Insider Selling: ATN International (NASDAQ:ATNI) Major Shareholder Sells 6,000 Shares of Stock

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

ATN International Trading Down 2.6%

Shares of NASDAQ ATNI traded down $0.74 during mid-day trading on Monday, hitting $27.63. The company’s stock had a trading volume of 90,027 shares, compared to its average volume of 62,900. The stock has a market cap of $424.95 million, a price-to-earnings ratio of -27.91, a price-to-earnings-growth ratio of 3.83 and a beta of 0.54. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 1.16. ATN International, Inc. has a one year low of $13.86 and a one year high of $30.45. The company’s fifty day simple moving average is $27.29 and its 200-day simple moving average is $25.47.

ATN International (NASDAQ:ATNI) last issued its earnings results on Thursday, May 7th. The technology company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.30). The business 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%. On average, sell-side analysts anticipate that ATN International, Inc. will post 0.74 earnings per share for the current fiscal year.

ATN International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Tuesday, March 31st. ATN International’s dividend payout ratio (DPR) is -111.11%.

Key Stories Impacting ATN International

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 Trading of ATN International

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in shares of ATN International by 0.9% in the first quarter. Bank of New York Mellon Corp now owns 122,634 shares of the technology company’s stock valued at $3,338,000 after purchasing an additional 1,132 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of ATN International by 7.2% in the second quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company’s stock valued at $583,000 after purchasing an additional 2,397 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of ATN International by 9.6% in the third quarter. Gamco Investors INC. ET AL now owns 76,936 shares of the technology company’s stock valued at $1,152,000 after purchasing an additional 6,715 shares during the last quarter. Strs Ohio acquired a new stake in shares of ATN International in the first quarter valued at approximately $138,000. Finally, Segall Bryant & Hamill LLC raised its holdings 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 valued at $799,000 after purchasing an additional 9,684 shares during the last quarter. 65.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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