ATN International (NASDAQ:ATNI) Major Shareholder Cornelius Prior Jr Sells 500 Shares

Key Points

• Major shareholder Cornelius Prior Jr. sold 500 ATN International shares at an average price of $31.17, receiving $15,585. After the sale, he retained 73,936 shares valued at approximately $2.3 million.
• ATNI shares fell 0.4% to $31.84, while the company’s quarterly dividend increased to $0.29 per share, equivalent to an annualized $1.16 dividend and a 3.6% yield.
• Analyst sentiment remains mixed, with ratings ranging from “strong sell” to “buy” and a consensus “Reduce” rating. Institutional investors own approximately 65.5% of the company’s stock.

ATN International, Inc. (NASDAQ:ATNI - Get Free Report) major shareholder Cornelius Prior, Jr. sold 500 shares of the firm's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $31.17, for a total value of $15,585.00. Following the transaction, the insider owned 73,936 shares in the company, valued at approximately $2,304,585.12. This represents a 0.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

ATN International Stock Down 0.4%

Shares of ATNI stock traded down $0.13 on Monday, hitting $31.84. The stock had a trading volume of 116,686 shares, compared to its average volume of 74,146. ATN International, Inc. has a one year low of $13.86 and a one year high of $33.41. The business has a 50 day moving average price of $25.50 and a 200 day moving average price of $26.30. The company has a market cap of $489.72 million, a PE ratio of 3.11, a P/E/G ratio of 4.10 and a beta of 0.56. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.68.

ATN International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.29 per share. This is a boost from ATN International's previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Tuesday, June 30th. ATN International's payout ratio is 11.28%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATNI. Strs Ohio acquired a new stake in ATN International in the first quarter worth about $138,000. Meeder Asset Management Inc. purchased a new position in shares of ATN International in the 2nd quarter valued at approximately $217,000. Deutsche Bank AG acquired a new stake in ATN International in the 2nd quarter worth approximately $262,000. Segall Bryant & Hamill LLC acquired a new stake in ATN International in the 4th quarter worth approximately $448,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in ATN International during the 4th quarter worth approximately $479,000. 65.50% of the stock is currently 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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