Insider Selling: ATN International (NASDAQ:ATNI) Major Shareholder Sells $139,635.00 in Stock

Key Points

• Major shareholder Cornelius Prior Jr. sold 4,500 ATN International shares for $139,635 at an average price of $31.03, reducing his direct ownership by 14.98% to 25,541 shares.
• ATNI shares fell 1.5% to $28.73 in Friday trading. The company has a market capitalization of approximately $442.5 million and trades at a reported P/E ratio of 2.79.
• Analyst sentiment improved, with rating upgrades from Wall Street Zen, Weiss Ratings, and Zacks Research, though the overall consensus remains “Hold.” Institutional investors own 65.5% of the company.

ATN International, Inc. (NASDAQ:ATNI - Get Free Report) major shareholder Cornelius Prior, Jr. sold 4,500 shares of ATN International stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $31.03, for a total value of $139,635.00. Following the completion of the transaction, the insider directly owned 25,541 shares in the company, valued at approximately $792,537.23. This represents a 14.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

ATN International Trading Down 1.5%

ATNI stock traded down $0.44 during trading on Friday, hitting $28.73. The company had a trading volume of 156,605 shares, compared to its average volume of 75,994. ATN International, Inc. has a one year low of $13.86 and a one year high of $33.41. The company has a current ratio of 1.63, a quick ratio of 1.59 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average of $28.10 and a 200-day moving average of $27.27. The stock has a market cap of $442.53 million, a PE ratio of 2.79, a PEG ratio of 3.82 and a beta of 0.59.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wall Street Zen raised ATN International from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 12th. Weiss Ratings upgraded ATN International from a "hold (c-)" rating to a "hold (c+)" rating in a report on Friday, August 21st. Finally, Zacks Research raised shares of ATN International from a "strong sell" rating to a "hold" rating in a research report on Monday, August 10th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold".

Hedge Funds Weigh In On ATN International

A number of hedge funds have recently added to or reduced their stakes in ATNI. BlackRock Inc. purchased a new stake in shares of ATN International in the second quarter worth approximately $24,457,000. Bank of New York Mellon Corp purchased a new position in shares of ATN International during the second quarter valued at approximately $3,323,000. Empowered Funds LLC bought a new stake in ATN International during the second quarter worth $2,481,000. Segall Bryant & Hamill LLC grew its holdings in ATN International by 49.3% during the first quarter. Segall Bryant & Hamill LLC now owns 29,341 shares of the technology company's stock worth $799,000 after buying an additional 9,684 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in ATN International in the 2nd quarter valued at $739,000. Institutional investors and hedge funds own 65.50% of the company's stock.

About ATN International

ATN International, Inc is a telecommunications company that provides wireless and wireline communications services in rural and underserved markets. Its offerings include mobile and fixed wireless connectivity, broadband internet, voice services, fiber and enterprise connectivity, managed information technology services, wholesale telecommunications, and related infrastructure services.

The company serves customers in selected markets across the United States and the Caribbean. Its operations have included telecommunications networks and broadband services in Alaska and other rural U.S.

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