ATN International (NASDAQ:ATNI) Rating Lowered to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen downgraded ATN International from “strong buy” to “buy,” while other recent analyst changes leave the stock with a consensus “hold” rating.
• ATNI shares opened at $28.73, with a market capitalization of approximately $442.4 million and a 12-month trading range of $13.86 to $33.41.
• Insiders have sold 63,138 shares worth about $1.96 million over the past three months, while institutional investors own approximately 65.5% of the company.

ATN International (NASDAQ:ATNI - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

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

ATN International Price Performance

Shares of ATN International stock opened at $28.73 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.59 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $442.44 million, a PE ratio of 2.79, a price-to-earnings-growth ratio of 3.68 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 business's 50-day moving average price is $28.20 and its 200-day moving average price is $27.28.

Insiders Place Their Bets

In other news, major shareholder Cornelius Prior, Jr. sold 10,000 shares of the firm's stock in a transaction on 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 owned 37,165 shares in the company, 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 SEC, which is accessible through this link. Also, Director Patricia Jacobs sold 1,500 shares of ATN International stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $30.04, for a total value of $45,060.00. Following the completion of the sale, the director owned 19,958 shares of the company's stock, valued at $599,538.32. The trade was a 6.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 63,138 shares of company stock worth $1,957,393 in the last three months. Corporate insiders own 5.60% of the company's stock.

Institutional Investors Weigh In On ATN International

Several hedge funds have recently modified their holdings of ATNI. Legal & General Group Plc bought a new position in ATN International in the second quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new stake in ATN International during the 2nd quarter valued at $217,000. Canada Pension Plan Investment Board purchased a new position in shares of ATN International in the 2nd quarter valued at $220,000. Deutsche Bank AG purchased a new position in shares of ATN International in the 2nd quarter valued at $262,000. Finally, Algert Global LLC bought a new position in shares of ATN International in the 2nd quarter worth $275,000. Hedge funds and other institutional investors own 65.50% of the company's stock.

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.

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