ATN International (NASDAQ:ATNI) Hits New 52-Week High - Still a Buy?

Key Points

• ATN International shares reached a new 52-week high, trading around $32.98 and up 3.3%. The stock has a market capitalization of approximately $508 million and a low P/E ratio of 3.18.
• Analyst sentiment remains mixed: Zacks Research downgraded the stock to “strong sell,” while Wall Street Zen upgraded it to “buy” and Weiss Ratings raised its view to “hold.” MarketBeat reports an overall average rating of “Reduce.”
• ATN raised its quarterly dividend to $0.29, implying a $1.16 annualized payout and a 3.5% yield. However, insiders sold more than 76,000 shares over the past 90 days, while institutional investors own 65.5% of the stock.

Shares of ATN International, Inc. (NASDAQ:ATNI - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $32.35 and last traded at $32.98, with a volume of 20331 shares. The stock had previously closed at $31.97.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ATNI shares. Zacks Research lowered ATN International from a "hold" rating to a "strong sell" rating in a research report on Friday, July 10th. Wall Street Zen upgraded ATN International from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Weiss Ratings raised ATN International from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, ATN International has an average rating of "Reduce".

ATN International Trading Up 3.3%

The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.16 and a current ratio of 1.63. The stock's fifty day moving average is $25.50 and its 200 day moving average is $26.30. The stock has a market cap of $507.91 million, a P/E ratio of 3.18, a P/E/G ratio of 4.10 and a beta of 0.56.

ATN International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Tuesday, June 30th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Tuesday, June 30th. This is a positive change from ATN International's previous quarterly dividend of $0.28. ATN International's dividend payout ratio is 11.28%.

Insider Buying and Selling at ATN International

In related news, major shareholder Cornelius B. Prior, Jr. sold 19,100 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $27.96, for a total transaction of $534,036.00. Following the sale, the insider owned 87,936 shares in the company, valued at approximately $2,458,690.56. This represents a 17.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders sold 76,564 shares of company stock worth $2,141,021. Insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Strs Ohio purchased a new stake in shares of ATN International in the first quarter valued at $138,000. Marshall Wace LLP boosted its stake in shares of ATN International by 137.9% during the 2nd quarter. Marshall Wace LLP now owns 47,804 shares of the technology company's stock worth $777,000 after purchasing an additional 27,714 shares during the period. Gamco Investors INC. ET AL boosted its stake in shares of ATN International by 17.1% during the 2nd quarter. Gamco Investors INC. ET AL now owns 70,221 shares of the technology company's stock worth $1,141,000 after purchasing an additional 10,253 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of ATN International by 7.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company's stock worth $583,000 after purchasing an additional 2,397 shares during the period. Finally, Brown Brothers Harriman & Co. grew its holdings in ATN International by 5.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company's stock valued at $9,918,000 after purchasing an additional 35,394 shares during the last quarter. 65.50% of the stock is owned by hedge funds and other institutional investors.

ATN International Company Profile

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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