ATN International (ATNI) Downgraded by BidaskClub to Strong Sell

BidaskClub cut shares of ATN International (NASDAQ:ATNI) from a sell rating to a strong sell rating in a report released on Friday.

A number of other equities research analysts have also weighed in on ATNI. ValuEngine upgraded ATN International from a buy rating to a strong-buy rating in a research note on Wednesday, October 24th. Maxim Group initiated coverage on ATN International in a research note on Monday, December 3rd. They set a hold rating and a $82.02 price objective for the company. Finally, Zacks Investment Research lowered ATN International from a strong-buy rating to a hold rating in a research note on Thursday, December 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $69.26.

Shares of NASDAQ ATNI opened at $72.00 on Friday. ATN International has a fifty-two week low of $49.34 and a fifty-two week high of $88.78. The company has a quick ratio of 1.59, a current ratio of 1.62 and a debt-to-equity ratio of 0.11. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 33.03 and a beta of 0.53.

In other ATN International news, CFO Justin D. Benincasa sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 11th. The stock was sold at an average price of $77.13, for a total transaction of $385,650.00. Following the transaction, the chief financial officer now owns 60,507 shares of the company’s stock, valued at approximately $4,666,904.91. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Justin D. Benincasa sold 3,000 shares of the stock in a transaction that occurred on Friday, January 11th. The stock was sold at an average price of $76.40, for a total value of $229,200.00. Following the transaction, the chief financial officer now directly owns 56,466 shares in the company, valued at approximately $4,314,002.40. The disclosure for this sale can be found here. Company insiders own 32.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in ATNI. Acadian Asset Management LLC lifted its holdings in ATN International by 886.1% during the 4th quarter. Acadian Asset Management LLC now owns 42,718 shares of the technology company’s stock worth $3,057,000 after buying an additional 38,386 shares during the last quarter. Eagle Boston Investment Management Inc. lifted its holdings in ATN International by 41.0% during the 3rd quarter. Eagle Boston Investment Management Inc. now owns 87,528 shares of the technology company’s stock worth $6,466,000 after buying an additional 25,431 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in ATN International by 4.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 320,376 shares of the technology company’s stock worth $23,669,000 after buying an additional 12,982 shares during the last quarter. Rhumbline Advisers lifted its holdings in ATN International by 17.6% during the 4th quarter. Rhumbline Advisers now owns 36,049 shares of the technology company’s stock worth $2,579,000 after buying an additional 5,405 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new position in ATN International during the 4th quarter worth approximately $295,000. 67.66% 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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