Arizona State Retirement System trimmed its position in ATN International Inc (NASDAQ:ATNI) by 7.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,870 shares of the technology company’s stock after selling 1,334 shares during the period. Arizona State Retirement System owned approximately 0.10% of ATN International worth $837,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Eagle Boston Investment Management Inc. boosted its stake in shares of ATN International by 62.7% in the 2nd quarter. Eagle Boston Investment Management Inc. now owns 62,097 shares of the technology company’s stock worth $3,276,000 after buying an additional 23,927 shares during the last quarter. SG Americas Securities LLC lifted its stake in ATN International by 10.9% in the second quarter. SG Americas Securities LLC now owns 31,549 shares of the technology company’s stock valued at $1,665,000 after purchasing an additional 3,090 shares during the last quarter. Alps Advisors Inc. purchased a new position in ATN International in the second quarter valued at approximately $475,000. Piedmont Investment Advisors LLC purchased a new position in ATN International in the second quarter valued at approximately $133,000. Finally, Third Avenue Management LLC purchased a new position in ATN International in the second quarter valued at approximately $6,072,000. 65.91% of the stock is owned by institutional investors and hedge funds.
In other news, insider Michael T. Prior sold 1,000 shares of the stock in a transaction dated Monday, July 9th. The shares were sold at an average price of $56.10, for a total transaction of $56,100.00. Following the completion of the sale, the insider now directly owns 402,624 shares in the company, valued at $22,587,206.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael T. Prior sold 5,000 shares of the stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $64.83, for a total transaction of $324,150.00. Following the sale, the insider now owns 398,624 shares of the company’s stock, valued at $25,842,793.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,000 shares of company stock valued at $525,630. Company insiders own 32.80% of the company’s stock.
Several equities analysts recently commented on ATNI shares. ValuEngine upgraded ATN International from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. BidaskClub raised shares of ATN International from a “hold” rating to a “buy” rating in a report on Tuesday, July 10th. Zacks Investment Research raised shares of ATN International from a “sell” rating to a “hold” rating in a report on Wednesday, June 27th. Finally, Raymond James cut shares of ATN International from an “outperform” rating to a “market perform” rating and set a $69.00 price target on the stock. in a report on Friday, July 27th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $61.33.
ATNI traded up $0.21 during trading on Friday, reaching $71.98. The stock had a trading volume of 62,441 shares, compared to its average volume of 72,685. The stock has a market cap of $1.18 billion, a PE ratio of 33.02 and a beta of 0.58. The company has a quick ratio of 1.63, a current ratio of 1.68 and a debt-to-equity ratio of 0.17. ATN International Inc has a one year low of $49.34 and a one year high of $75.94.
ATN International (NASDAQ:ATNI) last released its earnings results on Wednesday, July 25th. The technology company reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.65. The business had revenue of $117.79 million for the quarter, compared to analysts’ expectations of $106.01 million. ATN International had a return on equity of 3.10% and a net margin of 4.51%. As a group, equities analysts anticipate that ATN International Inc will post -0.1 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 8th. Shareholders of record on Sunday, September 30th will be given a dividend of $0.17 per share. The ex-dividend date is Thursday, September 27th. This represents a $0.68 annualized dividend and a yield of 0.94%. ATN International’s payout ratio is 31.19%.
ATN International Company Profile
ATN International, Inc, through its subsidiaries, provides wireless and wireline telecommunications services in North America, Bermuda, and the Caribbean. It operates through U.S. Telecom, International Telecom, and Renewable Energy segments. The company offers wholesale wireless voice and data roaming services; wireline local telephone and data, video, and long-distance voice services; and facilities-based integrated voice and data communications, and wholesale transport services to enterprise and residential customers.
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