BlackRock Inc. Acquires New Shares in ATN International, Inc. $ATNI

BlackRock Inc. acquired a new position in ATN International, Inc. (NASDAQ:ATNI) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 923,255 shares of the technology company’s stock, valued at approximately $24,457,000. BlackRock Inc. owned 0.06% of ATN International at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Deutsche Bank AG bought a new position in ATN International during the second quarter valued at about $262,000. Bank of New York Mellon Corp bought a new stake in shares of ATN International during the 2nd quarter worth about $3,323,000. Segall Bryant & Hamill LLC boosted its stake in shares of ATN International by 49.3% during the 1st quarter. Segall Bryant & Hamill LLC now owns 29,341 shares of the technology company’s stock worth $799,000 after acquiring an additional 9,684 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of ATN International during the 4th quarter worth about $479,000. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of ATN International by 5.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company’s stock valued at $9,918,000 after acquiring an additional 35,394 shares during the last quarter. 65.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ATN International

In related news, Director Patricia Jacobs sold 1,500 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $30.04, for a total value of $45,060.00. Following the completion of the sale, the director owned 19,958 shares in the company, valued at approximately $599,538.32. This trade represents a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Cornelius B. Prior, Jr. sold 19,100 shares of ATN International stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $27.96, for a total value of $534,036.00. Following the sale, the insider directly owned 87,936 shares in the company, valued at approximately $2,458,690.56. This trade represents a 17.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 74,371 shares of company stock valued at $2,238,299 in the last ninety days. 5.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ATNI. Zacks Research upgraded shares of ATN International from a “strong sell” rating to a “hold” rating in a research note on Monday, August 10th. Wall Street Zen upgraded shares of ATN International from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Weiss Ratings upgraded ATN International from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

ATN International Trading Up 2.6%

Shares of ATN International stock opened at $30.91 on Thursday. ATN International, Inc. has a 1 year low of $13.86 and a 1 year high of $33.41. The company’s fifty day simple moving average is $27.07 and its 200-day simple moving average is $27.13. The company has a market cap of $476.01 million, a price-to-earnings ratio of 3.01, a PEG ratio of 3.86 and a beta of 0.59. The company has a current ratio of 1.63, a quick ratio of 1.59 and a debt-to-equity ratio of 0.68.

ATN International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, June 30th. This is a positive change from ATN International’s previous quarterly dividend of $0.28. ATN International’s payout ratio is presently 11.28%.

ATN International 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.