ATN International (NASDAQ:ATNI) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded ATN International from “hold” to “buy,” although MarketBeat’s consensus rating remains “Reduce,” with one analyst at “Hold” and another at “Sell.”
• ATN shares opened at $31.97, near their 12-month high of $32.28, while the company reported a quarterly EPS loss of $0.18, missing the $0.12 consensus estimate; revenue was $182.22 million versus expectations of $183.40 million.
• Institutional ownership stands at 65.5%, including new stakes from BlackRock and Bank of New York Mellon, while insiders sold 81,564 shares worth approximately $2.28 million over the past 90 days.

ATN International (NASDAQ:ATNI - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

A number of other research firms have also recently commented on ATNI. Zacks Research cut ATN International from a "hold" rating to a "strong sell" rating in a research note on Friday, July 10th. Weiss Ratings upgraded shares of ATN International from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, ATN International currently has a consensus rating of "Reduce".

ATN International Stock Performance

Shares of ATNI opened at $31.97 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $491.70 million, a price-to-earnings ratio of 3.11, a PEG ratio of 5.11 and a beta of 0.56. The stock has a 50 day moving average of $25.50 and a 200 day moving average of $26.28. ATN International has a 12 month low of $13.86 and a 12 month high of $32.28.

ATN International (NASDAQ:ATNI - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of $0.12 by ($0.30). The business had revenue of $182.22 million for the quarter, compared to the consensus estimate of $183.40 million. ATN International had a negative return on equity of 9.46% and a net margin of 22.55%. As a group, sell-side analysts forecast that ATN International will post 0.6 earnings per share for the current year.

Insider Activity

In related news, major shareholder Cornelius B. Prior, Jr. sold 5,000 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $27.65, for a total transaction of $138,250.00. Following the sale, the insider owned 81,436 shares of the company's stock, valued at approximately $2,251,705.40. This represents a 5.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 81,564 shares of company stock worth $2,277,271. Insiders own 5.60% of the company's stock.

Institutional Investors Weigh In On ATN International

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in ATN International in the 2nd quarter worth approximately $24,457,000. Bank of New York Mellon Corp bought a new position in shares of ATN International in the second quarter worth $3,323,000. Brown Brothers Harriman & Co. increased its holdings in shares of ATN International by 5.6% in the third quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company's stock worth $9,918,000 after purchasing an additional 35,394 shares during the period. Marshall Wace LLP raised its position in shares of ATN International by 137.9% in the second quarter. Marshall Wace LLP now owns 47,804 shares of the technology company's stock worth $777,000 after buying an additional 27,714 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of ATN International in the fourth quarter worth $479,000. 65.50% of the stock is currently owned by institutional investors.

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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