Key Points
- Major shareholder Cornelius Prior, Jr. sold 5,745 ATN International shares at an average price of $31.79, generating $182,633.55. His remaining stake fell 8.92% to 58,665 shares.
- ATN International increased its quarterly dividend to $0.29 per share, or $1.16 annualized, producing a 3.6% yield and an 11.28% payout ratio.
- The stock opened at $31.88 and has a consensus analyst rating of “Hold,” while institutional investors own 65.5% of the company after several firms recently acquired or increased positions.
ATN International, Inc. (NASDAQ:ATNI - Get Free Report) major shareholder Cornelius Prior, Jr. sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $31.75, for a total value of $31,750.00. Following the transaction, the insider directly owned 57,665 shares in the company, valued at $1,830,863.75. This trade represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through 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 Trading Up 1.5%
NASDAQ ATNI opened at $31.88 on Thursday. The stock has a market cap of $490.95 million, a P/E ratio of 3.10, a PEG ratio of 4.03 and a beta of 0.56. The company's fifty day simple moving average is $26.29 and its 200-day simple moving average is $26.80. The company has a current ratio of 1.63, a quick ratio of 1.59 and a debt-to-equity ratio of 0.68. ATN International, Inc. has a 52 week low of $13.86 and a 52 week high of $33.41.
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 issued a $0.29 dividend. This is an increase from ATN International's previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, June 30th. ATN International's dividend payout ratio (DPR) is currently 11.28%.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Weiss Ratings restated a "hold (c-)" rating on shares of ATN International in a research note on Friday, August 7th. Zacks Research raised ATN International from a "strong sell" rating to a "hold" rating in a report on Monday, August 10th. Finally, Wall Street Zen upgraded ATN International from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold".
Read Our Latest Stock Analysis on ATN International
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of ATN International during the second quarter valued at approximately $24,457,000. Bank of New York Mellon Corp bought a new position in shares of ATN International in the second quarter worth $3,323,000. Empowered Funds LLC acquired a new position in shares of ATN International during the second quarter valued at $2,481,000. Brown Brothers Harriman & Co. increased its holdings 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 purchasing an additional 35,394 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of ATN International during the second quarter valued at about $739,000. 65.50% of the stock is owned by institutional investors and hedge funds.
ATN International Company Profile
(
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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