ATN International (NASDAQ:ATNI) Major Shareholder Cornelius Prior, Jr. Sells 1,000 Shares of Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 1,000 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $26.25, for a total value of $26,250.00. Following the transaction, the insider directly owned 193,000 shares of the company’s stock, valued at approximately $5,066,250. This trade represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

ATN International Price Performance

Shares of NASDAQ ATNI opened at $27.63 on Tuesday. The stock has a fifty day simple moving average of $27.29 and a two-hundred day simple moving average of $25.47. ATN International, Inc. has a 1-year low of $13.86 and a 1-year high of $30.45. The firm has a market cap of $424.95 million, a price-to-earnings ratio of -27.91, a price-to-earnings-growth 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 (NASDAQ:ATNI) last announced its quarterly earnings data 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). ATN International had a negative net margin of 1.20% and a positive return on equity of 0.55%. The firm had revenue of $182.22 million for the quarter, compared to the consensus estimate of $183.40 million. Analysts anticipate that ATN International, Inc. will post 0.74 earnings per share for the current year.

Hedge Funds Weigh In On ATN International

Large investors have recently made changes to their positions in the stock. Strs Ohio bought a new position in shares of ATN International in the first quarter worth $138,000. Segall Bryant & Hamill LLC bought a new position in shares of ATN International in the fourth quarter worth $448,000. Hillsdale Investment Management Inc. bought a new position in shares of ATN International in the fourth quarter worth $479,000. Ameriprise Financial Inc. boosted its holdings 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 acquiring an additional 2,397 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of ATN International by 137.9% in the second quarter. Marshall Wace LLP now owns 47,804 shares of the technology company’s stock worth $777,000 after acquiring an additional 27,714 shares during the period. 65.50% of the stock is owned by institutional investors.

Key Headlines 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

Several brokerages have weighed in on ATNI. Wall Street Zen lowered ATN International from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings raised ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average 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.