ATN International (NASDAQ:ATNI) Director Sells 1,500 Shares

Key Points

• Director Patricia Jacobs sold 1,500 ATN International shares at an average price of $30.04, totaling $45,060. After the sale, she retained 19,958 shares, a 6.99% reduction in her ownership.
• ATN International shares recently traded at $31.23, near their 12-month high of $33.41, while the company carries a market capitalization of about $481 million and a P/E ratio of 3.03.
• The company increased its quarterly dividend to $0.29 per share, implying a $1.16 annualized payout and a 3.7% yield. Analysts maintain a consensus “Hold” rating, despite one recent upgrade to “Buy.”

ATN International, Inc. (NASDAQ:ATNI - Get Free Report) Director Patricia Jacobs sold 1,500 shares of ATN International stock in a transaction 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 transaction, the director owned 19,958 shares in the company, valued at approximately $599,538.32. This trade represents a 6.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Patricia Jacobs also recently made the following trade(s):

• On Thursday, August 20th, Patricia Jacobs sold 1,000 shares of ATN International stock. The stock was sold at an average price of $31.14, for a total transaction of $31,140.00.

ATN International Price Performance

ATN International stock traded up $1.10 during mid-day trading on Wednesday, hitting $31.23. The company's stock had a trading volume of 16,628 shares, compared to its average volume of 74,865. The company has a quick ratio of 1.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $480.94 million, a P/E ratio of 3.03, a P/E/G ratio of 3.87 and a beta of 0.59. ATN International, Inc. has a twelve month low of $13.86 and a twelve month high of $33.41. The stock's fifty day moving average price is $26.98 and its two-hundred day moving average price is $27.11.

ATN International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.29 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.16 annualized dividend and a dividend yield of 3.7%. This is a positive change from ATN International's previous quarterly dividend of $0.28. ATN International's dividend payout ratio is presently 11.28%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Zacks Research raised shares of ATN International from a "strong sell" rating to a "hold" rating in a research report on Monday, August 10th. Weiss Ratings raised shares of ATN International from a "hold (c-)" rating to a "hold (c+)" rating in a research report on Friday, August 21st. Finally, Wall Street Zen upgraded 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 MarketBeat, ATN International has a consensus rating of "Hold".

Institutional Trading of ATN International

A number of institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc acquired a new position in ATN International in the 2nd quarter valued at $25,000. California State Teachers Retirement System boosted its holdings in ATN International by 590.7% during the second quarter. California State Teachers Retirement System now owns 3,709 shares of the technology company's stock valued at $98,000 after acquiring an additional 3,172 shares during the period. Strs Ohio bought a new stake in ATN International during the first quarter valued at about $138,000. Meeder Asset Management Inc. acquired a new stake in shares of ATN International in the second quarter valued at about $217,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of ATN International in the second quarter valued at about $220,000. 65.50% of the stock is currently owned by institutional investors and hedge funds.

ATN International Company 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.

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