ATN International (NASDAQ:ATNI) Major Shareholder Sells $26,250.00 in Stock

Key Points

• ATN International major shareholder Cornelius Prior, Jr. sold 1,000 shares on May 8 at an average price of $26.25, totaling $26,250. After the sale, he still owned 193,000 shares.
• The stock fell 2.6% to $27.63 amid heavier-than-normal trading volume, while the company remained near the middle of its 12-month range.
• ATN International recently missed earnings estimates, reporting a loss of $0.18 per share versus expectations for a profit, and its shares currently carry a consensus Hold rating from analysts.

ATN International, Inc. (NASDAQ:ATNI - Get Free Report) major shareholder Cornelius Prior, Jr. sold 1,000 shares of ATN International stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $26.25, for a total value of $26,250.00. Following the sale, the insider owned 193,000 shares in the company, valued at $5,066,250. This represents a 0.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

ATN International Stock Down 2.6%

ATNI stock traded down $0.74 during midday trading on Monday, hitting $27.63. 90,027 shares of the company's stock were exchanged, compared to its average volume of 62,900. The company has a current ratio of 1.21, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. ATN International, Inc. has a 12-month low of $13.86 and a 12-month high of $30.45. The firm has a 50 day moving average price of $27.29 and a 200-day moving average price of $25.47. The stock has a market capitalization of $424.95 million, a price-to-earnings ratio of -27.91, a price-to-earnings-growth ratio of 3.83 and a beta of 0.54.

ATN International (NASDAQ:ATNI - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.30). ATN International had a positive return on equity of 0.55% and a negative net margin of 1.20%.The business had revenue of $182.22 million for the quarter, compared to analysts' expectations of $183.40 million. On average, analysts anticipate that ATN International, Inc. will post 0.74 EPS for the current year.

ATN International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Tuesday, March 31st. ATN International's payout ratio is -111.11%.

Institutional Investors Weigh In On ATN International

A number of institutional investors have recently made changes to their positions in the company. Segall Bryant & Hamill LLC increased its holdings in shares of ATN International by 49.3% in the 1st quarter. Segall Bryant & Hamill LLC now owns 29,341 shares of the technology company's stock valued at $799,000 after acquiring an additional 9,684 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of ATN International by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 122,634 shares of the technology company's stock valued at $3,338,000 after acquiring an additional 1,132 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new position in ATN International during the 4th quarter valued at approximately $479,000. Brown Brothers Harriman & Co. boosted its position 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 period. Finally, Gamco Investors INC. ET AL boosted its position in ATN International by 9.6% during the 3rd quarter. Gamco Investors INC. ET AL now owns 76,936 shares of the technology company's stock valued at $1,152,000 after purchasing an additional 6,715 shares during the period. 65.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ATNI shares. Wall Street Zen downgraded ATN International from a "buy" rating to a "hold" rating in a report on Saturday, March 21st. Weiss Ratings upgraded ATN International from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, May 13th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

Key Stories Impacting ATN International

Here are the key news stories impacting ATN International this week:

• Negative Sentiment: Cornelius B. Prior, Jr. sold 19,100 shares at an average price of $27.96, reducing his stake by 17.84%. SEC filing
• Negative Sentiment: Additional insider sales followed in multiple smaller transactions in June and May, including sales of 2,000, 6,000, 12,610, 17,500, and other shares, suggesting a sustained pattern of reducing ownership. SEC filing
• Neutral Sentiment: The sales were executed at prices mostly in the $26.25 to $28.30 range, near where the stock has recently been trading, so the transactions may also reflect portfolio rebalancing or profit-taking rather than a fundamental shift. SEC filing

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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