ATN International (NASDAQ:ATNI) Major Shareholder Cornelius Prior, Jr. Sells 10,000 Shares

ATN International, Inc. (NASDAQ:ATNI) major shareholder Cornelius Prior, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $31.86, for a total transaction of $318,600.00. Following the sale, the insider directly owned 47,665 shares in the company, valued at $1,518,606.90. This trade represents a 17.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

ATN International Stock Performance

Shares of ATNI opened at $30.95 on Friday. The company has a market cap of $476.72 million, a PE ratio of 3.01, a price-to-earnings-growth ratio of 3.99 and a beta of 0.56. The company has a current ratio of 1.63, a quick ratio of 1.59 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average price of $26.42 and a 200-day moving average price of $26.88. ATN International, Inc. has a 12-month low of $13.86 and a 12-month high of $33.41.

ATN International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Tuesday, June 30th were paid a $0.29 dividend. This is a boost from ATN International’s previous quarterly dividend of $0.28. 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. ATN International’s payout ratio is currently 11.28%.

Analyst Upgrades and Downgrades

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

Institutional Trading of ATN International

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in ATN International during the 2nd quarter valued at about $24,457,000. Bank of New York Mellon Corp bought a new stake in ATN International in the second quarter valued at $3,323,000. Empowered Funds LLC purchased a new position in ATN International during the 2nd quarter valued at $2,481,000. Brown Brothers Harriman & Co. raised its holdings 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 worth $9,918,000 after purchasing an additional 35,394 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of ATN International in the 2nd quarter worth about $739,000. 65.50% of the stock is currently owned by hedge funds and other institutional investors.

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.