ATN International, Inc. (NASDAQ:ATNI) Sees Large Drop in Short Interest

ATN International, Inc. (NASDAQ:ATNI) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totaling 100,122 shares, a drop of 19.1% from the December 15th total of 123,834 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily volume of 50,697 shares, the days-to-cover ratio is presently 2.0 days. Based on an average daily volume of 50,697 shares, the days-to-cover ratio is presently 2.0 days. Currently, 0.7% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of ATN International from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Zacks Research raised shares of ATN International from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings upgraded shares of ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.00.

ATN International Price Performance

ATN International stock opened at $22.53 on Monday. ATN International has a 1 year low of $13.76 and a 1 year high of $23.75. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.21 and a current ratio of 1.26. The firm has a 50 day moving average price of $21.53 and a 200 day moving average price of $17.98. The company has a market cap of $343.81 million, a price-to-earnings ratio of -24.23, a PEG ratio of 6.26 and a beta of 0.56.

ATN International (NASDAQ:ATNI) last announced its quarterly earnings results on Thursday, November 6th. The technology company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.24. ATN International had a negative net margin of 1.11% and a positive return on equity of 0.13%. The company had revenue of $183.17 million for the quarter, compared to analyst estimates of $182.40 million. Sell-side analysts predict that ATN International will post -0.73 earnings per share for the current year.

ATN International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Wednesday, December 31st. ATN International’s payout ratio is -118.28%.

Hedge Funds Weigh In On ATN International

Large investors have recently modified their holdings of the company. Strs Ohio purchased a new stake in shares of ATN International during the 1st quarter worth about $138,000. Ameriprise Financial Inc. lifted its position in ATN International by 7.2% during the second quarter. Ameriprise Financial Inc. now owns 35,886 shares of the technology company’s stock valued at $583,000 after buying an additional 2,397 shares in the last quarter. Marshall Wace LLP grew its stake in ATN International by 137.9% during the second quarter. Marshall Wace LLP now owns 47,804 shares of the technology company’s stock worth $777,000 after buying an additional 27,714 shares during the period. Gamco Investors INC. ET AL increased its position in shares of ATN International by 17.1% in the second quarter. Gamco Investors INC. ET AL now owns 70,221 shares of the technology company’s stock worth $1,141,000 after acquiring an additional 10,253 shares in the last quarter. Finally, Gabelli Funds LLC raised its stake in shares of ATN International by 54.7% in the 2nd quarter. Gabelli Funds LLC now owns 193,407 shares of the technology company’s stock valued at $3,143,000 after acquiring an additional 68,407 shares during the period. 65.50% of the stock is currently owned by hedge funds and other institutional investors.

ATN International Company Profile

ATN International, Inc (NASDAQ: ATNI) is a diversified provider of telecommunications services that operates through a combination of wireless, wireline and broadband networks. Headquartered in Beverly, Massachusetts, the company offers a range of voice and data solutions to residential, commercial and wholesale customers. Its core offerings include long-distance voice services, fixed-line telephony, broadband internet access and network infrastructure solutions.

Through its business segments, ATN delivers tailored communications products to underserved markets across the Caribbean, Latin America, parts of the Pacific and select rural regions of the United States.