Gabelli Funds LLC Has $2.54 Million Stock Position in ATN International, Inc. $ATNI

Key Points

• Gabelli Funds LLC reduced its stake in ATN International by 11.2% to approximately 125,000 shares, valued at around $2.54 million, as part of its financial strategy in the first quarter.
• ATN International declared a quarterly dividend of $0.275 per share, an increase from the previous $0.24, which translates to an annualized yield of 6.5%.
• Despite recent challenges, ATN International received an upgrade from Wall Street Zen, boosting its rating from "hold" to "buy" and setting a price target of $26.00.

Gabelli Funds LLC reduced its stake in ATN International, Inc. (NASDAQ:ATNI - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 125,000 shares of the technology company's stock after selling 15,828 shares during the quarter. Gabelli Funds LLC owned about 0.82% of ATN International worth $2,539,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Versant Capital Management Inc grew its position in shares of ATN International by 4,208.3% during the 1st quarter. Versant Capital Management Inc now owns 1,551 shares of the technology company's stock worth $32,000 after purchasing an additional 1,515 shares in the last quarter. Russell Investments Group Ltd. boosted its position in ATN International by 357.2% in the first quarter. Russell Investments Group Ltd. now owns 4,229 shares of the technology company's stock valued at $86,000 after buying an additional 3,304 shares in the last quarter. Keeley Teton Advisors LLC raised its stake in shares of ATN International by 36.4% during the first quarter. Keeley Teton Advisors LLC now owns 31,954 shares of the technology company's stock valued at $649,000 after acquiring an additional 8,525 shares during the last quarter. Tudor Investment Corp ET AL raised its stake in shares of ATN International by 51.2% during the fourth quarter. Tudor Investment Corp ET AL now owns 42,360 shares of the technology company's stock valued at $712,000 after acquiring an additional 14,344 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of ATN International by 1,865.2% during the first quarter. GAMMA Investing LLC now owns 23,661 shares of the technology company's stock valued at $481,000 after acquiring an additional 22,457 shares during the last quarter. Institutional investors and hedge funds own 65.50% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of ATN International from a "hold" rating to a "buy" rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $26.00.

ATN International Stock Up 5.4%

NASDAQ:ATNI traded up $0.85 during trading hours on Thursday, reaching $16.67. The company had a trading volume of 30,296 shares, compared to its average volume of 36,175. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 1.00. The firm has a market cap of $254.38 million, a price-to-earnings ratio of -4.95 and a beta of 0.70. The business's 50-day simple moving average is $16.87 and its two-hundred day simple moving average is $17.24. ATN International, Inc. has a twelve month low of $13.76 and a twelve month high of $33.72.

ATN International (NASDAQ:ATNI - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.17). The company had revenue of $181.30 million during the quarter, compared to analyst estimates of $184.67 million. ATN International had a negative return on equity of 0.61% and a negative net margin of 6.26%. ATN International has set its FY 2025 guidance at EPS. On average, equities analysts expect that ATN International, Inc. will post -0.73 earnings per share for the current year.

ATN International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Stockholders of record on Monday, June 30th were issued a dividend of $0.275 per share. This is an increase from ATN International's previous quarterly dividend of $0.24. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date was Monday, June 30th. ATN International's dividend payout ratio is -32.64%.

About ATN International

ATN International, Inc, through its subsidiaries, engages in the provision of digital infrastructure and communications services to residential, business, and government customers in the United States and internationally. The company operates through International Telecom and US Telecom segments. The company offers mobile, data, voice, broadband, and fixed services; handsets and accessories; and wholesale roaming, long distance voice services, and site maintenance services.