ATN International (NASDAQ:ATNI) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of ATN International (NASDAQ:ATNI) from a buy rating to a hold rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “ATN International, Inc. invests, own and operate communications companies and renewable energy assets. The company through its operating subsidiaries provide wireless and wireline connectivity to residential and business customers including mobile wireless solutions, local exchange services and broadband internet services; distributed solar electric power to corporate, utility and municipal customers and owner and operator of terrestrial and submarine fiber optic transport systems primarily in the United States and the Caribbean. ATN International Inc., formerly known as Atlantic Tele-Network, Inc., is based in Beverly, United States. “

A number of other brokerages also recently issued reports on ATNI. TheStreet downgraded shares of ATN International from a c rating to a d+ rating in a report on Wednesday, October 23rd. BWS Financial increased their price target on shares of ATN International from $65.00 to $85.00 and gave the stock a buy rating in a report on Friday, October 25th. Raymond James reissued a buy rating and set a $67.00 price target on shares of ATN International in a report on Friday, October 25th. Finally, BidaskClub raised shares of ATN International from a sell rating to a hold rating in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $71.50.

Shares of NASDAQ ATNI opened at $62.18 on Wednesday. The company’s fifty day moving average price is $57.96 and its 200 day moving average price is $57.19. ATN International has a 1 year low of $50.48 and a 1 year high of $65.64. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.91 and a quick ratio of 1.79.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. purchased a new position in ATN International during the fourth quarter valued at $25,000. Marshall Wace North America L.P. purchased a new position in ATN International during the first quarter valued at $55,000. UBS Asset Management Americas Inc. lifted its holdings in ATN International by 38.1% during the fourth quarter. UBS Asset Management Americas Inc. now owns 5,656 shares of the technology company’s stock valued at $313,000 after purchasing an additional 1,559 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in ATN International by 91.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,500 shares of the technology company’s stock valued at $360,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Alambic Investment Management L.P. purchased a new position in ATN International during the fourth quarter valued at $427,000. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

ATN International Company Profile

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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