Cornelius Prior, Jr. Sells 7,000 Shares of ATN International (NASDAQ:ATNI) Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 7,000 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.74, for a total value of $208,180.00. Following the transaction, the insider directly owned 74,436 shares of the company’s stock, valued at approximately $2,213,726.64. The trade was a 8.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

ATN International Price Performance

Shares of ATNI stock traded down $0.13 during mid-day trading on Monday, hitting $31.84. 116,686 shares of the stock traded hands, compared to its average volume of 74,146. ATN International, Inc. has a twelve month low of $13.86 and a twelve month high of $33.41. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.16 and a current ratio of 1.63. The company’s 50-day simple moving average is $25.50 and its 200-day simple moving average is $26.30. The firm has a market cap of $489.72 million, a price-to-earnings ratio of 3.11, a price-to-earnings-growth ratio of 4.10 and a beta of 0.56.

ATN International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Tuesday, June 30th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This is an increase from ATN International’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 3.6%. ATN International’s dividend payout ratio is presently 11.28%.

Hedge Funds Weigh In On ATN International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. acquired a new stake in shares of ATN International in the fourth quarter worth $479,000. Bank of New York Mellon Corp acquired a new position in ATN International in the 2nd quarter valued at $3,323,000. Segall Bryant & Hamill LLC bought a new position in ATN International in the 4th quarter worth $448,000. Brown Brothers Harriman & Co. raised its holdings in ATN International by 5.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company’s stock worth $9,918,000 after acquiring an additional 35,394 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in ATN International by 7.2% during the 2nd 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 during the last quarter. Institutional investors and hedge funds own 65.50% of the company’s stock.

Wall Street Analyst Weigh In

ATNI has been the subject of a number of research reports. Wall Street Zen raised ATN International from a “hold” rating to a “buy” rating in a research report on Saturday. 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. Finally, Zacks Research downgraded shares of ATN International from a “hold” rating to a “strong sell” rating in a research report on Friday, July 10th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce”.

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.