Cornelius Prior, Jr. Sells 17,500 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 17,500 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $28.17, for a total value of $492,975.00. Following the completion of the transaction, the insider owned 160,146 shares in the company, valued at $4,511,312.82. This represents a 9.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 Stock Down 2.6%

Shares of ATNI traded down $0.74 during trading hours on Monday, reaching $27.63. The company’s stock had a trading volume of 90,027 shares, compared to its average volume of 62,900. The firm has a market cap of $424.95 million, a price-to-earnings ratio of -27.91, a P/E/G ratio of 3.83 and a beta of 0.54. ATN International, Inc. has a 1-year low of $13.86 and a 1-year high of $30.45. The company has a quick ratio of 1.16, a current ratio of 1.21 and a debt-to-equity ratio of 1.01. The company has a 50 day moving average of $27.29 and a two-hundred day moving average of $25.47.

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

ATN International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 10th. Stockholders 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 dividend yield of 4.0%. ATN International’s dividend payout ratio is currently -111.11%.

Hedge Funds Weigh In On ATN International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATNI. Strs Ohio acquired a new position in ATN International during the first quarter valued at approximately $138,000. Segall Bryant & Hamill LLC acquired a new position in ATN International during the fourth quarter valued at approximately $448,000. Hillsdale Investment Management Inc. acquired a new position in ATN International during the fourth quarter valued at approximately $479,000. Ameriprise Financial Inc. grew its holdings in ATN International by 7.2% during the second quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company’s stock valued at $583,000 after purchasing an additional 2,397 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in ATN International by 137.9% during the second quarter. Marshall Wace LLP now owns 47,804 shares of the technology company’s stock valued at $777,000 after purchasing an additional 27,714 shares during the last quarter. Institutional investors and hedge funds own 65.50% of the company’s stock.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented 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 downgraded ATN International from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Check Out Our Latest Research Report on ATN International

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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