Atlanticus (NASDAQ:ATLC) Stock Price Down 5.8% – Here’s What Happened

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ATLC shares. B. Riley upgraded shares of Atlanticus to a “strong-buy” rating in a research report on Tuesday, January 7th. JMP Securities upped their target price on Atlanticus from $54.00 to $75.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 3rd. Stephens initiated coverage on shares of Atlanticus in a report on Wednesday, November 13th. They set an “overweight” rating and a $54.00 price objective on the stock. Finally, BTIG Research boosted their target price on shares of Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One research 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $57.20.

Atlanticus Stock Down 5.8 %

The stock has a 50 day moving average price of $58.28 and a 200 day moving average price of $43.96. The company has a market cap of $825.44 million, a P/E ratio of 12.58 and a beta of 2.10. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44.

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

Insider Transactions at Atlanticus

In other Atlanticus news, CAO Mitchell Saunders sold 16,004 shares of the 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 transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Denise M. Harrod sold 1,141 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $49.00, for a total transaction of $55,909.00. Following the sale, the director now directly owns 5,659 shares of the company’s stock, valued at $277,291. This represents a 16.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,504 shares of company stock valued at $962,522. Corporate insiders own 51.80% of the company’s stock.

Institutional Investors Weigh In On Atlanticus

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

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.