Key Points
- Major shareholder Cornelius Prior Jr. sold 7,000 ATN International shares at an average price of $32.55, generating $227,850. After the transaction, he retained 66,936 shares, a 9.47% reduction in his holdings.
- ATN International recently raised its quarterly dividend to $0.29 per share, equivalent to an annualized $1.16 dividend and a 3.7% yield.
- ATNI shares opened at $31.04, with the company valued at approximately $477 million and trading at a P/E ratio of 3.02. Analysts’ consensus rating remains “Hold,” while institutional investors own 65.5% of the stock.
ATN International, Inc. (NASDAQ:ATNI - Get Free Report) major shareholder Cornelius Prior, Jr. sold 7,000 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $32.55, for a total value of $227,850.00. Following the sale, the insider directly owned 66,936 shares in the company, valued at $2,178,766.80. This trade represents a 9.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
ATN International Stock Down 0.8%
NASDAQ ATNI opened at $31.04 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.16 and a current ratio of 1.63. The company has a market capitalization of $477.43 million, a P/E ratio of 3.02, a P/E/G ratio of 4.01 and a beta of 0.56. ATN International, Inc. has a one year low of $13.86 and a one year high of $33.41. The stock has a 50 day moving average price of $25.74 and a 200-day moving average price of $26.49.
ATN International Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Tuesday, June 30th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This is a positive change from ATN International's previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 3.7%. ATN International's payout ratio is currently 11.28%.
Analyst Ratings Changes
Several equities analysts have commented on ATNI shares. Weiss Ratings reissued a "hold (c-)" rating on shares of ATN International in a research note on Friday, August 7th. Zacks Research upgraded shares of ATN International from a "strong sell" rating to a "hold" rating in a research report on Monday. Finally, Wall Street Zen upgraded shares of ATN International from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold".
View Our Latest Report on ATN International
Institutional Investors Weigh In On ATN International
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in ATN International in the 2nd quarter worth about $24,457,000. Brown Brothers Harriman & Co. raised its stake in shares of 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 acquiring an additional 35,394 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of ATN International during the second quarter valued at approximately $3,323,000. Gamco Investors INC. ET AL boosted its holdings in shares of ATN International by 17.1% in 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 during the period. Finally, Marshall Wace LLP boosted its holdings in shares of ATN International by 137.9% in 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 during the period. 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.
Further Reading
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