Insider Selling: ATN International (NASDAQ:ATNI) Major Shareholder Sells $13,550.00 in Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 500 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $27.10, for a total value of $13,550.00. Following the transaction, the insider directly owned 86,436 shares of the company’s stock, valued at approximately $2,342,415.60. This trade represents a 0.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

ATN International Trading Down 0.2%

ATN International stock opened at $26.44 on Thursday. The company has a current ratio of 1.21, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. The business’s fifty day simple moving average is $27.15 and its two-hundred day simple moving average is $25.90. ATN International, Inc. has a 12 month low of $13.86 and a 12 month high of $30.45. The company has a market capitalization of $406.65 million, a price-to-earnings ratio of -26.71, a price-to-earnings-growth ratio of 3.58 and a beta of 0.55.

ATN International (NASDAQ:ATNI) last released its earnings results on Thursday, May 7th. The technology company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $182.22 million during the quarter, compared to analysts’ expectations of $183.40 million. As a group, equities analysts predict that ATN International, Inc. will post 0.74 earnings per share for the current fiscal year.

ATN International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Tuesday, June 30th will be given a dividend of $0.29 per share. This is a positive change from ATN International’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.16 annualized dividend and a yield of 4.4%. ATN International’s payout ratio is currently -117.17%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATNI. Strs Ohio bought a new stake in ATN International in the 1st quarter worth approximately $138,000. Marshall Wace LLP raised its stake in ATN International by 137.9% during the 2nd quarter. Marshall Wace LLP now owns 47,804 shares of the technology company’s stock valued at $777,000 after buying an additional 27,714 shares during the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of ATN International by 17.1% during the 2nd quarter. Gamco Investors INC. ET AL now owns 70,221 shares of the technology company’s stock valued at $1,141,000 after buying an additional 10,253 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of ATN International by 7.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company’s stock worth $583,000 after buying an additional 2,397 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of 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 buying an additional 35,394 shares during the last quarter. Institutional investors own 65.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ATNI shares. Weiss Ratings raised shares of ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Wall Street Zen downgraded shares of ATN International from a “buy” rating to a “hold” rating in a research report on Saturday, March 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”.

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.