ATN International (NASDAQ:ATNI) Major Shareholder Cornelius Prior Jr Sells 10,000 Shares of Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $31.86, for a total transaction of $318,600.00. Following the completion of the transaction, the insider owned 47,665 shares of the company’s stock, valued at approximately $1,518,606.90. The trade was a 17.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

ATN International Price Performance

Shares of NASDAQ ATNI traded up $0.35 during midday trading on Friday, reaching $31.49. The stock had a trading volume of 21,452 shares, compared to its average volume of 74,794. The company has a market capitalization of $484.95 million, a price-to-earnings ratio of 3.06, a price-to-earnings-growth ratio of 4.09 and a beta of 0.56. ATN International, Inc. has a 12-month low of $13.86 and a 12-month high of $33.41. The stock has a 50-day moving average of $26.37 and a 200-day moving average of $26.85. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.59 and a current ratio of 1.63.

ATN International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.29 per share. This is a boost from ATN International’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, June 30th. ATN International’s payout ratio is 11.28%.

Institutional Trading of ATN International

Several hedge funds have recently modified their holdings of the company. Legal & General Group Plc purchased a new position in shares of ATN International in the second quarter valued at $25,000. Strs Ohio purchased a new stake in ATN International during the first quarter valued at $138,000. Meeder Asset Management Inc. bought a new position in ATN International during the second quarter valued at $217,000. Canada Pension Plan Investment Board bought a new position in ATN International during the second quarter valued at $220,000. Finally, Deutsche Bank AG purchased a new position in shares of ATN International in the 2nd quarter worth $262,000. 65.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on ATNI. Wall Street Zen upgraded ATN International from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Zacks Research raised ATN International from a “strong sell” rating to a “hold” rating in a report on Monday, August 10th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ATN International in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

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.