BidaskClub Lowers ATN International (NASDAQ:ATNI) to Strong Sell

BidaskClub cut shares of ATN International (NASDAQ:ATNI) from a sell rating to a strong sell rating in a research report released on Wednesday, March 14th.

Other analysts also recently issued reports about the stock. Sidoti raised shares of ATN International from a neutral rating to a buy rating and set a $70.00 price target on the stock in a report on Monday, January 8th. TheStreet raised shares of ATN International from a d+ rating to a c- rating in a report on Monday, January 8th. Finally, ValuEngine downgraded shares of ATN International from a hold rating to a sell rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $63.50.

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Shares of NASDAQ:ATNI traded up $0.30 during midday trading on Wednesday, reaching $60.73. The company’s stock had a trading volume of 54,010 shares, compared to its average volume of 107,211. ATN International has a twelve month low of $49.50 and a twelve month high of $73.99. The firm has a market capitalization of $968.58, a P/E ratio of 27.86 and a beta of 0.48. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.12 and a quick ratio of 2.03.

ATN International (NASDAQ:ATNI) last announced its quarterly earnings results on Wednesday, February 21st. The technology company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.87. ATN International had a net margin of 6.54% and a return on equity of 4.38%. The firm had revenue of $107.70 million for the quarter, compared to the consensus estimate of $102.81 million. equities analysts anticipate that ATN International will post -0.09 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 6th. Stockholders of record on Saturday, March 31st were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Wednesday, March 28th. ATN International’s dividend payout ratio (DPR) is 31.19%.

In related news, SVP Leonard Q. Slap sold 1,413 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $61.89, for a total transaction of $87,450.57. Following the completion of the sale, the senior vice president now directly owns 27,968 shares in the company, valued at $1,730,939.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Justin D. Benincasa sold 6,106 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $59.01, for a total transaction of $360,315.06. Following the sale, the chief financial officer now owns 57,396 shares of the company’s stock, valued at $3,386,937.96. The disclosure for this sale can be found here. Insiders sold 17,179 shares of company stock valued at $1,031,563 over the last quarter. Company insiders own 32.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC acquired a new stake in ATN International during the fourth quarter worth about $263,000. Municipal Employees Retirement System of Michigan increased its position in shares of ATN International by 35.5% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 7,210 shares of the technology company’s stock valued at $398,000 after acquiring an additional 1,890 shares during the last quarter. Rhumbline Advisers increased its position in shares of ATN International by 7.9% during the fourth quarter. Rhumbline Advisers now owns 31,217 shares of the technology company’s stock valued at $1,725,000 after acquiring an additional 2,296 shares during the last quarter. Arizona State Retirement System increased its position in shares of ATN International by 218.2% during the fourth quarter. Arizona State Retirement System now owns 18,304 shares of the technology company’s stock valued at $1,011,000 after acquiring an additional 12,551 shares during the last quarter. Finally, River Road Asset Management LLC increased its position in shares of ATN International by 6.1% during the fourth quarter. River Road Asset Management LLC now owns 356,112 shares of the technology company’s stock valued at $19,679,000 after acquiring an additional 20,570 shares during the last quarter. Hedge funds and other institutional investors own 62.47% of the company’s stock.

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About ATN International

ATN International, Inc (ATN), formerly Atlantic Tele-Network, Inc, is a holding company. The Company’s segments include U.S. Telecom, International Telecom and Renewable Energy. In the United States, it provides wholesale wireless voice and data roaming services in rural markets to national, regional, local and selected international wireless carriers.

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