Atlanticus (NASDAQ:ATLC) Shares Down 5.8% – Here’s Why

Atlanticus Holdings Co. (NASDAQ:ATLC)’s stock price dropped 5.8% on Monday . The stock traded as low as $55.30 and last traded at $56.02. Approximately 49,712 shares changed hands during trading, a decline of 20% from the average daily volume of 62,161 shares. The stock had previously closed at $59.47.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Stephens initiated coverage on Atlanticus in a research report on Wednesday, November 13th. They set an “overweight” rating and a $54.00 price objective on the stock. B. Riley raised shares of Atlanticus to a “strong-buy” rating in a report on Tuesday, January 7th. BTIG Research lifted their price objective on Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, JMP Securities raised their target price on Atlanticus from $54.00 to $75.00 and gave the stock a “market outperform” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Atlanticus has a consensus rating of “Buy” and an average target price of $57.20.

Atlanticus Trading Up 4.3 %

The company’s fifty day moving average price is $58.23 and its two-hundred day moving average price is $44.28. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The company has a market cap of $863.32 million, a price-to-earnings ratio of 13.16 and a beta of 2.10.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings results on Thursday, November 7th. The credit services provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.04. The firm had revenue of $351.22 million during the quarter, compared to analysts’ expectations of $326.64 million. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. Research analysts expect that Atlanticus Holdings Co. will post 4.49 earnings per share for the current year.

Insider Transactions at Atlanticus

In other news, Director Denise M. Harrod sold 1,141 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $49.00, for a total transaction of $55,909.00. Following the transaction, the director now owns 5,659 shares of the company’s stock, valued at $277,291. This represents a 16.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mitchell Saunders sold 16,004 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $55.55, for a total value of $889,022.20. Following the sale, the chief accounting officer now directly owns 50,973 shares of the company’s stock, valued at $2,831,550.15. This represents a 23.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,504 shares of company stock worth $962,522. Corporate insiders own 51.80% of the company’s stock.

Hedge Funds Weigh In On Atlanticus

Several large investors have recently bought and sold shares of the business. Rhumbline Advisers raised its position in shares of Atlanticus by 3.2% during the 4th quarter. Rhumbline Advisers now owns 8,128 shares of the credit services provider’s stock valued at $453,000 after acquiring an additional 255 shares during the last quarter. Squarepoint Ops LLC increased its holdings in Atlanticus by 9.3% in the second quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock valued at $234,000 after purchasing an additional 704 shares during the last quarter. Empowered Funds LLC lifted its stake in Atlanticus by 5.0% in the third quarter. Empowered Funds LLC now owns 16,978 shares of the credit services provider’s stock valued at $596,000 after buying an additional 804 shares during the period. New York State Common Retirement Fund boosted its holdings in Atlanticus by 19.2% during the fourth quarter. New York State Common Retirement Fund now owns 7,454 shares of the credit services provider’s stock worth $416,000 after buying an additional 1,200 shares during the last quarter. Finally, FMR LLC grew its position in shares of Atlanticus by 393.1% during the 3rd quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock worth $80,000 after buying an additional 1,820 shares during the period. 14.15% of the stock is currently owned by institutional investors and hedge funds.

Atlanticus Company Profile

Atlanticus Holdings Corporation, a financial technology company, provides credit and related financial services and products to customers the United States. It operates in two segments, Credit as a Service, and Auto Finance. The Credit as a Service segment originates a range of consumer loan products, such as private label and general purpose credit cards originated by lenders through various channels, including retail and healthcare, direct mail solicitation, digital marketing, and partnerships with third parties; and offers credit to their customers for the purchase of various goods and services, including consumer electronics, furniture, elective medical procedures, healthcare, and home-improvements by partnering with retailers, healthcare providers, and other service providers.