Insider Selling: ATN International (NASDAQ:ATNI) Major Shareholder Sells 2,000 Shares of Stock

Key Points

• ATN International insider selling: Major shareholder Cornelius Prior, Jr. sold 2,000 shares at an average price of $27.25, a transaction worth $54,500. After the sale, he still held 186,000 shares, and the trade reduced his position by about 1.06%.
• Stock and earnings backdrop: ATNI shares fell 2.6% to $27.63, near their 50-day moving average. The company also recently reported a quarterly loss of $0.18 per share, missing analysts’ estimate of a $0.12 profit.
• Dividend and analyst sentiment: ATN International pays a quarterly dividend that annualizes to $1.10 per share, implying a 4.0% yield. Wall Street’s consensus rating remains Hold, with recent analyst actions including one downgrade and one upgrade to hold.

ATN International, Inc. (NASDAQ:ATNI - Get Free Report) major shareholder Cornelius Prior, Jr. sold 2,000 shares of the company's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $27.25, for a total transaction of $54,500.00. Following the transaction, the insider owned 186,000 shares in the company, valued at approximately $5,068,500. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

ATN International Stock Down 2.6%

Shares of ATNI traded down $0.74 during mid-day trading on Monday, hitting $27.63. 90,027 shares of the company traded hands, compared to its average volume of 62,900. ATN International, Inc. has a 1-year low of $13.86 and a 1-year high of $30.45. The company has a quick ratio of 1.16, a current ratio of 1.21 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $424.95 million, a PE ratio of -27.91, a price-to-earnings-growth ratio of 3.83 and a beta of 0.54. The business has a 50 day moving average of $27.29 and a 200 day moving average of $25.47.

ATN International (NASDAQ:ATNI - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.30). ATN International had a negative net margin of 1.20% and a positive return on equity of 0.55%. The company had revenue of $182.22 million for the quarter, compared to analyst estimates of $183.40 million. Equities research analysts anticipate that ATN International, Inc. will post 0.74 EPS for the current year.

ATN International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.275 per share. The ex-dividend date was Tuesday, March 31st. This represents a $1.10 annualized dividend and a dividend yield of 4.0%. ATN International's dividend payout ratio is -111.11%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio purchased a new position in shares of ATN International during the 1st quarter valued at approximately $138,000. Segall Bryant & Hamill LLC purchased a new position in shares of ATN International during the 4th quarter valued at approximately $448,000. Hillsdale Investment Management Inc. purchased a new position in shares of ATN International during the 4th quarter valued at approximately $479,000. Ameriprise Financial Inc. lifted its position in shares of ATN International by 7.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company's stock valued at $583,000 after buying an additional 2,397 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of ATN International by 137.9% during the 2nd quarter. Marshall Wace LLP now owns 47,804 shares of the technology company's stock valued at $777,000 after buying an additional 27,714 shares in the last quarter. Hedge funds and other institutional investors own 65.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ATNI shares. Wall Street Zen downgraded shares of ATN International from a "buy" rating to a "hold" rating in a report on Saturday, March 21st. Weiss Ratings upgraded shares of ATN International from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, May 13th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of "Hold".

ATN International News Roundup

Here are the key news stories impacting ATN International this week:

• Negative Sentiment: Cornelius B. Prior, Jr. sold 19,100 shares at an average price of $27.96, reducing his stake by 17.84%. SEC filing
• Negative Sentiment: Additional insider sales followed in multiple smaller transactions in June and May, including sales of 2,000, 6,000, 12,610, 17,500, and other shares, suggesting a sustained pattern of reducing ownership. SEC filing
• Neutral Sentiment: The sales were executed at prices mostly in the $26.25 to $28.30 range, near where the stock has recently been trading, so the transactions may also reflect portfolio rebalancing or profit-taking rather than a fundamental shift. SEC filing

About ATN International

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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