Insider Selling: ATN International (NASDAQ:ATNI) Major Shareholder Sells 5,000 Shares of Stock

Key Points

• Major shareholder Cornelius Prior, Jr. sold 5,000 ATN International shares at $27.25 each, a transaction worth $136,250. After the sale, he still owned 188,000 shares.
• ATN International shares fell 2.6% to $27.63 amid heavier-than-usual trading volume. The stock remains near its 50-day average and well above its 12-month low.
• The company reported weaker-than-expected quarterly results, posting a loss of $0.18 per share versus analyst estimates for a $0.12 profit. Revenue also came in slightly below expectations, while analysts currently rate the stock a Hold.

ATN International, Inc. (NASDAQ:ATNI - Get Free Report) major shareholder Cornelius Prior, Jr. sold 5,000 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $27.25, for a total transaction of $136,250.00. Following the completion of the transaction, the insider directly owned 188,000 shares of the company's stock, valued at approximately $5,123,000. The trade was a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

ATN International Stock Down 2.6%

NASDAQ:ATNI traded down $0.74 on Monday, reaching $27.63. The stock had a trading volume of 90,027 shares, compared to its average volume of 62,900. The company has a current ratio of 1.21, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01. The company has a 50-day moving average of $27.29 and a 200 day moving average of $25.47. The stock has a market cap of $424.95 million, a P/E ratio of -27.91, a price-to-earnings-growth ratio of 3.83 and a beta of 0.54. ATN International, Inc. has a 12-month low of $13.86 and a 12-month high of $30.45.

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 for the quarter, missing analysts' consensus estimates of $0.12 by ($0.30). The firm had revenue of $182.22 million during the quarter, compared to analysts' expectations of $183.40 million. ATN International had a negative net margin of 1.20% and a positive return on equity of 0.55%. On average, research analysts predict that ATN International, Inc. will post 0.74 earnings per share for the current year.

ATN International Dividend Announcement

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

Analyst Upgrades and Downgrades

ATNI has been the topic of several research analyst reports. Weiss Ratings raised shares of ATN International from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, May 13th. Wall Street Zen cut shares of ATN International from a "buy" rating to a "hold" rating in a research report on Saturday, March 21st. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, ATN International presently has an average rating of "Hold".

Hedge Funds Weigh In On ATN International

Several large investors have recently modified their holdings of the stock. Brown Brothers Harriman & Co. lifted its position in shares of ATN International by 5.6% during the third 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 during the last quarter. Bank of New York Mellon Corp lifted its position in shares of ATN International by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 122,634 shares of the technology company's stock worth $3,338,000 after purchasing an additional 1,132 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of ATN International by 9.6% during the third quarter. Gamco Investors INC. ET AL now owns 76,936 shares of the technology company's stock worth $1,152,000 after purchasing an additional 6,715 shares during the last quarter. Marshall Wace LLP raised its stake in ATN International by 137.9% during the second quarter. Marshall Wace LLP now owns 47,804 shares of the technology company's stock worth $777,000 after acquiring an additional 27,714 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in ATN International by 7.2% during the second quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company's stock worth $583,000 after acquiring an additional 2,397 shares during the period. Institutional investors own 65.50% of the company's stock.

Key Headlines Impacting ATN International

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.

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.