ATN International (NASDAQ:ATNI) Major Shareholder Cornelius Prior, Jr. Sells 6,000 Shares of Stock

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $28.30, for a total value of $169,800.00. Following the completion of the sale, the insider owned 109,036 shares of the company’s stock, valued at $3,085,718.80. The trade was a 5.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

ATN International Stock Performance

Shares of ATNI stock opened at $27.63 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.21. ATN International, Inc. has a fifty-two week low of $13.86 and a fifty-two week high of $30.45. The stock has a 50 day moving average price of $27.29 and a two-hundred day moving average price of $25.47. The company has a market capitalization of $424.95 million, a P/E ratio of -27.91, a PEG ratio of 3.83 and a beta of 0.54.

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). The company had revenue of $182.22 million during the quarter, compared to the consensus estimate of $183.40 million. ATN International had a negative net margin of 1.20% and a positive return on equity of 0.55%. Analysts expect that ATN International, Inc. will post 0.74 earnings per share for the current year.

ATN International News Summary

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. grew its position in shares of ATN International by 5.6% during the third quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company’s stock worth $9,918,000 after purchasing an additional 35,394 shares in the last quarter. Marshall Wace LLP grew its position in shares of 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 in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of ATN International during the fourth quarter worth about $479,000. Segall Bryant & Hamill LLC purchased a new stake in shares of ATN International during the fourth quarter worth about $448,000. Finally, Gamco Investors INC. ET AL grew its position in shares of ATN International by 17.1% during the second quarter. Gamco Investors INC. ET AL now owns 70,221 shares of the technology company’s stock worth $1,141,000 after purchasing an additional 10,253 shares in the last quarter. Institutional investors own 65.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.