Atlanticus (NASDAQ:ATLC) Shares Down 6.2% – Here’s What Happened

Atlanticus Holdings Corporation (NASDAQ:ATLC)’s stock price was down 6.2% during trading on Monday . The stock traded as low as $48.74 and last traded at $50.67. Approximately 21,644 shares traded hands during trading, a decline of 65% from the average daily volume of 61,251 shares. The stock had previously closed at $54.01.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ATLC shares. Weiss Ratings reissued a “hold (c)” rating on shares of Atlanticus in a research note on Wednesday, October 8th. B. Riley boosted their target price on shares of Atlanticus from $70.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Citigroup reissued an “outperform” rating on shares of Atlanticus in a research report on Thursday, September 18th. JMP Securities lifted their price objective on Atlanticus from $78.00 to $95.00 and gave the company a “market outperform” rating in a research report on Thursday, September 18th. Finally, BTIG Research reissued a “buy” rating and set a $105.00 target price on shares of Atlanticus in a research report on Monday, October 27th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.80.

Atlanticus Stock Down 5.7%

The firm has a market cap of $770.03 million, a price-to-earnings ratio of 8.96 and a beta of 2.14. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.38 and a current ratio of 1.38. The business’s 50-day moving average is $61.48 and its 200-day moving average is $56.86.

Atlanticus (NASDAQ:ATLC) last released its earnings results on Thursday, November 6th. The credit services provider reported $1.48 EPS for the quarter, beating the consensus estimate of $1.34 by $0.14. Atlanticus had a return on equity of 24.20% and a net margin of 8.51%. On average, equities analysts predict that Atlanticus Holdings Corporation will post 4.49 EPS for the current year.

Atlanticus Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were paid a dividend of $0.4766 per share. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.7%.

Insider Activity at Atlanticus

In related news, Director Deal W. Hudson sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $62.39, for a total value of $124,780.00. Following the completion of the sale, the director directly owned 61,092 shares in the company, valued at $3,811,529.88. The trade was a 3.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 50.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Atlanticus

Several institutional investors have recently added to or reduced their stakes in ATLC. New York State Teachers Retirement System boosted its holdings in Atlanticus by 151.5% during the second quarter. New York State Teachers Retirement System now owns 503 shares of the credit services provider’s stock worth $28,000 after purchasing an additional 303 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in Atlanticus during the 3rd quarter valued at about $38,000. KLP Kapitalforvaltning AS bought a new stake in shares of Atlanticus during the first quarter valued at approximately $56,000. Jones Financial Companies Lllp purchased a new stake in Atlanticus during the 1st quarter valued at about $71,000. Finally, US Bancorp DE bought a new position in Atlanticus in the 1st quarter valued at approximately $74,000. 14.15% of the stock is owned by institutional investors and hedge funds.

About Atlanticus

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.