ATN International (NASDAQ:ATNI) Major Shareholder Cornelius Prior, Jr. Sells 2,854 Shares

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 2,854 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $27.96, for a total transaction of $79,797.84. Following the completion of the sale, the insider owned 177,646 shares of the company’s stock, valued at approximately $4,966,982.16. This represents a 1.58% decrease in their position. The sale was disclosed in a legal 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 Stock Down 2.6%

Shares of ATNI stock traded down $0.74 on Monday, hitting $27.63. The stock had a trading volume of 90,027 shares, compared to its average volume of 62,900. The business has a 50 day moving average of $27.29 and a 200 day moving average of $25.47. The stock has a market cap of $424.95 million, a price-to-earnings ratio of -27.91, a price-to-earnings-growth ratio of 3.83 and a beta of 0.54. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 1.16. ATN International, Inc. has a 12-month low of $13.86 and a 12-month high of $30.45.

ATN International (NASDAQ:ATNI) last posted its quarterly earnings data 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 positive return on equity of 0.55% and a negative net margin of 1.20%.The company had revenue of $182.22 million for the quarter, compared to analysts’ expectations of $183.40 million. As a group, analysts expect that ATN International, Inc. will post 0.74 EPS for the current year.

ATN International Dividend Announcement

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

ATN International News Roundup

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

Analyst Ratings Changes

ATNI has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of ATN International from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings upgraded shares of ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On ATN International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC boosted its position in ATN International by 49.3% during the first quarter. Segall Bryant & Hamill LLC now owns 29,341 shares of the technology company’s stock worth $799,000 after purchasing an additional 9,684 shares during the period. Bank of New York Mellon Corp boosted its position in ATN International by 0.9% during 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 purchasing an additional 1,132 shares during the period. Hillsdale Investment Management Inc. bought a new position in ATN International during the fourth quarter worth about $479,000. Brown Brothers Harriman & Co. boosted its position in ATN International by 5.6% during the third quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company’s stock worth $9,918,000 after purchasing an additional 35,394 shares during the period. Finally, Gamco Investors INC. ET AL boosted its position 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 purchasing an additional 6,715 shares during the period. Institutional investors own 65.50% of the company’s stock.

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.