First Mercantile Trust Co. acquired a new position in shares of Atlantic Tele-Network Inc. (NASDAQ:ATNI) during the second quarter, Holdings Channel reports. The firm acquired 1,616 shares of the company’s stock, valued at approximately $126,000.
Other large investors also recently made changes to their positions in the company. UBS Group AG raised its stake in shares of Atlantic Tele-Network by 0.3% in the first quarter. UBS Group AG now owns 17,565 shares of the company’s stock worth $1,331,000 after buying an additional 54 shares during the last quarter. PineBridge Investments L.P. raised its stake in shares of Atlantic Tele-Network by 6.6% in the second quarter. PineBridge Investments L.P. now owns 1,372 shares of the company’s stock worth $107,000 after buying an additional 85 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Atlantic Tele-Network by 9.3% in the first quarter. Royal Bank of Canada now owns 2,841 shares of the company’s stock worth $215,000 after buying an additional 241 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Atlantic Tele-Network by 1.5% in the second quarter. California State Teachers Retirement System now owns 22,117 shares of the company’s stock worth $1,721,000 after buying an additional 327 shares during the last quarter. Finally, Capstone Asset Management Co. raised its stake in shares of Atlantic Tele-Network by 9.6% in the second quarter. Capstone Asset Management Co. now owns 3,897 shares of the company’s stock worth $303,000 after buying an additional 340 shares during the last quarter. Institutional investors own 58.02% of the company’s stock.
Shares of Atlantic Tele-Network Inc. (NASDAQ:ATNI) opened at 65.29 on Friday. The stock has a 50 day moving average of $65.80 and a 200 day moving average of $72.06. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 76.63 and a beta of 0.86. Atlantic Tele-Network Inc. has a 12-month low of $62.70 and a 12-month high of $83.80.
Atlantic Tele-Network (NASDAQ:ATNI) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.59) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.67. Atlantic Tele-Network had a net margin of 3.73% and a return on equity of 2.16%. The business earned $100 million during the quarter, compared to analysts’ expectations of $94.67 million. Analysts forecast that Atlantic Tele-Network Inc. will post $0.85 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, September 30th will be paid a $0.34 dividend. This is a positive change from Atlantic Tele-Network’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.36 annualized dividend and a dividend yield of 2.08%. Atlantic Tele-Network’s dividend payout ratio (DPR) is presently 158.14%.
A number of equities research analysts recently weighed in on the stock. Drexel Hamilton assumed coverage on shares of Atlantic Tele-Network in a report on Wednesday, June 22nd. They set a “buy” rating for the company. Zacks Investment Research lowered shares of Atlantic Tele-Network from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd.
In other news, CEO Michael T. Prior sold 531 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $80.46, for a total value of $42,724.26. Following the completion of the transaction, the chief executive officer now owns 369,778 shares of the company’s stock, valued at $29,752,337.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP William F. Kreisher acquired 1,446 shares of the stock in a transaction dated Wednesday, August 10th. The stock was acquired at an average cost of $67.17 per share, with a total value of $97,127.82. Following the purchase, the vice president now owns 39,572 shares of the company’s stock, valued at approximately $2,658,051.24. The disclosure for this purchase can be found here. 33.60% of the stock is currently owned by insiders.
Atlantic Tele-Network Company Profile
ATN International, Inc, formerly Atlantic Tele-Network, Inc, is a holding company. The Company, through its subsidiaries, provides wireless and wireline telecommunications services in North America, Bermuda and the Caribbean; owns and operates commercial distributed generation solar power systems in the United States, and owns and operates terrestrial and submarine fiber optic transport systems in the United States and the Caribbean, respectively.
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