ATN International (NASDAQ:ATNI) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Wall Street Zen upgraded shares of ATN International (NASDAQ:ATNI) from a buy rating to a strong-buy rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other brokerages also recently issued reports on ATNI. Zacks Research raised shares of ATN International from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th. Weiss Ratings raised shares of ATN International from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, ATN International has a consensus rating of “Hold”.

ATN International Trading Down 1.1%

Shares of NASDAQ ATNI opened at $30.32 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.63 and a quick ratio of 1.59. The stock has a market capitalization of $466.93 million, a P/E ratio of 2.95, a price-to-earnings-growth ratio of 3.89 and a beta of 0.59. ATN International has a 1-year low of $13.86 and a 1-year high of $33.41. The business has a fifty day moving average price of $27.67 and a 200 day moving average price of $27.24.

ATN International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Tuesday, June 30th were issued a $0.29 dividend. This is a boost from ATN International’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, June 30th. ATN International’s dividend payout ratio is 11.28%.

Insider Activity

In related news, Director Patricia Jacobs sold 1,500 shares of the stock in a transaction that occurred on 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 transaction, the director directly owned 19,958 shares of the company’s stock, valued at $599,538.32. This trade represents a 6.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Cornelius B. Prior, Jr. sold 10,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $31.34, for a total transaction of $313,400.00. Following the completion of the transaction, the insider directly owned 37,165 shares of the company’s stock, valued at $1,164,751.10. The trade was a 21.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 53,271 shares of company stock valued at $1,649,663. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of ATN International in the second quarter worth $24,457,000. Brown Brothers Harriman & Co. grew its holdings in shares of ATN International by 5.6% during the third 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 during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of ATN International in the 2nd quarter valued at $3,323,000. Empowered Funds LLC acquired a new position in shares of ATN International in the 2nd quarter valued at $2,481,000. Finally, Gamco Investors INC. ET AL raised its stake in ATN International by 17.1% in the 2nd quarter. Gamco Investors INC. ET AL now owns 70,221 shares of the technology company’s stock worth $1,141,000 after acquiring an additional 10,253 shares during the last quarter. Institutional investors and hedge funds own 65.50% of the company’s stock.

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.