Insider Selling: ATN International (NASDAQ:ATNI) Major Shareholder Sells 5,367 Shares of Stock

Key Points

• Major shareholder Cornelius Prior Jr. sold 5,367 ATN International shares at an average price of $31.32, totaling approximately $168,094. The sale reduced his holdings by 21.01% to 20,174 shares.
• ATN International shares fell 1.5% to $28.73 during Friday trading. The stock has traded between $13.86 and $33.41 over the past year, with a market capitalization of approximately $442.5 million.
• Analyst sentiment improved, with upgrades from Weiss Ratings, Wall Street Zen, and Zacks Research, although the overall consensus remains Hold. Institutional investors and hedge funds own 65.5% of the company.

ATN International, Inc. (NASDAQ:ATNI - Get Free Report) major shareholder Cornelius Prior, Jr. sold 5,367 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $31.32, for a total value of $168,094.44. Following the completion of the sale, the insider owned 20,174 shares of the company's stock, valued at approximately $631,849.68. This trade represents a 21.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

ATN International Stock Down 1.5%

Shares of NASDAQ:ATNI traded down $0.44 during mid-day trading on Friday, hitting $28.73. 156,605 shares of the company traded hands, compared to its average volume of 75,994. The firm's 50 day simple moving average is $28.10 and its 200 day simple moving average is $27.27. The firm has a market cap of $442.53 million, a P/E ratio of 2.79, a PEG ratio of 3.82 and a beta of 0.59. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.59 and a current ratio of 1.63. ATN International, Inc. has a 52-week low of $13.86 and a 52-week high of $33.41.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On ATN International

Institutional investors have recently made changes to their positions in the business. Legal & General Group Plc acquired a new stake in shares of ATN International during the second quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new stake in shares of ATN International in the second quarter worth $217,000. Canada Pension Plan Investment Board acquired a new stake in ATN International in the second quarter valued at $220,000. Deutsche Bank AG bought a new position in ATN International during the 2nd quarter valued at $262,000. Finally, Algert Global LLC acquired a new position in ATN International during the 2nd quarter worth $275,000. 65.50% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.