ATN International (NASDAQ:ATNI) Shares Pass Above 200-Day Moving Average – Here’s Why

Shares of ATN International, Inc. (NASDAQ:ATNI) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $21.81 and traded as high as $22.90. ATN International shares last traded at $22.39, with a volume of 50,427 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ATNI. StockNews.com raised shares of ATN International from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Raymond James set a $22.00 target price on shares of ATN International in a research note on Thursday, March 6th.

ATN International Trading Up 4.1 %

The company has a fifty day simple moving average of $17.54 and a 200-day simple moving average of $21.81. The company has a current ratio of 1.21, a quick ratio of 1.15 and a debt-to-equity ratio of 0.95. The stock has a market cap of $344.45 million, a price-to-earnings ratio of -8.38 and a beta of 0.60.

ATN International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 31st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.21%. ATN International’s payout ratio is currently -45.28%.

Institutional Investors Weigh In On ATN International

Several hedge funds have recently modified their holdings of ATNI. BNP Paribas Financial Markets raised its stake in ATN International by 758.3% during the third quarter. BNP Paribas Financial Markets now owns 71,307 shares of the technology company’s stock worth $2,306,000 after acquiring an additional 62,999 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in ATN International in the third quarter valued at about $1,789,000. Public Employees Retirement System of Ohio boosted its holdings in ATN International by 43.7% in the third quarter. Public Employees Retirement System of Ohio now owns 14,652 shares of the technology company’s stock valued at $474,000 after acquiring an additional 4,457 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in ATN International by 3.5% in the third quarter. Brown Brothers Harriman & Co. now owns 627,150 shares of the technology company’s stock valued at $20,282,000 after acquiring an additional 21,347 shares during the last quarter. Finally, Tudor Investment Corp ET AL boosted its holdings in ATN International by 51.2% during the fourth quarter. Tudor Investment Corp ET AL now owns 42,360 shares of the technology company’s stock worth $712,000 after buying an additional 14,344 shares during the last quarter. 65.50% of the stock is owned by institutional investors.

ATN International Company Profile

ATN International, Inc, through its subsidiaries, engages in the provision of digital infrastructure and communications services to residential, business, and government customers in the United States and internationally. The company operates through International Telecom and US Telecom segments. The company offers mobile, data, voice, broadband, and fixed services; handsets and accessories; and wholesale roaming, long distance voice services, and site maintenance services.