ATN International (NASDAQ:ATNI) Major Shareholder Cornelius Prior, Jr. Sells 7,000 Shares of Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 7,000 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $32.55, for a total transaction of $227,850.00. Following the completion of the sale, the insider owned 66,936 shares of the company’s stock, valued at approximately $2,178,766.80. This represents a 9.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

ATN International Stock Down 0.8%

Shares of ATNI traded down $0.25 during mid-day trading on Wednesday, hitting $31.04. The company’s stock had a trading volume of 76,083 shares, compared to its average volume of 82,366. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.68. The company’s 50-day moving average is $25.74 and its 200-day moving average is $26.49. ATN International, Inc. has a 52-week low of $13.86 and a 52-week high of $33.41. The firm has a market capitalization of $478.02 million, a price-to-earnings ratio of 3.02, a PEG ratio of 4.01 and a beta of 0.56.

ATN International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Tuesday, June 30th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.7%. This is a positive change from ATN International’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Tuesday, June 30th. ATN International’s payout ratio is presently 11.28%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ATNI shares. Zacks Research upgraded ATN International from a “strong sell” rating to a “hold” rating in a report on Monday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ATN International in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded ATN International from a “hold” rating to a “buy” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, ATN International presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On ATN International

A number of large investors have recently made changes to their positions in ATNI. BlackRock Inc. purchased a new stake in shares of ATN International during the 2nd quarter valued at $24,457,000. Brown Brothers Harriman & Co. grew its stake in ATN International by 5.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company’s stock worth $9,918,000 after buying an additional 35,394 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in ATN International during the 2nd quarter valued at about $3,323,000. Gamco Investors INC. ET AL raised its stake in 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 buying an additional 10,253 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in 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 acquiring an additional 27,714 shares in the last quarter. 65.50% of the stock is owned by institutional investors and hedge funds.

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.