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

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $27.25, for a total value of $54,500.00. Following the completion of the transaction, the insider owned 186,000 shares of the company’s stock, valued at $5,068,500. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

ATN International Stock Performance

Shares of NASDAQ ATNI opened at $27.63 on Tuesday. The stock 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. 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, Inc. has a 1-year low of $13.86 and a 1-year high of $30.45. The stock’s 50-day moving average is $27.29 and its 200 day moving average is $25.47.

ATN International (NASDAQ:ATNI) last issued its earnings results on Thursday, May 7th. The technology company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.30). The firm had revenue of $182.22 million during the quarter, compared to analysts’ expectations 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, sell-side analysts anticipate that ATN International, Inc. will post 0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On ATN International

A number of large investors have recently bought and sold shares of the stock. Strs Ohio bought a new stake in ATN International in the first quarter valued at approximately $138,000. Segall Bryant & Hamill LLC bought a new position in shares of ATN International in the fourth quarter worth approximately $448,000. Hillsdale Investment Management Inc. purchased a new position in shares of ATN International in the fourth quarter worth $479,000. Ameriprise Financial Inc. increased its stake in shares of ATN International by 7.2% in the second quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company’s stock worth $583,000 after buying an additional 2,397 shares during the period. Finally, Marshall Wace LLP raised its holdings in ATN International by 137.9% during the 2nd quarter. Marshall Wace LLP now owns 47,804 shares of the technology company’s stock valued at $777,000 after buying an additional 27,714 shares during the last quarter. 65.50% of the stock is owned by hedge funds and other institutional investors.

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

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.