Key Points
- Major shareholder Cornelius Prior Jr. sold 500 ATN International shares at an average price of $31.17, receiving $15,585. Following the transaction, he retained 73,936 shares.
- ATN International raised its quarterly dividend to $0.29 per share, equivalent to an annualized payout of $1.16 and a 3.6% yield.
- Analyst sentiment remains cautious: ratings include Hold and Sell, giving the stock an average MarketBeat rating of “Reduce.”
ATN International, Inc. (NASDAQ:ATNI - Get Free Report) major shareholder Cornelius Prior, Jr. sold 500 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $31.17, for a total value of $15,585.00. Following the sale, the insider owned 73,936 shares of the company's stock, valued at approximately $2,304,585.12. This trade represents a 0.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
ATN International Price Performance
ATNI stock opened at $32.11 on Tuesday. The stock's 50 day moving average is $25.58 and its two-hundred day moving average is $26.37. ATN International, Inc. has a 52-week low of $13.86 and a 52-week high of $33.41. The company has a market capitalization of $493.85 million, a PE ratio of 3.12, a P/E/G ratio of 4.10 and a beta of 0.56. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.68.
ATN International Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Tuesday, June 30th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from ATN International's previous quarterly dividend of $0.28. The ex-dividend date was Tuesday, June 30th. ATN International's payout ratio is presently 11.28%.
Institutional Trading of ATN International
Several large investors have recently added to or reduced their stakes in ATNI. Strs Ohio bought a new stake in ATN International during the 1st quarter valued at $138,000. Meeder Asset Management Inc. bought a new position in shares of ATN International in the second quarter worth $217,000. Deutsche Bank AG bought a new position in shares of ATN International in the second quarter worth $262,000. Segall Bryant & Hamill LLC acquired a new position in shares of ATN International during the fourth quarter valued at $448,000. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of ATN International during the fourth quarter valued at $479,000. 65.50% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have commented on the stock. Weiss Ratings upgraded shares of ATN International from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, May 13th. Wall Street Zen raised shares of ATN International from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Zacks Research cut shares of ATN International from a "hold" rating to a "strong sell" rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce".
Check Out Our Latest Report 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.
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