Gabelli Funds LLC Cuts 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 trimmed its holdings in shares of ATN International, Inc. (NASDAQ:ATNI - Free Report) by 11.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 125,000 shares of the technology company's stock after selling 15,828 shares during the period. Gabelli Funds LLC owned about 0.82% of ATN International worth $2,539,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ATNI. Segall Bryant & Hamill LLC acquired a new position in ATN International during the first quarter worth $632,000. GAMMA Investing LLC lifted its holdings in ATN International by 1,865.2% in 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 period. Tudor Investment Corp ET AL lifted its holdings in ATN International by 51.2% in 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 period. Keeley Teton Advisors LLC lifted its holdings in ATN International by 36.4% in 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 period. Finally, Russell Investments Group Ltd. lifted its holdings 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 acquiring an additional 3,304 shares during the period. 65.50% of the stock is owned by institutional investors and hedge funds.

ATN International Price Performance

Shares of ATNI traded down $0.08 during trading hours on Wednesday, reaching $15.83. 13,212 shares of the company traded hands, compared to its average volume of 59,652. The stock has a market capitalization of $241.57 million, a PE ratio of -4.70 and a beta of 0.70. The stock has a fifty day simple moving average of $16.86 and a 200 day simple moving average of $17.25. ATN International, Inc. has a fifty-two week low of $13.76 and a fifty-two week high of $33.72. The company has a quick ratio of 1.16, a current ratio of 1.22 and a debt-to-equity ratio of 1.00.

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

ATN International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Monday, June 30th were issued a $0.275 dividend. This is a boost from ATN International's previous quarterly dividend of $0.24. The ex-dividend date was Monday, June 30th. This represents a $1.10 annualized dividend and a yield of 6.9%. ATN International's payout ratio is presently -32.64%.

Wall Street Analysts Forecast Growth

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

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.