Key Points
- Major shareholder Cornelius Prior Jr. sold 2,500 ATN International shares at an average price of $32.05, generating $80,125. The sale reduced his direct ownership by 3.73% to 64,436 shares.
- ATN International recently increased its quarterly dividend to $0.29 per share, or $1.16 annualized, representing a 3.7% yield and an 11.28% payout ratio.
- The stock opened at $31.57, near its 12-month high, while institutional investors own 65.5% of shares. Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating.
ATN International, Inc. (NASDAQ:ATNI - Get Free Report) major shareholder Cornelius Prior, Jr. sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $32.05, for a total value of $80,125.00. Following the completion of the sale, the insider directly owned 64,436 shares of the company's stock, valued at approximately $2,065,173.80. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.
ATN International Stock Down 0.4%
Shares of NASDAQ:ATNI opened at $31.57 on Tuesday. The stock has a market cap of $486.18 million, a price-to-earnings ratio of 3.07, a PEG ratio of 4.07 and a beta of 0.56. The company has a quick ratio of 1.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.68. ATN International, Inc. has a 12-month low of $13.86 and a 12-month high of $33.41. The business's 50 day moving average is $26.09 and its 200 day moving average is $26.67.
ATN International Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.29 per share. This is a boost from ATN International's previous quarterly dividend of $0.28. The ex-dividend date was Tuesday, June 30th. This represents a $1.16 annualized dividend and a yield of 3.7%. ATN International's dividend payout ratio (DPR) is 11.28%.
Hedge Funds Weigh In On ATN International
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. purchased a new stake in ATN International during the fourth quarter worth about $479,000. Gamco Investors INC. ET AL boosted its stake in 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 acquiring an additional 10,253 shares during the last quarter. Marshall Wace LLP grew its position in shares of ATN International by 137.9% during the 2nd quarter. Marshall Wace LLP now owns 47,804 shares of the technology company's stock valued at $777,000 after acquiring an additional 27,714 shares during the period. Ameriprise Financial Inc. grew its position in shares of ATN International by 7.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company's stock valued at $583,000 after acquiring an additional 2,397 shares during the period. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of ATN International during the 4th quarter worth approximately $448,000. 65.50% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have recently issued reports on ATNI. Zacks Research upgraded shares of ATN International from a "strong sell" rating to a "hold" rating in a research note on Monday, August 10th. Weiss Ratings restated a "hold (c-)" rating on shares of ATN International in a report on Friday, August 7th. Finally, Wall Street Zen raised 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 currently has an average rating of "Hold".
View Our Latest Stock Analysis on ATNI
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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