ATN International Inc (NASDAQ:ATNI) was the target of a large decline in short interest in the month of November. As of November 29th, there was short interest totalling 173,100 shares, a decline of 8.7% from the November 14th total of 189,600 shares. Based on an average daily volume of 52,200 shares, the days-to-cover ratio is presently 3.3 days. Approximately 1.6% of the shares of the company are short sold.
A number of research firms recently issued reports on ATNI. BWS Financial boosted their price objective on ATN International from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, October 25th. TheStreet downgraded ATN International from a “c” rating to a “d+” rating in a research note on Wednesday, October 23rd. ValuEngine raised ATN International from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. BidaskClub downgraded ATN International from a “sell” rating to a “strong sell” rating in a research note on Saturday, November 16th. Finally, Raymond James reaffirmed a “buy” rating and set a $67.00 target price on shares of ATN International in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $71.50.
ATN International stock traded up $1.30 during mid-day trading on Friday, hitting $57.23. 54,420 shares of the company’s stock traded hands, compared to its average volume of 47,238. The firm has a 50 day moving average price of $56.86 and a 200 day moving average price of $57.66. The company has a quick ratio of 1.79, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. The company has a market cap of $915.68 million, a PE ratio of 44.36 and a beta of 0.30. ATN International has a one year low of $50.48 and a one year high of $79.52.
In related news, CEO Michael T. Prior sold 3,333 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $58.78, for a total transaction of $195,913.74. Following the completion of the transaction, the chief executive officer now owns 431,431 shares in the company, valued at approximately $25,359,514.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William F. Kreisher sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $61.18, for a total value of $122,360.00. Following the transaction, the vice president now owns 54,442 shares of the company’s stock, valued at approximately $3,330,761.56. The disclosure for this sale can be found here. Insiders have sold a total of 7,333 shares of company stock valued at $440,274 in the last 90 days. Insiders own 4.34% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ATNI. Acadian Asset Management LLC raised its stake in ATN International by 11.3% during the 2nd quarter. Acadian Asset Management LLC now owns 85,230 shares of the technology company’s stock valued at $4,919,000 after acquiring an additional 8,651 shares in the last quarter. Russell Investments Group Ltd. raised its stake in ATN International by 92.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 12,973 shares of the technology company’s stock valued at $746,000 after acquiring an additional 6,225 shares in the last quarter. Rhumbline Advisers raised its stake in ATN International by 5.1% during the 3rd quarter. Rhumbline Advisers now owns 36,105 shares of the technology company’s stock valued at $2,107,000 after acquiring an additional 1,737 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in ATN International by 50.0% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 4,770 shares of the technology company’s stock valued at $275,000 after acquiring an additional 1,590 shares in the last quarter. Finally, Sun Life Financial INC raised its stake in shares of ATN International by 144.0% in the 2nd quarter. Sun Life Financial INC now owns 2,450 shares of the technology company’s stock worth $141,000 after buying an additional 1,446 shares in the last quarter. 63.73% of the stock is currently owned by hedge funds and other institutional investors.
About ATN International
ATN International, Inc, through its subsidiaries, provides wireless and wireline telecommunications services in North America, India, Bermuda, and the Caribbean. It operates through three segments: U.S. Telecom, International Telecom, and Renewable Energy. The U.S. Telecom segment offers wireless and wireline services; wholesale wireless voice and data roaming services to wireless carriers principally in the Southwest and Midwest the United States; and retail wireless, wireline, and wholesale long-distance voice services to telecommunications carriers.
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