ATN International (NASDAQ:ATNI) Reaches New 12-Month High on Analyst Upgrade

ATN International, Inc. (NASDAQ:ATNI) reached a new 52-week high on Monday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The company traded as high as $32.35 and last traded at $32.98, with a volume of 20331 shares trading hands. The stock had previously closed at $31.97.

Other equities research analysts have also issued research reports about the company. Wall Street Zen upgraded ATN International from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of ATN International in a report on Friday. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, ATN International presently has a consensus rating of “Hold”.

Insider Buying and Selling at ATN International

In related news, major shareholder Cornelius B. Prior, Jr. sold 19,100 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $27.96, for a total value of $534,036.00. Following the completion of the transaction, the insider owned 87,936 shares of the company’s stock, valued at approximately $2,458,690.56. This represents a 17.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 84,064 shares of company stock valued at $2,364,786. 5.60% of the stock is owned by insiders.

Institutional Investors Weigh In On ATN International

Several large investors have recently bought and sold shares of ATNI. Strs Ohio purchased a new stake in shares of ATN International during the first quarter worth $138,000. Meeder Asset Management Inc. purchased a new position in shares of ATN International in the second quarter worth about $217,000. Deutsche Bank AG purchased a new position in shares of ATN International in the second quarter worth about $262,000. Segall Bryant & Hamill LLC purchased a new position in shares of ATN International in the fourth quarter worth about $448,000. Finally, Hillsdale Investment Management Inc. acquired a new position in ATN International during the fourth quarter worth about $479,000. 65.50% of the stock is currently owned by hedge funds and other institutional investors.

ATN International Stock Down 2.6%

The stock has a market capitalization of $481.24 million, a price-to-earnings ratio of 3.04, a price-to-earnings-growth ratio of 4.12 and a beta of 0.56. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.68. The business’s 50-day moving average is $25.63 and its two-hundred day moving average is $26.43.

ATN International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Tuesday, June 30th were issued a $0.29 dividend. This is an increase from ATN International’s previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, June 30th. ATN International’s payout ratio is currently 11.28%.

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.