ATN International (NASDAQ:ATNI) Major Shareholder Cornelius Prior Jr Sells 10,000 Shares

Key Points

• Major shareholder Cornelius Prior Jr. sold 10,000 ATN International shares for $313,400 at an average price of $31.34, reducing his ownership by 21.2% to 37,165 shares.
• ATN International shares recently traded at $30.63, while the company increased its quarterly dividend to $0.29, or $1.16 annually, producing a 3.8% yield.
• Institutional investors own 65.5% of the stock, with BlackRock and other firms establishing or expanding positions; analyst sentiment remains broadly neutral, with an average “Hold” rating.

ATN International, Inc. (NASDAQ:ATNI - Get Free Report) major shareholder Cornelius Prior, Jr. sold 10,000 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $31.34, for a total transaction of $313,400.00. Following the sale, the insider owned 37,165 shares of the company's stock, valued at approximately $1,164,751.10. This represents a 21.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

ATN International Trading Down 0.3%

NASDAQ:ATNI traded down $0.08 during trading hours on Wednesday, hitting $30.63. The company had a trading volume of 48,991 shares, compared to its average volume of 75,042. 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, Inc. has a 52 week low of $13.86 and a 52 week high of $33.41. The company has a market capitalization of $471.70 million, a PE ratio of 2.98, a price-to-earnings-growth ratio of 3.97 and a beta of 0.56. The stock has a 50-day moving average price of $26.57 and a 200 day moving average price of $26.96.

ATN International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Tuesday, June 30th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.8%. This is a boost from ATN International's previous quarterly dividend of $0.28. The ex-dividend date was Tuesday, June 30th. ATN International's dividend payout ratio (DPR) is 11.28%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ATNI. BlackRock Inc. bought a new stake in ATN International in the second quarter worth $24,457,000. Bank of New York Mellon Corp purchased a new position in shares of ATN International in the 2nd quarter worth about $3,323,000. Empowered Funds LLC purchased a new position in shares of ATN International in the 2nd quarter worth about $2,481,000. Brown Brothers Harriman & Co. boosted its stake in ATN International by 5.6% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company's stock worth $9,918,000 after purchasing an additional 35,394 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in ATN International during the 2nd quarter valued at about $739,000. Hedge funds and other institutional investors own 65.50% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ATNI shares. Weiss Ratings upgraded ATN International from a "hold (c-)" rating to a "hold (c+)" rating in a research note on Friday. Zacks Research upgraded ATN International from a "strong sell" rating to a "hold" rating in a report on Monday, August 10th. Finally, Wall Street Zen upgraded shares of ATN International from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, ATN International presently has an average rating of "Hold".

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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