Key Points
- Major shareholder Cornelius Prior, Jr. sold 500 shares of ATN International at $27.10 each, reducing his holdings by about 0.58% and leaving him with 86,436 shares.
- ATN International shares were up 2.4% to $27.69, with the stock trading near its 50-day and 200-day moving averages and well below its 52-week high of $30.45.
- The company recently raised its quarterly dividend to $0.29 per share, but it also reported a quarterly earnings miss, and analysts currently rate the stock a consensus Hold.
ATN International, Inc. (NASDAQ:ATNI - Get Free Report) major shareholder Cornelius Prior, Jr. sold 500 shares of the business's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $27.10, for a total value of $13,550.00. Following the transaction, the insider owned 86,436 shares in the company, valued at approximately $2,342,415.60. This trade represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
ATN International Trading Up 2.4%
Shares of NASDAQ:ATNI opened at $27.69 on Tuesday. The business's 50-day moving average is $27.22 and its 200 day moving average is $25.83. ATN International, Inc. has a 1 year low of $13.86 and a 1 year high of $30.45. The firm has a market capitalization of $425.87 million, a P/E ratio of -27.97, a P/E/G ratio of 3.65 and a beta of 0.54. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.21 and a quick ratio of 1.16.
ATN International (NASDAQ:ATNI - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.30). The business had revenue of $182.22 million during the quarter, compared to analyst estimates of $183.40 million. ATN International had a positive return on equity of 0.55% and a negative net margin of 1.20%. On average, research analysts predict that ATN International, Inc. will post 0.74 earnings per share for the current fiscal year.
ATN International Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Tuesday, June 30th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, June 30th. This is an increase from ATN International's previous quarterly dividend of $0.28. ATN International's payout ratio is -111.11%.
Wall Street Analyst Weigh In
A number of analysts recently commented on ATNI shares. Wall Street Zen cut shares of ATN International from a "buy" rating to a "hold" rating in a research note on Saturday, March 21st. Weiss Ratings raised shares of ATN International from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, May 13th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold".
Get Our Latest Analysis on ATN International
Institutional Investors Weigh In On ATN International
Hedge funds have recently bought and sold shares of the stock. Strs Ohio acquired a new stake in shares of ATN International during the 1st quarter worth approximately $138,000. Segall Bryant & Hamill LLC acquired a new position in shares of ATN International in the 4th quarter valued at $448,000. Hillsdale Investment Management Inc. acquired a new position in shares of ATN International in the 4th quarter valued at $479,000. Ameriprise Financial Inc. boosted its holdings in ATN International by 7.2% during the second quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company's stock worth $583,000 after buying an additional 2,397 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in ATN International by 137.9% during the second quarter. Marshall Wace LLP now owns 47,804 shares of the technology company's stock worth $777,000 after buying an additional 27,714 shares in the last quarter. Hedge funds and other institutional investors own 65.50% of the company's stock.
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.
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