ATN International (NASDAQ:ATNI) Major Shareholder Sells $492,975.00 in Stock

Key Points

• ATN International major shareholder Cornelius Prior, Jr. sold 17,500 shares on May 27 for about $492,975, reducing his direct stake by 9.85% to 160,146 shares.
• The stock recently traded at $27.63, near its 50-day moving average of $27.29 and below its 52-week high of $30.45, with the company valued at about $424.95 million.
• ATN International’s latest earnings missed expectations, posting a loss of $0.18 per share versus the expected profit, while analysts currently rate the stock Hold on average.

ATN International, Inc. (NASDAQ:ATNI - Get Free Report) major shareholder Cornelius Prior, Jr. sold 17,500 shares of the company's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $28.17, for a total transaction of $492,975.00. Following the completion of the sale, the insider directly owned 160,146 shares of the company's stock, valued at $4,511,312.82. The trade was a 9.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

ATN International Price Performance

ATNI stock traded down $0.74 during trading on Monday, hitting $27.63. The company had a trading volume of 90,027 shares, compared to its average volume of 62,900. The firm has a market capitalization of $424.95 million, a price-to-earnings ratio of -27.91, a P/E/G ratio of 3.83 and a beta of 0.54. The business has a 50 day moving average of $27.29 and a 200 day moving average of $25.47. ATN International, Inc. has a fifty-two week low of $13.86 and a fifty-two week high of $30.45. 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 (NASDAQ:ATNI - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.30). The company had revenue of $182.22 million during the quarter, compared to analyst estimates of $183.40 million. ATN International had a positive return on equity of 0.55% and a negative net margin of 1.20%. As a group, research analysts predict that ATN International, Inc. will post 0.74 earnings per share for the current year.

ATN International Announces Dividend

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On ATN International

Institutional investors and hedge funds have recently bought and sold shares of the business. Brown Brothers Harriman & Co. increased its holdings in shares of ATN International by 5.6% in 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. Marshall Wace LLP increased its holdings in shares of ATN International by 137.9% in the 2nd quarter. Marshall Wace LLP now owns 47,804 shares of the technology company's stock valued at $777,000 after purchasing an additional 27,714 shares during the period. Hillsdale Investment Management Inc. acquired a new position in shares of ATN International in the 4th quarter valued at about $479,000. Segall Bryant & Hamill LLC acquired a new position in shares of ATN International in the 4th quarter valued at about $448,000. Finally, Gamco Investors INC. ET AL increased its holdings in shares of ATN International by 17.1% in the 2nd quarter. Gamco Investors INC. ET AL now owns 70,221 shares of the technology company's stock valued at $1,141,000 after purchasing an additional 10,253 shares during the period. Hedge funds and other institutional investors own 65.50% of the company's stock.

Key ATN International News

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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