Insider Selling: ATN International (NASDAQ:ATNI) Major Shareholder Sells 1,000 Shares of Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 1,000 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $27.08, for a total value of $27,080.00. Following the transaction, the insider directly owned 86,936 shares in the company, valued at $2,354,226.88. This trade represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 ATN International stock traded up $0.66 during trading on Monday, hitting $27.69. The stock had a trading volume of 80,501 shares, compared to its average volume of 73,153. ATN International, Inc. has a fifty-two week low of $13.86 and a fifty-two week high of $30.45. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 1.16. The firm has a market cap of $425.87 million, a P/E ratio of -27.97, a PEG ratio of 3.65 and a beta of 0.54. The business has a fifty day moving average of $27.23 and a two-hundred day moving average of $25.79.

ATN International (NASDAQ:ATNI) last released 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). The company had revenue of $182.22 million for the quarter, compared to the consensus estimate 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 expect that ATN International, Inc. will post 0.74 earnings per share for the current fiscal year.

ATN International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.29 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.16 annualized dividend and a dividend yield of 4.2%. This is a positive change from ATN International’s previous quarterly dividend of $0.28. ATN International’s dividend payout ratio is presently -111.11%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. lifted its stake in ATN International by 5.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company’s stock valued at $9,918,000 after acquiring an additional 35,394 shares in the last quarter. Marshall Wace LLP grew its holdings in ATN International by 137.9% during the second quarter. Marshall Wace LLP now owns 47,804 shares of the technology company’s stock worth $777,000 after purchasing an additional 27,714 shares during the period. Hillsdale Investment Management Inc. bought a new position in shares of ATN International during the 4th quarter worth approximately $479,000. Segall Bryant & Hamill LLC acquired a new position in shares of ATN International in the fourth quarter valued at $448,000. Finally, Gamco Investors INC. ET AL grew its stake in ATN International by 17.1% in the 2nd quarter. Gamco Investors INC. ET AL now owns 70,221 shares of the technology company’s stock valued at $1,141,000 after buying an additional 10,253 shares during the last quarter. Institutional investors 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.