ATN International (NASDAQ:ATNI) Major Shareholder Sells 4,500 Shares of Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 4,500 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $31.03, for a total transaction of $139,635.00. Following the completion of the sale, the insider owned 25,541 shares of the company’s stock, valued at approximately $792,537.23. This represents a 14.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

ATN International Stock Down 1.5%

Shares of ATNI traded down $0.44 during trading hours on Friday, reaching $28.73. 156,605 shares of the stock traded hands, compared to its average volume of 75,994. ATN International, Inc. has a 52 week low of $13.86 and a 52 week high of $33.41. The company has a market cap of $442.53 million, a price-to-earnings ratio of 2.79, a PEG ratio of 3.82 and a beta of 0.59. The stock has a fifty day simple moving average of $28.10 and a 200 day simple moving average of $27.27. The company has a current ratio of 1.63, a quick ratio of 1.59 and a debt-to-equity ratio of 0.68.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC purchased a new stake in shares of ATN International during the 2nd quarter worth approximately $2,481,000. Bank of America Corp DE purchased a new position in ATN International in the second quarter valued at approximately $678,000. Hsbc Holdings PLC bought a new position in ATN International during the second quarter valued at $339,000. Canada Pension Plan Investment Board bought a new position in ATN International during the second quarter valued at $220,000. Finally, Legal & General Group Plc bought a new position in ATN International during the second quarter valued at $25,000. 65.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ATNI has been the topic of several recent analyst reports. Wall Street Zen raised shares of ATN International from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 12th. Zacks Research raised ATN International from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. Finally, Weiss Ratings raised ATN International from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

About ATN International

ATN International, Inc is a telecommunications company that provides wireless and wireline communications services in rural and underserved markets. Its offerings include mobile and fixed wireless connectivity, broadband internet, voice services, fiber and enterprise connectivity, managed information technology services, wholesale telecommunications, and related infrastructure services.

The company serves customers in selected markets across the United States and the Caribbean. Its operations have included telecommunications networks and broadband services in Alaska and other rural U.S.