Insider Selling: ATN International (NASDAQ:ATNI) Major Shareholder Sells 2,854 Shares of Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 2,854 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $27.96, for a total transaction of $79,797.84. Following the transaction, the insider directly owned 177,646 shares in the company, valued at approximately $4,966,982.16. This represents a 1.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

ATN International Stock Down 2.6%

NASDAQ ATNI traded down $0.74 on Monday, hitting $27.63. 90,027 shares of the company were exchanged, compared to its average volume of 62,900. The company has a market cap of $424.95 million, a PE ratio of -27.91, a PEG ratio of 3.83 and a beta of 0.54. ATN International, Inc. has a 12 month low of $13.86 and a 12 month high of $30.45. The stock has a fifty day moving average of $27.29 and a 200-day moving average of $25.47. The company has a current ratio of 1.21, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01.

ATN International (NASDAQ:ATNI) last issued its earnings results on Thursday, May 7th. The technology company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.30). The company had revenue of $182.22 million for the quarter, compared to the consensus estimate of $183.40 million. ATN International had a positive return on equity of 0.55% and a negative net margin of 1.20%. As a group, analysts forecast that ATN International, Inc. will post 0.74 earnings per share for the current year.

ATN International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Tuesday, March 31st were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.10 annualized dividend and a yield of 4.0%. ATN International’s dividend payout ratio is currently -111.11%.

Analysts Set New Price Targets

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

Key ATN International News

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

Institutional Trading of ATN International

Several institutional investors and hedge funds have recently made changes to their positions in ATNI. Strs Ohio purchased a new stake in shares of ATN International in the first quarter valued at about $138,000. Marshall Wace LLP raised its holdings in shares of ATN International by 137.9% in the second quarter. Marshall Wace LLP now owns 47,804 shares of the technology company’s stock valued at $777,000 after purchasing an additional 27,714 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of 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 purchasing an additional 10,253 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of 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 purchasing an additional 2,397 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of ATN International by 5.6% in the third quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company’s stock valued at $9,918,000 after purchasing an additional 35,394 shares during the last quarter. Hedge funds and other institutional investors own 65.50% of the company’s stock.

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.