarter. Gamco Investors INC. ET AL now owns 76,936 shares of the technology company’s stock worth $1,152,000 after acquiring an additional 6,715 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in ATN International by 5.6% during the third quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company’s stock worth $9,918,000 after acquiring an additional 35,394 shares in the last quarter. Marshall Wace LLP lifted its holdings in ATN International by 137.9% during the second quarter. Marshall Wace LLP now owns 47,804 shares of the technology company’s stock worth $777,000 after acquiring an additional 27,714 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in ATN International by 7.2% during the second quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company’s stock worth $583,000 after acquiring an additional 2,397 shares in the last quarter. Institutional investors and hedge funds own 65.50% of the company’s stock.

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.