Gabelli Funds LLC Reduces Stock Holdings in ATN International, Inc. $ATNI

Gabelli Funds LLC lowered its stake in shares of ATN International, Inc. (NASDAQ:ATNI) by 26.1% during the first quarter, Holdings Channel reports. The firm owned 116,373 shares of the technology company’s stock after selling 41,152 shares during the period. Gabelli Funds LLC’s holdings in ATN International were worth $3,168,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ATNI. Strs Ohio purchased a new position in shares of ATN International in the 1st quarter valued at $138,000. Marshall Wace LLP lifted its position in 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 acquiring an additional 27,714 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in 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 acquiring an additional 10,253 shares during the last quarter. 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. Finally, Brown Brothers Harriman & Co. boosted its stake in 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 acquiring an additional 35,394 shares in the last quarter. Institutional investors and hedge funds own 65.50% of the company’s stock.

Insiders Place Their Bets

In other ATN International news, major shareholder Cornelius B. Prior, Jr. sold 5,000 shares of ATN International stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $27.65, for a total value of $138,250.00. Following the transaction, the insider directly owned 81,436 shares in the company, valued at approximately $2,251,705.40. This trade represents a 5.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 88,564 shares of company stock worth $2,457,901. 5.60% of the stock is currently owned by company insiders.

ATN International Price Performance

Shares of NASDAQ:ATNI opened at $24.04 on Wednesday. The company has a 50-day simple moving average of $25.79 and a 200-day simple moving average of $26.08. ATN International, Inc. has a one year low of $13.86 and a one year high of $30.45. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.21. The stock has a market capitalization of $369.76 million, a price-to-earnings ratio of -24.28, a PEG ratio of 3.95 and a beta of 0.55.

ATN International (NASDAQ:ATNI) last announced its earnings results on Thursday, May 7th. The technology company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.30). ATN International had a positive return on equity of 0.55% and a negative net margin of 1.20%.The business had revenue of $182.22 million for the quarter, compared to analyst estimates of $183.40 million. On average, analysts predict that ATN International, Inc. will post 0.6 EPS for the current year.

ATN International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend 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 -117.17%.

Wall Street Analysts Forecast Growth

ATNI has been the subject of a number of research analyst reports. Weiss Ratings raised ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Zacks Research cut ATN International from a “hold” rating to a “strong sell” rating in a research note on Friday, July 10th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce”.

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.