Cornelius Prior Jr Sells 2,500 Shares of ATN International (NASDAQ:ATNI) Stock

Key Points

• Major shareholder Cornelius Prior Jr. sold 2,500 ATN International shares at an average price of $32.05, generating $80,125. He retained 64,436 shares, a 3.73% reduction in his ownership.
• ATN International shares recently traded at $31.57, near the company’s 52-week high of $33.41, with a market capitalization of approximately $486 million.
• The company increased its quarterly dividend to $0.29 per share, or $1.16 annually, representing a 3.7% yield. Analysts maintain a consensus “Hold” rating, while institutional investors own 65.5% of the stock.

ATN International, Inc. (NASDAQ:ATNI - Get Free Report) major shareholder Cornelius Prior, Jr. sold 2,500 shares of ATN International stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $32.05, for a total value of $80,125.00. Following the transaction, the insider directly owned 64,436 shares of the company's stock, valued at approximately $2,065,173.80. This represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

ATN International Price Performance

ATN International stock traded down $0.14 during trading hours on Monday, hitting $31.57. The stock had a trading volume of 93,494 shares, compared to its average volume of 74,917. ATN International, Inc. has a 1-year low of $13.86 and a 1-year high of $33.41. The stock has a market capitalization of $486.18 million, a price-to-earnings ratio of 3.07, a PEG ratio of 4.07 and a beta of 0.56. The stock's fifty day moving average is $25.98 and its two-hundred day moving average is $26.61. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.63 and a quick ratio of 1.59.

ATN International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Investors 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 3.7%. The ex-dividend date of this dividend was Tuesday, June 30th. This is a positive change from ATN International's previous quarterly dividend of $0.28. ATN International's dividend payout ratio is currently 11.28%.

Analyst Upgrades and Downgrades

ATNI has been the topic of several recent research reports. Zacks Research raised shares of ATN International from a "strong sell" rating to a "hold" rating in a report on Monday, August 10th. Wall Street Zen upgraded ATN International from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of ATN International in a research note on Friday, August 7th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, ATN International has a consensus rating of "Hold".

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc purchased a new position in ATN International in the 2nd quarter valued at about $25,000. Strs Ohio acquired a new stake in ATN International in the 1st quarter worth about $138,000. Meeder Asset Management Inc. purchased a new stake in ATN International in the 2nd quarter valued at about $217,000. Canada Pension Plan Investment Board acquired a new position in shares of ATN International during the 2nd quarter valued at about $220,000. Finally, Deutsche Bank AG acquired a new position in shares of ATN International during the 2nd quarter valued at about $262,000. Institutional investors and hedge funds own 65.50% of the company's stock.

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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