ATN International (NASDAQ:ATNI) Cut to “Sell” at BidaskClub

BidaskClub downgraded shares of ATN International (NASDAQ:ATNI) from a hold rating to a sell rating in a research note published on Wednesday, BidAskClub reports.

Several other equities research analysts also recently weighed in on the stock. National Securities downgraded shares of ATN International from a buy rating to a neutral rating and set a $64.00 target price for the company. in a research note on Friday, April 24th. Zacks Investment Research downgraded shares of ATN International from a buy rating to a hold rating in a research note on Monday, July 20th. Finally, Raymond James downgraded shares of ATN International from an outperform rating to a market perform rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $70.50.

Shares of ATNI opened at $57.63 on Wednesday. The company has a market cap of $920.93 million, a price-to-earnings ratio of -205.81 and a beta of 0.17. ATN International has a twelve month low of $37.01 and a twelve month high of $79.64. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.17. The company has a 50 day moving average of $58.97 and a two-hundred day moving average of $58.58.

ATN International (NASDAQ:ATNI) last announced its earnings results on Wednesday, July 29th. The technology company reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.14. The company had revenue of $109.10 million during the quarter, compared to the consensus estimate of $108.94 million. ATN International had a negative net margin of 1.04% and a positive return on equity of 0.52%. On average, sell-side analysts expect that ATN International will post -0.12 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $0.68 annualized dividend and a dividend yield of 1.18%. ATN International’s payout ratio is currently -618.18%.

In related news, VP William F. Kreisher sold 500 shares of the firm’s stock in a transaction on Wednesday, July 15th. The shares were sold at an average price of $62.55, for a total transaction of $31,275.00. Following the completion of the transaction, the vice president now owns 52,832 shares of the company’s stock, valued at $3,304,641.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael T. Prior sold 2,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $60.43, for a total transaction of $120,860.00. Following the transaction, the chief executive officer now directly owns 442,050 shares of the company’s stock, valued at approximately $26,713,081.50. The disclosure for this sale can be found here. Insiders have sold 4,500 shares of company stock valued at $277,115 over the last quarter. Insiders own 4.34% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Portland Global Advisors LLC raised its holdings in shares of ATN International by 12.7% during the second quarter. Portland Global Advisors LLC now owns 4,420 shares of the technology company’s stock worth $268,000 after purchasing an additional 499 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of ATN International by 9.1% during the second quarter. SG Americas Securities LLC now owns 36,630 shares of the technology company’s stock worth $2,219,000 after purchasing an additional 3,056 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of ATN International by 5.7% during the first quarter. Geode Capital Management LLC now owns 167,713 shares of the technology company’s stock worth $9,846,000 after purchasing an additional 9,063 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of ATN International by 22.8% during the first quarter. Parametric Portfolio Associates LLC now owns 48,170 shares of the technology company’s stock worth $2,828,000 after purchasing an additional 8,943 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its holdings in ATN International by 14.1% in the first quarter. BNP Paribas Arbitrage SA now owns 4,627 shares of the technology company’s stock valued at $272,000 after buying an additional 571 shares in the last quarter. 64.18% of the stock is 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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