Key Points
- ATN International major shareholder Cornelius Prior, Jr. sold 12,610 shares on June 1 at an average price of $28.29, totaling about $356,737. After the sale, he still owned 115,036 shares, a 9.88% reduction in his stake.
- The stock fell 2.6% and opened at $27.63, near its recent trading range. ATN International remains below its 52-week high of $30.45 but well above its 52-week low of $13.86.
- Recent operating results were mixed, with the company posting a quarterly loss of $0.18 per share versus expectations for a $0.12 profit and revenue slightly below estimates. Analysts currently have a consensus rating of Hold on the stock.
ATN International, Inc. (NASDAQ:ATNI - Get Free Report) major shareholder Cornelius Prior, Jr. sold 1,000 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $26.25, for a total value of $26,250.00. Following the completion of the sale, the insider owned 193,000 shares in the company, valued at $5,066,250. This trade represents a 0.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
ATN International Trading Down 2.6%
Shares of ATNI stock opened at $27.63 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.21. ATN International, Inc. has a 52-week low of $13.86 and a 52-week high of $30.45. The company has a market capitalization of $424.95 million, a PE ratio of -27.91, a price-to-earnings-growth ratio of 3.83 and a beta of 0.54. The business's fifty day moving average is $27.29 and its 200 day moving average is $25.47.
ATN International (NASDAQ:ATNI - Get Free Report) last issued 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 positive return on equity of 0.55% and a negative net margin of 1.20%.The business had revenue of $182.22 million during the quarter, compared to analysts' expectations of $183.40 million. On average, equities research analysts anticipate that ATN International, Inc. will post 0.74 EPS for the current fiscal year.
Institutional Investors Weigh In On ATN International
A number of large investors have recently added to or reduced their stakes in ATNI. Brown Brothers Harriman & Co. raised its position in ATN International by 5.6% during the third quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company's stock valued at $9,918,000 after purchasing an additional 35,394 shares in the last quarter. Marshall Wace LLP raised its position in ATN International by 137.9% during the second quarter. Marshall Wace LLP now owns 47,804 shares of the technology company's stock valued at $777,000 after purchasing an additional 27,714 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in ATN International during the fourth quarter valued at about $479,000. Segall Bryant & Hamill LLC purchased a new stake in ATN International during the fourth quarter valued at about $448,000. Finally, Gamco Investors INC. ET AL raised its position in ATN International by 17.1% during the second quarter. Gamco Investors INC. ET AL now owns 70,221 shares of the technology company's stock valued at $1,141,000 after purchasing an additional 10,253 shares in the last quarter. Hedge funds and other institutional investors own 65.50% of the company's stock.
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
Analyst Ratings Changes
ATNI has been the topic of a number of recent analyst reports. Wall Street Zen downgraded ATN International from a "buy" rating to a "hold" rating in a research report on Saturday, March 21st. Weiss Ratings upgraded ATN International from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold".
View Our Latest Analysis on ATN International
About ATN International
(
Get Free Report)
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.
Further Reading
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