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

Key Points

• Wall Street Zen downgraded ATN International from “buy” to “hold.” Other recent rating changes were mixed, and MarketBeat reports an overall “Moderate Buy” consensus.
• ATN reported quarterly EPS of $1.09, beating the $0.19 consensus, while revenue of $183.24 million fell short of the $184.90 million estimate.
• Company insiders sold 35,112 shares worth about $1.1 million over the past 90 days; insiders own 5.6% of the stock.

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

ATNI has been the subject of a number of other research reports. Weiss Ratings upgraded shares of ATN International from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday. Zacks Research raised shares of ATN International from a "strong sell" rating to a "hold" rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, ATN International currently has a consensus rating of "Moderate Buy".

ATN International Trading Down 2.3%

Shares of ATNI opened at $28.40 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.59 and a debt-to-equity ratio of 0.69. ATN International has a 12-month low of $18.94 and a 12-month high of $33.41. The firm has a 50-day moving average price of $27.82 and a 200 day moving average price of $27.22. The firm has a market capitalization of $437.36 million, a P/E ratio of 2.54, a P/E/G ratio of 2.77 and a beta of 0.73.

ATN International (NASDAQ:ATNI - Get Free Report) last issued its earnings results on Wednesday, November 4th. The technology company reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.90. The company had revenue of $183.24 million for the quarter, compared to the consensus estimate of $184.90 million. ATN International had a net margin of 24.50% and a negative return on equity of 6.59%. Sell-side analysts forecast that ATN International will post 1.05 EPS for the current year.

Insiders Place Their Bets

In other news, Director Patricia Jacobs sold 1,500 shares of the firm's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $30.04, for a total transaction of $45,060.00. Following the completion of the transaction, the director directly owned 19,958 shares in the company, valued at $599,538.32. This trade represents a 6.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Cornelius Prior, Jr. sold 10,000 shares of the firm's stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $31.86, for a total value of $318,600.00. Following the transaction, the insider owned 47,665 shares of the company's stock, valued at approximately $1,518,606.90. This represents a 17.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 35,112 shares of company stock worth $1,106,303 over the last 90 days. 5.60% of the stock is owned by insiders.

Hedge Funds Weigh In On ATN International

Several hedge funds have recently bought and sold shares of ATNI. BlackRock Inc. acquired a new position in ATN International in the 2nd quarter valued at about $24,457,000. Bank of New York Mellon Corp increased its stake in ATN International by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 122,634 shares of the technology company's stock worth $3,338,000 after purchasing an additional 1,132 shares during the period. Empowered Funds LLC acquired a new stake in shares of ATN International during the second quarter worth about $2,481,000. Segall Bryant & Hamill LLC lifted its position in shares of ATN International by 49.3% during the first quarter. Segall Bryant & Hamill LLC now owns 29,341 shares of the technology company's stock worth $799,000 after purchasing an additional 9,684 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of ATN International during the second quarter worth about $739,000. Institutional investors and hedge funds own 65.50% of the company's stock.

About ATN International

ATN International, Inc. is a telecommunications and digital infrastructure company that provides wireless and wireline communications services. Its offerings include mobile voice and data, broadband internet, fixed-line telephone service, fiber connectivity, and network services for businesses, government agencies, and other communications providers. The company serves customers in the United States and the Caribbean, with operations in markets including Bermuda, the Cayman Islands, Guyana, and the U.S. Virgin Islands.

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