Atlanticus (NASDAQ:ATLC) Shares Down 7.8% – Here’s What Happened

Atlanticus Holdings Corporation (NASDAQ:ATLC) shares fell 7.8% during mid-day trading on Friday . The stock traded as low as $54.01 and last traded at $54.01. 3,374 shares were traded during trading, a decline of 95% from the average session volume of 65,049 shares. The stock had previously closed at $58.57.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ATLC shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Atlanticus in a research report on Monday, December 29th. B. Riley Financial began coverage on shares of Atlanticus in a research note on Wednesday, January 7th. They issued a “buy” rating and a $90.00 target price on the stock. Citizens Jmp increased their price target on shares of Atlanticus from $95.00 to $100.00 and gave the company a “market outperform” rating in a research report on Thursday, December 11th. Wall Street Zen cut shares of Atlanticus from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. Finally, Citigroup reiterated an “outperform” rating on shares of Atlanticus in a report on Thursday, December 11th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.75.

Atlanticus Stock Down 4.9%

The company’s fifty day simple moving average is $58.08 and its 200 day simple moving average is $60.17. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $843.15 million, a PE ratio of 9.89 and a beta of 1.95.

Insider Buying and Selling at Atlanticus

In related news, Director Deal W. Hudson sold 1,675 shares of the company’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $59.72, for a total value of $100,031.00. Following the sale, the director directly owned 60,467 shares of the company’s stock, valued at $3,611,089.24. This represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 50.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its stake in Atlanticus by 54.7% during the fourth quarter. Wellington Management Group LLP now owns 704,282 shares of the credit services provider’s stock worth $47,152,000 after acquiring an additional 249,100 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Atlanticus by 468.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 69,298 shares of the credit services provider’s stock worth $3,794,000 after purchasing an additional 57,103 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in shares of Atlanticus by 133.5% in the 2nd quarter. Bridgeway Capital Management LLC now owns 93,234 shares of the credit services provider’s stock worth $5,105,000 after buying an additional 53,312 shares during the last quarter. UBS Group AG increased its position in Atlanticus by 333.2% during the 4th quarter. UBS Group AG now owns 37,582 shares of the credit services provider’s stock valued at $2,516,000 after buying an additional 28,907 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Atlanticus by 25.8% during the second quarter. American Century Companies Inc. now owns 120,071 shares of the credit services provider’s stock valued at $6,574,000 after buying an additional 24,595 shares during the last quarter. 14.15% of the stock is currently owned by institutional investors.

About Atlanticus

Atlanticus Holdings Corporation is a specialty financial services holding company that provides credit products and solutions to consumers across the United States. Through its subsidiaries, the company offers proprietary credit card programs, installment loan products and deposit accounts designed to serve customers who may have limited access to traditional credit. Atlanticus markets its offerings through a variety of channels, including direct‐to‐consumer online platforms, mail order, call centers and partnerships with retail and e-commerce businesses.

The company underwrites and services credit card portfolios under private-label and co-branded agreements, combining technology‐enabled underwriting with tailored customer service.