ATN International Inc (NASDAQ:ATNI) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 308,000 shares, an increase of 16.5% from the June 30th total of 264,300 shares. Based on an average daily volume of 60,300 shares, the short-interest ratio is presently 5.1 days. Currently, 2.9% of the shares of the company are sold short.
ATNI has been the topic of several recent research reports. BidaskClub upgraded ATN International from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. Maxim Group reiterated a “buy” rating and issued a $71.00 price objective on shares of ATN International in a research report on Wednesday, July 24th. ValuEngine downgraded ATN International from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th. Zacks Investment Research upgraded ATN International from a “sell” rating to a “hold” rating in a research report on Tuesday, June 25th. Finally, Raymond James set a $64.00 price objective on ATN International and gave the stock an “outperform” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. ATN International currently has an average rating of “Hold” and a consensus price target of $72.00.
NASDAQ ATNI traded down $1.31 during trading hours on Wednesday, reaching $54.34. 1,250 shares of the stock traded hands, compared to its average volume of 59,657. The firm has a 50 day moving average price of $57.24. ATN International has a 1 year low of $50.48 and a 1 year high of $88.78. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.87 and a current ratio of 1.92. The firm has a market cap of $890.68 million, a P/E ratio of 41.97 and a beta of 0.39.
In other ATN International news, CFO Justin D. Benincasa sold 1,250 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $61.89, for a total transaction of $77,362.50. Following the completion of the transaction, the chief financial officer now directly owns 55,568 shares of the company’s stock, valued at $3,439,103.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.34% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. purchased a new stake in ATN International during the first quarter valued at about $55,000. Sun Life Financial INC raised its position in ATN International by 144.0% during the second quarter. Sun Life Financial INC now owns 2,450 shares of the technology company’s stock valued at $141,000 after purchasing an additional 1,446 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in ATN International by 50.0% during the second quarter. Municipal Employees Retirement System of Michigan now owns 4,770 shares of the technology company’s stock valued at $275,000 after purchasing an additional 1,590 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in ATN International by 886.6% during the first quarter. BNP Paribas Arbitrage SA now owns 2,427 shares of the technology company’s stock valued at $137,000 after purchasing an additional 2,181 shares in the last quarter. Finally, Portland Global Advisors LLC purchased a new stake in ATN International during the second quarter valued at about $226,000. Institutional investors and hedge funds own 63.05% of the company’s stock.
About ATN International
ATN International, Inc, through its subsidiaries, provides wireless and wireline telecommunications services in North America, India, Bermuda, and the Caribbean. It operates through three segments: U.S. Telecom, International Telecom, and Renewable Energy. The U.S. Telecom segment offers wireless and wireline services; wholesale wireless voice and data roaming services to wireless carriers principally in the Southwest and Midwest the United States; and retail wireless, wireline, and wholesale long-distance voice services to telecommunications carriers.
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