Key Points
- Major shareholder Cornelius Prior Jr. sold 10,000 ATN International shares for approximately $313,400, reducing his direct holdings by 21.2% to 37,165 shares.
- ATN International’s stock opened at $30.63, near its 52-week high of $33.41, while the company increased its quarterly dividend to $0.29 per share, implying a 3.8% annual yield.
- Institutional ownership stands at 65.5%, with BlackRock and other investors adding stakes; analyst sentiment remains broadly “Hold,” despite some recent rating upgrades.
ATN International, Inc. (NASDAQ:ATNI - Get Free Report) major shareholder Cornelius Prior, Jr. sold 10,000 shares of the business's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $31.34, for a total value of $313,400.00. Following the transaction, the insider directly owned 37,165 shares of the company's stock, valued at approximately $1,164,751.10. The trade was a 21.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 Down 0.3%
Shares of ATN International stock opened at $30.63 on Thursday. The firm has a market capitalization of $471.70 million, a PE ratio of 2.98, a price-to-earnings-growth ratio of 3.94 and a beta of 0.56. The company has a current ratio of 1.63, a quick ratio of 1.59 and a debt-to-equity ratio of 0.68. The firm's 50 day moving average is $26.67 and its 200 day moving average is $27.00. ATN International, Inc. has a 1 year low of $13.86 and a 1 year high of $33.41.
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 paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This is a boost from ATN International's previous quarterly dividend of $0.28. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.8%. ATN International's payout ratio is presently 11.28%.
Analysts Set New Price Targets
Several brokerages have issued reports on ATNI. Zacks Research upgraded ATN International from a "strong sell" rating to a "hold" rating in a report on Monday, August 10th. Weiss Ratings upgraded ATN International from a "hold (c-)" rating to a "hold (c+)" rating in a report on Friday, August 21st. Finally, Wall Street Zen raised shares of ATN International from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, ATN International presently has an average rating of "Hold".
Get Our Latest Research Report on ATN International
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATNI. BlackRock Inc. purchased a new stake in shares of ATN International during the 2nd quarter worth approximately $24,457,000. Brown Brothers Harriman & Co. grew its holdings in 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. Bank of New York Mellon Corp bought a new stake in ATN International in the 2nd quarter valued at about $3,323,000. Empowered Funds LLC purchased a new stake in shares of ATN International during the 2nd quarter valued at approximately $2,481,000. Finally, Gamco Investors INC. ET AL grew its stake in ATN International by 17.1% during 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. 65.50% of the stock is currently owned by hedge funds and other institutional investors.
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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