Insider Selling: ATN International (NASDAQ:ATNI) Major Shareholder Sells $227,850.00 in Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 7,000 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $32.55, for a total value of $227,850.00. Following the completion of the sale, the insider owned 66,936 shares in the company, valued at $2,178,766.80. The trade was a 9.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

ATN International Stock Performance

Shares of ATNI opened at $31.71 on Friday. ATN International, Inc. has a 1 year low of $13.86 and a 1 year high of $33.41. The company has a market cap of $488.33 million, a price-to-earnings ratio of 3.08, a price-to-earnings-growth ratio of 4.09 and a beta of 0.56. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.16 and a current ratio of 1.63. The firm has a fifty day moving average of $25.98 and a 200-day moving average of $26.59.

ATN International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.29 per share. 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. This is a positive change from ATN International’s previous quarterly dividend of $0.28. ATN International’s dividend payout ratio (DPR) is presently 11.28%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On ATN International

Several institutional investors have recently bought and sold shares of ATNI. Legal & General Group Plc bought a new position in ATN International in the 2nd quarter valued at about $25,000. Bank of New York Mellon Corp raised its position in shares of ATN International by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 122,634 shares of the technology company’s stock worth $3,338,000 after buying an additional 1,132 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of ATN International by 7.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company’s stock worth $583,000 after acquiring an additional 2,397 shares during the period. Strs Ohio acquired a new stake in shares of ATN International in the 1st quarter worth approximately $138,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of ATN International in the 2nd quarter worth approximately $217,000. 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.