Cornelius Prior Jr Sells 2,500 Shares of ATN International (NASDAQ:ATNI) Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 2,500 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $28.25, for a total value of $70,625.00. Following the completion of the sale, the insider directly owned 127,646 shares of the company’s stock, valued at approximately $3,605,999.50. This represents a 1.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

ATN International Stock Down 2.6%

NASDAQ ATNI traded down $0.74 during trading on Monday, hitting $27.63. The company’s stock had a trading volume of 90,027 shares, compared to its average volume of 62,900. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 1.16. The company has a market cap of $424.95 million, a PE ratio of -27.91, a P/E/G ratio of 3.83 and a beta of 0.54. The business’s 50 day simple moving average is $27.29 and its 200-day simple moving average is $25.47. ATN International, Inc. has a fifty-two week low of $13.86 and a fifty-two week high of $30.45.

ATN International (NASDAQ:ATNI) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.18) earnings per share for the quarter, missing the consensus estimate 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 positive return on equity of 0.55% and a negative net margin of 1.20%. On average, equities analysts anticipate that ATN International, Inc. will post 0.74 EPS for the current fiscal year.

ATN International Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.0%. ATN International’s payout ratio is -111.11%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC lifted its holdings in ATN International by 49.3% in the first quarter. Segall Bryant & Hamill LLC now owns 29,341 shares of the technology company’s stock valued at $799,000 after acquiring an additional 9,684 shares during the period. Bank of New York Mellon Corp lifted its holdings in 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 valued at $3,338,000 after acquiring an additional 1,132 shares during the period. Hillsdale Investment Management Inc. acquired a new position in ATN International in the fourth quarter valued at approximately $479,000. Brown Brothers Harriman & Co. lifted its holdings in ATN International by 5.6% in the third quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company’s stock valued at $9,918,000 after acquiring an additional 35,394 shares during the period. Finally, Gamco Investors INC. ET AL lifted its holdings in ATN International by 9.6% in the third quarter. Gamco Investors INC. ET AL now owns 76,936 shares of the technology company’s stock valued at $1,152,000 after acquiring an additional 6,715 shares during the period. 65.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on ATNI. Weiss Ratings raised 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 research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

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

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.