ATN International (ATNI) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of ATN International (NASDAQ:ATNI) from a sell rating to a hold rating in a report released on Tuesday morning.

Several other research analysts also recently issued reports on ATNI. Zacks Investment Research raised ATN International from a sell rating to a hold rating in a report on Wednesday, June 27th. ValuEngine raised ATN International from a sell rating to a hold rating in a report on Thursday, July 26th. Finally, Raymond James downgraded ATN International from an outperform rating to a market perform rating and set a $69.00 price objective on the stock. in a report on Friday, July 27th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $66.25.

NASDAQ:ATNI opened at $71.10 on Tuesday. ATN International has a 52-week low of $49.34 and a 52-week high of $75.94. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.63 and a current ratio of 1.68. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 32.33 and a beta of 0.58.

ATN International (NASDAQ:ATNI) last posted its quarterly earnings data on Wednesday, July 25th. The technology company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.65. ATN International had a return on equity of 3.10% and a net margin of 4.51%. The firm had revenue of $117.79 million for the quarter, compared to the consensus estimate of $106.01 million. On average, analysts expect that ATN International will post -0.1 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 8th. Stockholders of record on Sunday, September 30th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Thursday, September 27th. ATN International’s dividend payout ratio (DPR) is currently 31.19%.

In other news, insider Michael T. Prior sold 2,000 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $72.69, for a total value of $145,380.00. Following the transaction, the insider now owns 397,624 shares of the company’s stock, valued at approximately $28,903,288.56. 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 on Monday, August 6th. The shares were sold at an average price of $64.83, for a total value of $324,150.00. Following the completion of the transaction, the insider now directly owns 398,624 shares in the company, valued at approximately $25,842,793.92. The disclosure for this sale can be found here. Corporate insiders own 32.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Third Avenue Management LLC acquired a new position in shares of ATN International in the 2nd quarter valued at $6,072,000. Eagle Boston Investment Management Inc. lifted 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 valued at $3,276,000 after purchasing an additional 23,927 shares during the period. SG Americas Securities LLC lifted its stake in shares of ATN International by 10.9% in the 2nd 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 period. Alps Advisors Inc. acquired a new position in shares of ATN International in the 2nd quarter valued at $475,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of ATN International in the 2nd quarter valued at $133,000. 65.91% of the stock is currently owned by institutional investors.

About ATN International

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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