ATN International (NASDAQ:ATNI) Reaches New 1-Year High Following Analyst Upgrade

Shares of ATN International, Inc. (NASDAQ:ATNI) hit a new 52-week high on Monday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The stock traded as high as $32.35 and last traded at $32.98, with a volume of 20331 shares changing hands. The stock had previously closed at $31.97.

Several other research firms have also recently weighed in on ATNI. Weiss Ratings reissued a “hold (c-)” rating on shares of ATN International in a research note on Friday. Wall Street Zen upgraded ATN International from a “hold” rating to a “buy” rating in a report on Saturday. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold”.

Insider Transactions at ATN International

In other ATN International news, major shareholder Cornelius B. Prior, Jr. sold 7,000 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $29.74, for a total transaction of $208,180.00. Following the transaction, the insider directly owned 74,436 shares in the company, valued at $2,213,726.64. This represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 84,064 shares of company stock valued at $2,364,786 over the last 90 days. 5.60% of the stock is owned by insiders.

Hedge Funds Weigh In On ATN International

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in ATN International by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 122,634 shares of the technology company’s stock valued at $3,338,000 after purchasing an additional 1,132 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of 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 buying an additional 2,397 shares in the last quarter. Strs Ohio acquired a new position in shares of ATN International during the first quarter worth about $138,000. Meeder Asset Management Inc. purchased a new stake in shares of ATN International during the second quarter worth approximately $217,000. Finally, Segall Bryant & Hamill LLC increased its stake in shares of ATN International by 49.3% during the first quarter. Segall Bryant & Hamill LLC now owns 29,341 shares of the technology company’s stock worth $799,000 after buying an additional 9,684 shares during the period. 65.50% of the stock is currently owned by hedge funds and other institutional investors.

ATN International Trading Down 2.6%

The company’s fifty day moving average is $25.63 and its two-hundred day moving average is $26.43. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.68. The stock has a market cap of $481.24 million, a price-to-earnings ratio of 3.04, a PEG ratio of 4.12 and a beta of 0.56.

ATN International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Tuesday, June 30th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Tuesday, June 30th. 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%.

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.