ATN International (NASDAQ:ATNI) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of ATN International (NASDAQ:ATNI) from a strong-buy rating to a buy rating in a research report released on Sunday,Wall Street Zen reports.

A number of other equities research analysts also recently weighed in on the company. Zacks Research upgraded ATN International from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th. Weiss Ratings raised ATN International from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, ATN International presently has an average rating of “Hold”.

ATN International Price Performance

ATNI stock opened at $29.62 on Friday. The firm has a 50 day simple moving average of $28.44 and a two-hundred day simple moving average of $27.26. The stock has a market cap of $456.15 million, a PE ratio of 2.88, a P/E/G ratio of 3.80 and a beta of 0.59. ATN International has a one year low of $13.86 and a one year high of $33.41. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.63 and a quick ratio of 1.59.

Insider Buying and Selling at ATN International

In other news, major shareholder Cornelius B. Prior, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $31.34, for a total transaction of $313,400.00. Following the transaction, the insider directly owned 37,165 shares of the company’s stock, valued at approximately $1,164,751.10. This trade represents a 21.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Patricia Jacobs sold 1,500 shares of ATN International stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $30.04, for a total value of $45,060.00. Following the completion of the transaction, the director owned 19,958 shares in the company, valued at approximately $599,538.32. This represents a 6.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 63,138 shares of company stock worth $1,957,393. 5.60% of the stock is owned by insiders.

Hedge Funds Weigh In On ATN International

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in ATN International in the 2nd quarter worth approximately $24,457,000. Bank of New York Mellon Corp bought a new position in shares of ATN International in the second quarter worth approximately $3,323,000. Empowered Funds LLC bought a new position in shares of ATN International in the second quarter worth approximately $2,481,000. Segall Bryant & Hamill LLC increased its stake in shares of ATN International by 49.3% in the first quarter. Segall Bryant & Hamill LLC now owns 29,341 shares of the technology company’s stock worth $799,000 after buying an additional 9,684 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of ATN International in the second quarter worth $739,000. 65.50% of the stock is currently owned by institutional investors.

About ATN International

ATN International, Inc is a telecommunications company that provides wireless and wireline communications services in rural and underserved markets. Its offerings include mobile and fixed wireless connectivity, broadband internet, voice services, fiber and enterprise connectivity, managed information technology services, wholesale telecommunications, and related infrastructure services.

The company serves customers in selected markets across the United States and the Caribbean. Its operations have included telecommunications networks and broadband services in Alaska and other rural U.S.