Insider Selling: ATN International (NASDAQ:ATNI) Major Shareholder Sells 5,745 Shares of Stock

Key Points

• Major shareholder Cornelius Prior Jr. sold 5,745 ATN International shares at an average price of $31.79, generating $182,633.55. His remaining stake fell 8.92% to 58,665 shares.
• ATNI shares recently traded at $31.88, up 1.5%, near their 12-month high of $33.41. The company has a market capitalization of about $491 million and a price-to-earnings ratio of 3.10.
• ATN International increased its quarterly dividend to $0.29 per share, equivalent to a $1.16 annualized payout and a 3.6% yield. Analysts maintain a consensus “Hold” rating, while institutional investors own 65.5% of the stock.

ATN International, Inc. (NASDAQ:ATNI - Get Free Report) major shareholder Cornelius Prior, Jr. sold 5,745 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $31.79, for a total value of $182,633.55. Following the sale, the insider owned 58,665 shares in the company, valued at $1,864,960.35. The trade was a 8.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large 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 Up 1.5%

Shares of ATNI traded up $0.46 during trading hours on Wednesday, reaching $31.88. 78,972 shares of the company traded hands, compared to its average volume of 74,993. ATN International, Inc. has a 12-month low of $13.86 and a 12-month high of $33.41. The stock's fifty day moving average price is $26.19 and its 200 day moving average price is $26.74. The firm has a market cap of $491.05 million, a price-to-earnings ratio of 3.10, a PEG ratio of 4.07 and a beta of 0.56. The company has a current ratio of 1.63, a quick ratio of 1.59 and a debt-to-equity ratio of 0.68.

ATN International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Tuesday, June 30th were given a dividend of $0.29 per share. This is an increase from ATN International's previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 3.6%. The ex-dividend date was Tuesday, June 30th. ATN International's dividend payout ratio (DPR) is 11.28%.

Institutional Trading of ATN International

A number of institutional investors have recently modified their holdings of the company. Legal & General Group Plc bought a new position in ATN International during the 2nd quarter worth $25,000. Strs Ohio bought a new position in ATN International during the first quarter valued at about $138,000. Meeder Asset Management Inc. acquired a new position in ATN International during the second quarter worth about $217,000. Canada Pension Plan Investment Board acquired a new position in ATN International during the second quarter worth about $220,000. Finally, Deutsche Bank AG bought a new stake in ATN International in the second quarter worth about $262,000. Hedge funds and other institutional investors own 65.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ATNI shares. Zacks Research raised shares of ATN International from a "strong sell" rating to a "hold" rating in a research note on Monday, August 10th. Weiss Ratings reissued a "hold (c-)" rating on shares of ATN International in a research note on Friday, August 7th. 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 investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus 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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