ATN International (NASDAQ:ATNI) Major Shareholder Cornelius Prior, Jr. Sells 500 Shares

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 500 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $27.10, for a total transaction of $13,550.00. Following the completion of the transaction, the insider owned 86,436 shares in the company, valued at $2,342,415.60. This represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

ATN International Stock Performance

Shares of NASDAQ:ATNI opened at $27.69 on Tuesday. The firm’s 50 day simple moving average is $27.22 and its 200-day simple moving average is $25.83. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.21. ATN International, Inc. has a one year low of $13.86 and a one year high of $30.45. The firm has a market cap of $425.87 million, a PE ratio of -27.97, a price-to-earnings-growth ratio of 3.65 and a beta of 0.54.

ATN International (NASDAQ:ATNI) last announced its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.18) earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $183.40 million. As a group, equities analysts predict that ATN International, Inc. will post 0.74 EPS for the current year.

ATN International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.29 per share. This is a boost from ATN International’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.16 dividend on an annualized basis and a yield of 4.2%. ATN International’s dividend payout ratio is presently -111.11%.

Institutional Trading of ATN International

Hedge funds have recently modified their holdings of the company. Brown Brothers Harriman & Co. boosted its holdings in shares of 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. Bank of New York Mellon Corp raised its stake in shares of ATN International by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 122,634 shares of the technology company’s stock worth $3,338,000 after acquiring an additional 1,132 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in ATN International by 9.6% during the third quarter. Gamco Investors INC. ET AL now owns 76,936 shares of the technology company’s stock valued at $1,152,000 after acquiring an additional 6,715 shares during the last quarter. Marshall Wace LLP lifted its position in ATN International by 137.9% during the second quarter. Marshall Wace LLP now owns 47,804 shares of the technology company’s stock valued at $777,000 after acquiring an additional 27,714 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in ATN International by 7.2% in the second quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company’s stock valued at $583,000 after acquiring an additional 2,397 shares in the last quarter. 65.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.