Insider Selling: ATN International (NASDAQ:ATNI) Major Shareholder Sells 6,000 Shares of Stock

Key Points

• ATN International major shareholder Cornelius Prior, Jr. sold 6,000 shares on June 2 at an average price of $28.30, totaling $169,800. After the sale, he still held 109,036 shares, a 5.22% reduction in his position.
• Insider selling has been broader than this single trade, with the article noting multiple recent sales in May and June, including transactions of 2,000, 12,610, 17,500 and 19,100 shares, suggesting a sustained trimming of ownership.
• ATN International’s recent operating and stock performance has been mixed: the company missed quarterly EPS estimates and shares recently traded around $27.63, near their 50-day average, while analysts currently rate the stock a consensus Hold.

ATN International, Inc. (NASDAQ:ATNI - Get Free Report) major shareholder Cornelius Prior, Jr. sold 6,000 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $28.30, for a total transaction of $169,800.00. Following the completion of the transaction, the insider owned 109,036 shares of the company's stock, valued at approximately $3,085,718.80. This represents a 5.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

ATN International Price Performance

Shares of ATNI stock traded down $0.74 during mid-day trading on Monday, reaching $27.63. The company's stock had a trading volume of 90,027 shares, 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 market cap of $424.95 million, a P/E ratio of -27.91, a PEG ratio of 3.83 and a beta of 0.54. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.21. The firm's 50-day moving average is $27.29 and its two-hundred day moving average is $25.47.

ATN International (NASDAQ:ATNI - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $182.22 million during the quarter, compared to analyst estimates of $183.40 million. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st were paid a $0.275 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 4.0%. ATN International's dividend payout ratio is currently -111.11%.

Wall Street Analyst Weigh In

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

Key Stories 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

Institutional Investors Weigh In On ATN International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in ATN International by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 122,634 shares of the technology company's stock valued at $3,338,000 after acquiring an additional 1,132 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of ATN International by 7.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company's stock valued at $583,000 after purchasing an additional 2,397 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of ATN International by 9.6% in the 3rd quarter. Gamco Investors INC. ET AL now owns 76,936 shares of the technology company's stock valued at $1,152,000 after purchasing an additional 6,715 shares during the last quarter. Strs Ohio bought a new position in shares of ATN International in the 1st quarter valued at about $138,000. Finally, Segall Bryant & Hamill LLC boosted its stake in shares of ATN International by 49.3% in the 1st quarter. Segall Bryant & Hamill LLC now owns 29,341 shares of the technology company's stock valued at $799,000 after purchasing an additional 9,684 shares during the last quarter. Institutional investors and hedge funds own 65.50% of the company's stock.

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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