ATN International (NASDAQ:ATNI) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded ATN International from “buy” to “strong-buy,” although other analysts’ revisions left the stock with a consensus “hold” rating.
• ATN shares opened at $30.32, with a market capitalization of approximately $466.9 million and a 12-month trading range of $13.86 to $33.41. The company reported a low P/E ratio of 2.95 and moderate debt-to-equity ratio of 0.68.
• Institutional investors own 65.5% of ATN, with several firms initiating or expanding positions in the second quarter. Meanwhile, insiders sold 53,271 shares worth approximately $1.65 million during the last quarter.

ATN International (NASDAQ:ATNI - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other equities research analysts have also issued reports about the company. Weiss Ratings raised ATN International from a "hold (c-)" rating to a "hold (c+)" rating in a research report on Friday, August 21st. Zacks Research raised shares of ATN International from a "strong sell" rating to a "hold" rating in a report on Monday, August 10th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold".

ATN International Stock Performance

Shares of ATN International stock opened at $30.32 on Friday. The business's fifty day simple moving average is $27.67 and its 200 day simple moving average is $27.24. The firm has a market capitalization of $466.93 million, a P/E ratio of 2.95, a price-to-earnings-growth ratio of 3.93 and a beta of 0.59. ATN International has a 12 month low of $13.86 and a 12 month high of $33.41. The company has a current ratio of 1.63, a quick ratio of 1.59 and a debt-to-equity ratio of 0.68.

Insider Activity at ATN International

In other ATN International news, Director Patricia Jacobs sold 1,500 shares of the business's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $30.04, for a total value of $45,060.00. Following the sale, the director directly owned 19,958 shares in the company, valued at $599,538.32. The trade was a 6.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Cornelius B. Prior, Jr. sold 10,000 shares of the business's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $31.34, for a total value of $313,400.00. Following the completion of the sale, the insider owned 37,165 shares in the company, valued at approximately $1,164,751.10. The trade was a 21.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 53,271 shares of company stock worth $1,649,663. 5.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System increased its holdings in ATN International by 590.7% in the 2nd quarter. California State Teachers Retirement System now owns 3,709 shares of the technology company's stock worth $98,000 after acquiring an additional 3,172 shares during the last quarter. Empowered Funds LLC purchased a new stake in ATN International during the second quarter valued at about $2,481,000. Bank of America Corp DE bought a new position in ATN International during the second quarter worth about $678,000. Hsbc Holdings PLC bought a new position in ATN International during the second quarter worth about $339,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of ATN International in the second quarter worth about $220,000. Institutional investors own 65.50% of the company's stock.

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.

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