Bank of New York Mellon Corp Buys Shares of 125,447 ATN International, Inc. $ATNI

Key Points

• Bank of New York Mellon acquired 125,447 shares of ATN International worth approximately $3.3 million, giving it a 0.82% stake. Institutional investors collectively own 65.5% of the company.
• ATN International insiders sold 74,371 shares valued at roughly $2.24 million over the past 90 days, while insiders retain 5.6% ownership.
• The stock has a consensus “Hold” rating from analysts, despite one recent upgrade to “Buy.” ATN also raised its quarterly dividend to $0.29 per share, implying a 3.8% annual yield.

Bank of New York Mellon Corp purchased a new stake in shares of ATN International, Inc. (NASDAQ:ATNI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 125,447 shares of the technology company's stock, valued at approximately $3,323,000. Bank of New York Mellon Corp owned 0.82% of ATN International as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Hillsdale Investment Management Inc. acquired a new stake in shares of ATN International in the 4th quarter worth about $479,000. Brown Brothers Harriman & Co. boosted its stake 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. Gamco Investors INC. ET AL boosted its stake in ATN International by 17.1% during 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. Marshall Wace LLP grew its position in ATN International by 137.9% in the 2nd quarter. Marshall Wace LLP now owns 47,804 shares of the technology company's stock worth $777,000 after purchasing an additional 27,714 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in ATN International by 7.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company's stock worth $583,000 after purchasing an additional 2,397 shares during the last quarter. Institutional investors own 65.50% of the company's stock.

Insider Transactions at ATN International

In other news, Director Patricia Jacobs sold 1,500 shares of the company's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $30.04, for a total value of $45,060.00. Following the completion of the sale, the director directly owned 19,958 shares of the company's stock, valued at approximately $599,538.32. This represents a 6.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Cornelius Prior, Jr. sold 10,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $31.34, for a total transaction of $313,400.00. Following the completion of the transaction, the insider owned 37,165 shares of the company's stock, valued at $1,164,751.10. This trade represents a 21.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 74,371 shares of company stock worth $2,238,299 over the last 90 days. 5.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ATNI. Zacks Research upgraded shares of ATN International from a "strong sell" rating to a "hold" rating in a research note on Monday, August 10th. Weiss Ratings upgraded ATN International from a "hold (c-)" rating to a "hold (c+)" rating in a research report on Friday, August 21st. Finally, Wall Street Zen raised ATN International from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold".

ATN International Price Performance

Shares of NASDAQ ATNI opened at $30.93 on Monday. The stock has a market cap of $476.32 million, a P/E ratio of 3.01, a P/E/G ratio of 3.97 and a beta of 0.59. The firm's 50-day simple moving average is $27.23 and its 200 day simple moving average is $27.16. ATN International, Inc. has a fifty-two week low of $13.86 and a fifty-two week high of $33.41. The company has a quick ratio of 1.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.68.

ATN International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.8%. 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 11.28%.

ATN International Profile

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.

Want to see what other hedge funds are holding ATNI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ATN International, Inc. (NASDAQ:ATNI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.