Atlanticus (NASDAQ:ATLC) Shares Down 7.3% After Analyst Downgrade

Atlanticus Holdings Corporation (NASDAQ:ATLC)’s stock price fell 7.3% during trading on Monday after Wall Street Zen downgraded the stock from a strong-buy rating to a buy rating. The company traded as low as $84.16 and last traded at $84.57. 76,181 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 111,490 shares. The stock had previously closed at $91.23.

Several other research firms have also recently issued reports on ATLC. Citigroup reiterated an “outperform” rating on shares of Atlanticus in a research report on Thursday, July 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Atlanticus in a report on Tuesday, September 8th. Zacks Research cut Atlanticus from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. BTIG Research decreased their price target on Atlanticus from $179.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Atlanticus in a report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.86.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Atlanticus in the second quarter valued at about $43,535,000. Bank of New York Mellon Corp acquired a new stake in shares of Atlanticus during the 2nd quarter valued at approximately $2,281,000. Susquehanna International Group LLP acquired a new stake in shares of Atlanticus during the 2nd quarter valued at approximately $1,500,000. Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of Atlanticus during the 2nd quarter worth approximately $9,161,293. Finally, Denali Advisors LLC purchased a new stake in shares of Atlanticus during the 2nd quarter worth approximately $2,032,000. 14.15% of the stock is currently owned by institutional investors and hedge funds.

Atlanticus Price Performance

The firm has a market cap of $1.28 billion, a PE ratio of 7.45 and a beta of 1.80. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.99. The company has a 50 day moving average price of $92.28 and a 200 day moving average price of $81.10.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings data on Thursday, November 5th. The credit services provider reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.01. The firm had revenue of $775.85 million during the quarter, compared to the consensus estimate of $775.08 million. Atlanticus had a return on equity of 29.05% and a net margin of 7.65%. On average, sell-side analysts expect that Atlanticus Holdings Corporation will post 9.73 EPS for the current year.

About Atlanticus

Atlanticus Holdings Corporation is a financial technology and services company that provides credit and related financial products to consumers, primarily in the United States. Through its subsidiaries, the company focuses on serving consumers who may have limited access to traditional forms of credit.

Atlanticus operates businesses offering private-label and general-purpose credit products, including credit cards and installment loans. Its offerings are distributed through direct-to-consumer channels and partnerships with merchants, giving consumers access to financing for purchases and other personal needs.

The company also operates an auto finance business that provides vehicle-related lending solutions.