ATN International (NASDAQ:ATNI) Major Shareholder Sells $31,750.00 in Stock

Key Points

• Major shareholder Cornelius Prior Jr. sold 1,000 ATN International shares at an average price of $31.75, totaling $31,750. Following the sale, he retained 57,665 shares.
• ATNI shares rose 1.5% to $31.88, near the stock’s 12-month high of $33.41. The company increased its quarterly dividend to $0.29, or $1.16 annually, yielding approximately 3.6%.
• Institutional investors recently established new positions, and institutions now own 65.5% of the stock. Analyst sentiment remains cautious, with an overall “Hold” rating despite upgrades from Wall Street Zen and Zacks Research.

ATN International, Inc. (NASDAQ:ATNI - Get Free Report) major shareholder Cornelius Prior, Jr. sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $31.75, for a total value of $31,750.00. Following the sale, the insider directly owned 57,665 shares of the company's stock, valued at $1,830,863.75. This represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

ATN International Stock Up 1.5%

Shares of ATNI stock traded up $0.46 during mid-day trading on Wednesday, hitting $31.88. The stock had a trading volume of 78,972 shares, compared to its average volume of 74,993. ATN International, Inc. has a 12-month low of $13.86 and a 12-month high of $33.41. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.63 and a quick ratio of 1.59. The firm's 50-day moving average is $26.19 and its two-hundred day moving average is $26.74. The firm has a market capitalization of $491.05 million, a P/E ratio of 3.10, a price-to-earnings-growth ratio of 4.07 and a beta of 0.56.

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 paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.6%. This is a boost from ATN International's previous quarterly dividend of $0.28. The ex-dividend date was Tuesday, June 30th. ATN International's dividend payout ratio (DPR) is 11.28%.

Institutional Trading of ATN International

Institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC acquired a new position in shares of ATN International in the 2nd quarter valued at $2,481,000. Bank of America Corp DE acquired a new stake in shares of ATN International during the 2nd quarter worth approximately $678,000. Hsbc Holdings PLC bought a new position in ATN International in the 2nd quarter valued at about $339,000. Canada Pension Plan Investment Board bought a new stake in shares of ATN International in the 2nd quarter worth approximately $220,000. Finally, Legal & General Group Plc purchased a new stake in shares of ATN International in the second quarter valued at $25,000. 65.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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