Gabelli Funds LLC Cuts Stock Holdings in ATN International, Inc. $ATNI

Gabelli Funds LLC cut its holdings in ATN International, Inc. (NASDAQ:ATNI) by 16.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 157,525 shares of the technology company’s stock after selling 31,175 shares during the period. Gabelli Funds LLC’s holdings in ATN International were worth $3,592,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Strs Ohio purchased a new position in ATN International in the first quarter valued at about $138,000. Marshall Wace LLP raised its position 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 valued at $777,000 after purchasing an additional 27,714 shares during the period. Gamco Investors INC. ET AL raised its position in shares of ATN International by 17.1% in the second quarter. Gamco Investors INC. ET AL now owns 70,221 shares of the technology company’s stock valued at $1,141,000 after purchasing an additional 10,253 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of ATN International by 7.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company’s stock valued at $583,000 after buying an additional 2,397 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its stake in ATN International by 5.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company’s stock valued at $9,918,000 after buying an additional 35,394 shares in the last quarter. 65.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

ATN International Stock Performance

Shares of NASDAQ ATNI opened at $27.25 on Friday. The stock has a market cap of $419.11 million, a price-to-earnings ratio of -27.52, a P/E/G ratio of 6.14 and a beta of 0.54. The company has a current ratio of 1.21, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. ATN International, Inc. has a 1-year low of $13.76 and a 1-year high of $30.45. The stock’s 50-day moving average is $27.05 and its 200 day moving average is $24.43.

ATN International (NASDAQ:ATNI) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.30). ATN International had a negative net margin of 1.20% and a positive return on equity of 0.55%. The firm had revenue of $182.22 million for the quarter, compared to analysts’ expectations of $183.40 million. On average, sell-side analysts anticipate that ATN International, Inc. will post 0.44 EPS for the current fiscal year.

ATN International Dividend Announcement

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

ATN International 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.