Cornelius Prior, Jr. Sells 2,000 Shares of ATN International (NASDAQ:ATNI) Stock

by · The Cerbat Gem

ATN International, Inc. (NASDAQ:ATNI – Get Free Report) major shareholder Cornelius Prior, Jr. sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $27.25, for a total value of $54,500.00. Following the transaction, the insider owned 186,000 shares in the company, valued at $5,068,500. This trade represents a 1.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

ATN International Price Performance

Shares of NASDAQ:ATNI traded down $0.74 during midday trading on Monday, reaching $27.63. 90,027 shares of the company’s stock traded hands, compared to its average volume of 62,900. ATN International, Inc. has a 1 year low of $13.86 and a 1 year high of $30.45. The company has a market cap of $424.95 million, a P/E ratio of -27.91, a PEG ratio of 3.83 and a beta of 0.54. 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 company has a fifty day simple moving average of $27.29 and a two-hundred day simple moving average of $25.47.

ATN International (NASDAQ:ATNI – Get Free Report) last announced its earnings results on Thursday, May 7th. The technology company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.30). ATN International had a negative net margin of 1.20% and a positive return on equity of 0.55%. The business had revenue of $182.22 million for the quarter, compared to analysts’ expectations of $183.40 million. Equities analysts predict that ATN International, Inc. will post 0.74 EPS for the current fiscal year.

ATN International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st were issued a $0.275 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $1.10 dividend on an annualized basis and a yield of 4.0%. ATN International’s dividend payout ratio (DPR) is presently -111.11%.

Institutional Trading of ATN International

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Segall Bryant & Hamill LLC increased its stake in shares of ATN International by 49.3% in 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 during the last quarter. Bank of New York Mellon Corp increased its stake in shares of ATN International by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 122,634 shares of the technology company’s stock worth $3,338,000 after acquiring an additional 1,132 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of ATN International in the 4th quarter worth $479,000. Brown Brothers Harriman & Co. increased 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 acquiring an additional 35,394 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in shares of ATN International by 9.6% in the 3rd quarter. Gamco Investors INC. ET AL now owns 76,936 shares of the technology company’s stock worth $1,152,000 after acquiring an additional 6,715 shares during the last quarter. 65.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Weiss Ratings upgraded ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Wall Street Zen lowered ATN International from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold”.

Read Our Latest Research Report on ATNI

Key Stories Impacting ATN International

Here are the key news stories impacting ATN International this week:

  • Negative Sentiment: Cornelius B. Prior, Jr. sold 19,100 shares at an average price of $27.96, reducing his stake by 17.84%. SEC filing
  • Negative Sentiment: Additional insider sales followed in multiple smaller transactions in June and May, including sales of 2,000, 6,000, 12,610, 17,500, and other shares, suggesting a sustained pattern of reducing ownership. SEC filing
  • Neutral Sentiment: The sales were executed at prices mostly in the $26.25 to $28.30 range, near where the stock has recently been trading, so the transactions may also reflect portfolio rebalancing or profit-taking rather than a fundamental shift. SEC filing

About ATN International

(Get Free Report)

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.

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