Atlanticus (NASDAQ:ATLC) Trading Down 6.3% – Here’s What Happened

Shares of Atlanticus Holdings Co. (NASDAQ:ATLC) dropped 6.3% on Friday . The company traded as low as $52.45 and last traded at $52.45. Approximately 7,216 shares traded hands during trading, a decline of 85% from the average daily volume of 47,980 shares. The stock had previously closed at $55.98.

Analyst Upgrades and Downgrades

ATLC has been the subject of a number of recent analyst reports. Stephens assumed coverage on Atlanticus in a report on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 target price for the company. B. Riley upgraded shares of Atlanticus to a “strong-buy” rating in a research note on Tuesday, January 7th. BTIG Research upped their target price on shares of Atlanticus from $45.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, JMP Securities increased their target price on shares of Atlanticus from $54.00 to $75.00 and gave the company a “market outperform” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $57.20.

Atlanticus Stock Performance

The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $788.39 million, a price-to-earnings ratio of 12.02 and a beta of 2.05. The stock’s 50 day moving average is $54.70 and its 200 day moving average is $41.00.

Atlanticus (NASDAQ:ATLC) last issued its quarterly earnings data on Thursday, November 7th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.04. The firm had revenue of $351.22 million during the quarter, compared to the consensus estimate of $326.64 million. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. On average, analysts predict that Atlanticus Holdings Co. will post 4.47 earnings per share for the current year.

Insider Activity at Atlanticus

In other Atlanticus news, Director Denise M. Harrod sold 1,141 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $49.00, for a total value of $55,909.00. Following the sale, the director now directly owns 5,659 shares of the company’s stock, valued at approximately $277,291. This trade represents a 16.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mitchell Saunders sold 16,004 shares of Atlanticus stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $55.55, for a total value of $889,022.20. Following the completion of the sale, the chief accounting officer now owns 50,973 shares of the company’s stock, valued at $2,831,550.15. This trade represents a 23.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,504 shares of company stock valued at $962,522 over the last quarter. Insiders own 51.80% of the company’s stock.

Institutional Investors Weigh In On Atlanticus

A number of institutional investors have recently bought and sold shares of ATLC. Wellington Management Group LLP acquired a new position in shares of Atlanticus in the 3rd quarter valued at $1,654,000. Jane Street Group LLC purchased a new stake in Atlanticus during the third quarter valued at about $313,000. Geode Capital Management LLC increased its stake in Atlanticus by 2.0% during the third quarter. Geode Capital Management LLC now owns 122,501 shares of the credit services provider’s stock worth $4,298,000 after acquiring an additional 2,348 shares during the last quarter. State Street Corp raised its holdings in shares of Atlanticus by 2.4% in the 3rd quarter. State Street Corp now owns 93,431 shares of the credit services provider’s stock worth $3,278,000 after purchasing an additional 2,212 shares during the period. Finally, Barclays PLC lifted its stake in shares of Atlanticus by 285.6% in the 3rd quarter. Barclays PLC now owns 8,218 shares of the credit services provider’s stock valued at $289,000 after purchasing an additional 6,087 shares in the last quarter. 14.15% of the stock is currently owned by hedge funds and other institutional investors.

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.