ValuEngine Upgrades Atlanticus (NASDAQ:ATLC) to “Sell”

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ValuEngine upgraded shares of Atlanticus (NASDAQ:ATLC) from a strong sell rating to a sell rating in a research report released on Friday, ValuEngine reports.

Atlanticus stock opened at $7.53 on Friday. Atlanticus has a 12-month low of $3.03 and a 12-month high of $10.08. The stock has a market cap of $126.17 million, a P/E ratio of 2.47 and a beta of -0.17. The company has a 50-day moving average price of $7.73 and a 200 day moving average price of $6.05. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 21.12.

In related news, Director Mack F. Mattingly sold 75,500 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $10.00, for a total transaction of $755,000.00. Following the completion of the sale, the director now directly owns 60,500 shares in the company, valued at $605,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 34.70% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Synovus Financial Corp purchased a new position in Atlanticus during the third quarter worth about $145,000. Zazove Associates LLC purchased a new position in Atlanticus during the second quarter worth about $580,000. Finally, BlackRock Inc. boosted its stake in Atlanticus by 0.9% during the second quarter. BlackRock Inc. now owns 539,081 shares of the credit services provider’s stock worth $2,183,000 after buying an additional 4,810 shares during the period. 15.47% of the stock is owned by institutional investors.

About Atlanticus

Atlanticus Holdings Corporation provides credit and related financial services and products to financially underserved consumer credit market in the United States. It operates in two segments, Credit and Other Investments, and Auto Finance. The Credit and Other Investments segment originates a range of consumer loan products, such as retail credit, personal loans, and credit cards through various channels, including retail point-of-sale, direct mail solicitation, Internet-based marketing, and partnerships with third parties; and offers point-of-sale financing by partnering with retailers and service providers to provide credit to their customers for the purchase of various goods and services.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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