ATN International (NASDAQ:ATNI) Director Sells 1,000 Shares

Key Points

• Director Patricia Jacobs sold 1,000 ATN International shares at an average price of $31.14, generating $31,140 and reducing her direct stake by 4.45% to 21,458 shares.
• ATNI shares recently traded at $31.49, near their 52-week high of $33.41. The company has a market capitalization of approximately $485 million and a price-to-earnings ratio of 3.06.
• ATN International increased its quarterly dividend to $0.29 per share, equivalent to an annualized $1.16 payout and a 3.7% yield; analysts collectively maintain a “Hold” rating.

ATN International, Inc. (NASDAQ:ATNI - Get Free Report) Director Patricia Jacobs sold 1,000 shares of ATN International stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $31.14, for a total transaction of $31,140.00. Following the completion of the transaction, the director directly owned 21,458 shares of the company's stock, valued at $668,202.12. The trade was a 4.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

ATN International Price Performance

Shares of ATNI stock traded up $0.35 during mid-day trading on Friday, hitting $31.49. 21,452 shares of the stock were exchanged, compared to its average volume of 74,794. ATN International, Inc. has a 52-week low of $13.86 and a 52-week high of $33.41. The company has a quick ratio of 1.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.68. The company has a market cap of $484.95 million, a PE ratio of 3.06, a price-to-earnings-growth ratio of 4.09 and a beta of 0.56. The firm has a fifty day moving average of $26.37 and a 200 day moving average of $26.85.

ATN International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.29 per share. 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 yield of 3.7%. The ex-dividend date was Tuesday, June 30th. ATN International's dividend payout ratio (DPR) is currently 11.28%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc purchased a new position in shares of ATN International during the 2nd quarter worth approximately $25,000. Strs Ohio purchased a new stake in ATN International in the first quarter valued at approximately $138,000. Meeder Asset Management Inc. purchased a new stake in ATN International in the second quarter valued at approximately $217,000. Canada Pension Plan Investment Board acquired a new position in ATN International during the second quarter worth $220,000. Finally, Deutsche Bank AG purchased a new position in shares of ATN International during the second quarter worth $262,000. Hedge funds and other institutional investors own 65.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ATNI. Zacks Research upgraded ATN International from a "strong sell" rating to a "hold" rating in a research report on Monday, August 10th. Wall Street Zen upgraded ATN International from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of ATN International in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, ATN International currently has an average rating of "Hold".

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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