ATN International (NASDAQ:ATNI) Shares Cross Above 200 Day Moving Average - Here's What Happened

Key Points

• ATN International shares rose above their 200-day moving average, reaching $28.22 before closing at $28.04, up 0.8%. The stock’s average analyst rating is “Hold.”
• The company announced a quarterly dividend of $0.29 per share, equivalent to $1.16 annually and a 4.1% yield; its payout ratio is 11.28%.
• Institutional ownership stands at 65.5% after several investors initiated positions, while insiders sold 56,638 shares worth approximately $1.78 million over the past quarter.

ATN International, Inc. (NASDAQ:ATNI - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $27.47 and traded as high as $28.22. ATN International shares last traded at $28.04, with a volume of 70,763 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ATNI. Zacks Research upgraded shares of ATN International from a "strong sell" rating to a "hold" rating in a research report on Monday, August 10th. Wall Street Zen lowered shares of ATN International from a "strong-buy" rating to a "buy" rating in a research report on Sunday, September 20th. 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 equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, ATN International presently has an average rating of "Hold".

ATN International Stock Up 0.8%

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 stock has a 50 day simple moving average of $29.14 and a 200 day simple moving average of $27.47. The firm has a market capitalization of $431.82 million, a PE ratio of 2.73, a PEG ratio of 3.57 and a beta of 0.63.

ATN International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Saturday, October 3rd will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Friday, October 2nd. ATN International's payout ratio is presently 11.28%.

Insiders Place Their Bets

In other ATN International news, major shareholder Cornelius B. Prior, Jr. sold 10,000 shares of the firm's stock in a transaction on Monday, August 24th. The shares were sold at an average price of $31.34, for a total value of $313,400.00. Following the sale, the insider owned 37,165 shares of the company's stock, valued at $1,164,751.10. This trade represents a 21.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patricia Jacobs sold 1,500 shares of the firm's stock in a transaction on Monday, August 31st. The stock was sold at an average price of $30.04, for a total transaction of $45,060.00. Following the completion of the sale, the director directly owned 19,958 shares in the company, valued at approximately $599,538.32. This trade represents a 6.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 56,638 shares of company stock valued at $1,778,513 over the last quarter. 5.60% of the stock is currently owned by company insiders.

Institutional Trading of ATN International

A number of institutional investors have recently modified their holdings of ATNI. Empowered Funds LLC bought a new stake in shares of ATN International in the second quarter worth about $2,481,000. Bank of America Corp DE bought a new position in ATN International during the 2nd quarter valued at approximately $678,000. Hsbc Holdings PLC bought a new position in ATN International during the 2nd quarter valued at approximately $339,000. Canada Pension Plan Investment Board bought a new position in ATN International during the 2nd quarter valued at approximately $220,000. Finally, Legal & General Group Plc purchased a new stake in ATN International in the 2nd quarter worth approximately $25,000. 65.50% of the stock is currently owned by hedge funds and other institutional investors.

About ATN International

ATN International, Inc is a telecommunications company that provides wireless and wireline communications services in rural and underserved markets. Its offerings include mobile and fixed wireless connectivity, broadband internet, voice services, fiber and enterprise connectivity, managed information technology services, wholesale telecommunications, and related infrastructure services.

The company serves customers in selected markets across the United States and the Caribbean. Its operations have included telecommunications networks and broadband services in Alaska and other rural U.S.

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.