Key Points
- Major shareholder Cornelius Prior Jr. sold 10,000 ATN International shares at an average price of $31.86, receiving $318,600. His remaining stake fell 17.34% to 47,665 shares.
- ATN International raised its quarterly dividend to $0.29 per share, or $1.16 annually, representing a 3.7% yield and an 11.28% payout ratio.
- The stock opened at $30.95, near its 52-week high, while institutional investors own 65.5% of shares. Analyst sentiment remains neutral, with a consensus “Hold” rating despite some recent upgrades.
ATN International, Inc. (NASDAQ:ATNI - Get Free Report) major shareholder Cornelius Prior, Jr. sold 500 shares of ATN International stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $31.25, for a total transaction of $15,625.00. Following the completion of the sale, the insider owned 47,165 shares of the company's stock, valued at $1,473,906.25. This represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
ATN International Stock Down 0.6%
ATNI opened at $30.95 on Friday. The company has a quick ratio of 1.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average price of $26.42 and a 200-day moving average price of $26.88. ATN International, Inc. has a twelve month low of $13.86 and a twelve month high of $33.41. The stock has a market capitalization of $476.72 million, a price-to-earnings ratio of 3.01, a PEG ratio of 3.99 and a beta of 0.56.
ATN International Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Tuesday, June 30th were given a $0.29 dividend. This is a boost from ATN International's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.16 dividend on an annualized basis and a yield of 3.7%. ATN International's payout ratio is presently 11.28%.
Wall Street Analyst Weigh In
Several brokerages recently commented on ATNI. Wall Street Zen raised ATN International from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Zacks Research raised ATN International from a "strong sell" rating to a "hold" rating in a report on Monday, August 10th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of ATN International in a research report on Friday, August 7th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, ATN International currently has an average rating of "Hold".
Read Our Latest Report on ATNI
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Strs Ohio bought a new position in ATN International in the 1st quarter worth $138,000. Marshall Wace LLP raised 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 valued at $777,000 after acquiring an additional 27,714 shares during the period. Gamco Investors INC. ET AL lifted its position 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 acquiring an additional 10,253 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of ATN International by 7.2% in the second 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 in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of ATN International by 5.6% in the third quarter. Brown Brothers Harriman & Co. now owns 662,544 shares of the technology company's stock worth $9,918,000 after acquiring an additional 35,394 shares during the period. Hedge funds and other institutional investors own 65.50% of the company's stock.
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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