ATN International (NASDAQ:ATNI) Major Shareholder Cornelius Prior, Jr. Sells 19,100 Shares of Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 19,100 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $27.96, for a total transaction of $534,036.00. Following the completion of the sale, the insider directly owned 87,936 shares in the company, valued at $2,458,690.56. This represents a 17.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

ATN International Trading Down 2.6%

Shares of ATNI opened at $27.63 on Tuesday. The firm’s 50 day simple moving average is $27.29 and its 200 day simple moving average is $25.47. The company has a market capitalization of $424.95 million, a P/E ratio of -27.91, a P/E/G ratio of 3.83 and a beta of 0.54. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 1.16. ATN International, Inc. has a 1-year low of $13.86 and a 1-year high of $30.45.

ATN International (NASDAQ:ATNI) last announced its earnings results 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). The company had revenue of $182.22 million during the quarter, compared to analysts’ expectations of $183.40 million. ATN International had a negative net margin of 1.20% and a positive return on equity of 0.55%. Sell-side analysts forecast that ATN International, Inc. will post 0.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of ATN International from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings raised shares of ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Strs Ohio purchased a new position in shares of ATN International during the first quarter worth approximately $138,000. Segall Bryant & Hamill LLC purchased a new position in shares of ATN International during the fourth quarter worth approximately $448,000. Hillsdale Investment Management Inc. purchased a new position in shares of ATN International during the fourth quarter worth approximately $479,000. Ameriprise Financial Inc. raised its stake 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 acquiring an additional 2,397 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of 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. 65.50% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting ATN International

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

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.