ATN International (NASDAQ:ATNI) Shares Break Above Two Hundred Day Moving Average - Here's Why

Key Points

• ATN International shares moved above their 200-day moving average, reaching $28.13 and last trading at $28.02, versus the average of $27.06.
• The company reported quarterly EPS of $1.09, beating estimates of $0.19, while revenue of $183.24 million came in slightly below the $184.90 million forecast. Analysts’ consensus rating is Hold.
• ATN paid a quarterly dividend of $0.29 per share, equivalent to an annualized yield of about 4.1%.

ATN International, Inc. (NASDAQ:ATNI - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $27.06 and traded as high as $28.13. ATN International shares last traded at $28.02, with a volume of 143,920 shares trading hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on ATNI shares. Wall Street Zen cut ATN International from a "strong-buy" rating to a "buy" rating in a research report on Sunday, September 20th. Zacks Research raised ATN International from a "strong sell" rating to a "hold" rating in a research report on Monday, August 10th. Finally, Weiss Ratings raised ATN International from a "hold (c-)" rating to a "hold (c+)" rating in a research note on Friday, August 21st. Two investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold".

ATN International Stock Performance

The company has a current ratio of 1.63, a quick ratio of 1.59 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $431.51 million, a P/E ratio of 2.50, a price-to-earnings-growth ratio of 3.26 and a beta of 0.73. The company's 50 day moving average is $27.93 and its 200-day moving average is $27.06.

ATN International (NASDAQ:ATNI - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The technology company reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.90. The firm had revenue of $183.24 million for the quarter, compared to analyst estimates of $184.90 million. ATN International had a net margin of 22.55% and a negative return on equity of 9.46%. Equities analysts anticipate that ATN International, Inc. will post 0.78 EPS for the current fiscal year.

ATN International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Saturday, October 3rd were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, October 2nd. ATN International's dividend payout ratio is presently 10.37%.

Insider Transactions at ATN International

In other news, Director Patricia Jacobs sold 1,500 shares of the business's stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $30.04, for a total value of $45,060.00. Following the completion of the sale, the director owned 19,958 shares in the company, valued at approximately $599,538.32. The trade was a 6.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Cornelius B. Prior, Jr. sold 10,000 shares of the company's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $31.34, for a total value of $313,400.00. Following the transaction, the insider owned 37,165 shares in the company, valued at $1,164,751.10. This trade represents a 21.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 44,638 shares of company stock worth $1,415,113 in the last 90 days. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ATN International

Large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its stake in shares of ATN International by 43.9% in the third quarter. Russell Investments Group Ltd. now owns 8,221 shares of the technology company's stock worth $229,000 after acquiring an additional 2,508 shares during the last quarter. Empowered Funds LLC bought a new position in ATN International in the second quarter valued at about $2,481,000. Bank of America Corp DE bought a new position in shares of ATN International in the second quarter worth about $678,000. Hsbc Holdings PLC purchased a new position in shares of ATN International during the 2nd quarter valued at approximately $339,000. Finally, Canada Pension Plan Investment Board purchased a new position in ATN International during the 2nd quarter valued at about $220,000. Institutional investors own 65.50% of the company's stock.

ATN International Company Profile

ATN International, Inc is a telecommunications company that provides wireless, broadband, wireline, and related communications services. Through its operating businesses, the company offers mobile voice and data, internet access, fixed-line telephone service, video, enterprise connectivity, and managed network solutions.

ATN focuses on serving rural, remote, and underserved communities where communications infrastructure may be limited. Its operations have included wireless and broadband networks in the United States, as well as telecommunications businesses in international markets such as Bermuda and the Caribbean.

The company was founded in 1987 and was formerly known as Atlantic Tele-Network, Inc It adopted the name ATN International to reflect the broader scope of its telecommunications operations.

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