ATN International (ATNI) Rating Increased to Buy at Sidoti

ATN International (NASDAQ:ATNI) was upgraded by equities researchers at Sidoti from a “neutral” rating to a “buy” rating in a report issued on Monday, Marketbeat reports. The firm currently has a $70.00 target price on the technology company’s stock. Sidoti’s price objective suggests a potential upside of 14.19% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. BidaskClub lowered shares of ATN International from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th. TheStreet lowered shares of ATN International from a “c” rating to a “d+” rating in a research report on Tuesday, October 31st. Finally, Zacks Investment Research raised shares of ATN International from a “sell” rating to a “hold” rating in a research report on Wednesday, September 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $63.50.

ATN International (NASDAQ ATNI) traded down $0.61 during trading on Monday, reaching $61.30. 151,800 shares of the company’s stock were exchanged, compared to its average volume of 135,750. The firm has a market cap of $981.82, a price-to-earnings ratio of -97.30 and a beta of 0.61. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.84 and a current ratio of 1.93. ATN International has a 52-week low of $49.50 and a 52-week high of $82.59.

ATN International (NASDAQ:ATNI) last released its earnings results on Monday, October 30th. The technology company reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.18. The firm had revenue of $122.13 million during the quarter, compared to analyst estimates of $123.92 million. ATN International had a negative net margin of 1.93% and a positive return on equity of 3.34%. analysts forecast that ATN International will post -0.93 earnings per share for the current year.

In other news, CFO Justin D. Benincasa sold 4,179 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $59.72, for a total transaction of $249,569.88. Following the completion of the transaction, the chief financial officer now owns 59,526 shares of the company’s stock, valued at $3,554,892.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael T. Prior sold 7,355 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $55.36, for a total transaction of $407,172.80. Following the transaction, the insider now directly owns 387,247 shares of the company’s stock, valued at approximately $21,437,993.92. The disclosure for this sale can be found here. Insiders have sold 13,534 shares of company stock valued at $765,963 in the last ninety days. 32.70% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ameriprise Financial Inc. raised its position in shares of ATN International by 5.7% during the third quarter. Ameriprise Financial Inc. now owns 82,729 shares of the technology company’s stock valued at $4,360,000 after buying an additional 4,461 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in ATN International by 44.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 5,320 shares of the technology company’s stock valued at $281,000 after acquiring an additional 1,640 shares during the period. Alps Advisors Inc. bought a new stake in ATN International in the third quarter valued at about $453,000. River Road Asset Management LLC increased its stake in ATN International by 16.8% in the third quarter. River Road Asset Management LLC now owns 335,542 shares of the technology company’s stock valued at $17,683,000 after acquiring an additional 48,330 shares during the period. Finally, Dean Capital Management increased its stake in ATN International by 39.6% in the second quarter. Dean Capital Management now owns 40,705 shares of the technology company’s stock valued at $2,786,000 after acquiring an additional 11,545 shares during the period. 58.37% of the stock is owned by institutional investors and hedge funds.

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ATN International Company Profile

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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