Cornelius Prior, Jr. Sells 7,000 Shares of ATN International (NASDAQ:ATNI) Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 7,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $29.74, for a total value of $208,180.00. Following the sale, the insider directly owned 74,436 shares of the company’s stock, valued at $2,213,726.64. This represents a 8.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

ATN International Price Performance

NASDAQ:ATNI opened at $31.29 on Wednesday. ATN International, Inc. has a one year low of $13.86 and a one year high of $33.41. The company has a market cap of $481.24 million, a P/E ratio of 3.04, a P/E/G ratio of 4.12 and a beta of 0.56. The firm’s fifty day moving average price is $25.63 and its two-hundred day moving average price is $26.43. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.63 and a quick ratio of 1.16.

ATN International Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently commented on ATNI. Wall Street Zen raised ATN International from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research cut ATN International from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. Finally, Weiss Ratings upgraded ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Strs Ohio acquired a new stake in shares of ATN International in the first quarter valued at approximately $138,000. Meeder Asset Management Inc. acquired a new stake in ATN International during the second quarter worth approximately $217,000. Deutsche Bank AG bought a new position in ATN International during the 2nd quarter worth $262,000. Segall Bryant & Hamill LLC acquired a new position in ATN International in the 4th quarter valued at $448,000. Finally, Hillsdale Investment Management Inc. acquired a new position in ATN International in the 4th quarter valued at $479,000. Institutional investors and hedge funds own 65.50% of the company’s stock.

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.