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

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 2,000 shares of ATN International stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $27.25, for a total transaction of $54,500.00. Following the completion of the sale, the insider owned 180,500 shares of the company’s stock, valued at $4,918,625. This trade represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

ATN International Trading Down 2.6%

Shares of ATN International stock opened at $27.63 on Tuesday. The firm’s 50 day simple moving average is $27.29 and its two-hundred day simple moving average is $25.47. The firm has a market capitalization of $424.95 million, a price-to-earnings ratio of -27.91, a PEG ratio of 3.83 and a beta of 0.54. ATN International, Inc. has a 12-month low of $13.86 and a 12-month high of $30.45. The company has a current ratio of 1.21, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01.

ATN International (NASDAQ:ATNI) last posted its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.18) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.30). The company had revenue of $182.22 million for the quarter, compared to analyst estimates of $183.40 million. ATN International had a positive return on equity of 0.55% and a negative net margin of 1.20%. Analysts predict that ATN International, Inc. will post 0.74 EPS for the current year.

Institutional Investors Weigh In On ATN International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. raised its stake in shares of ATN International by 5.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company’s stock valued at $9,918,000 after buying an additional 35,394 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of ATN International by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 122,634 shares of the technology company’s stock worth $3,338,000 after buying an additional 1,132 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in ATN International by 9.6% during the third 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 period. Marshall Wace LLP raised its position 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 acquiring an additional 27,714 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position 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 acquiring an additional 2,397 shares in the last quarter. 65.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ATNI shares. Wall Street Zen downgraded ATN International from a “buy” rating to a “hold” rating in a research note on Saturday, March 21st. Weiss Ratings raised ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, ATN International has a consensus rating of “Hold”.

Key Headlines 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

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.