Atlanticus (NASDAQ:ATLC) Stock Price Down 6.3% – Here’s Why

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

Analysts Set New Price Targets

A number of equities analysts have commented on the company. BTIG Research lifted their target price on Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Stephens began coverage on Atlanticus in a research note on Wednesday, November 13th. They set an “overweight” rating and a $54.00 price objective for the company. B. Riley upgraded Atlanticus to a “strong-buy” rating in a research note on Tuesday. Finally, JMP Securities upped their price target on shares of Atlanticus from $54.00 to $75.00 and gave the stock a “market outperform” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $57.20.

Atlanticus Price Performance

The company has a market capitalization of $785.00 million, a price-to-earnings ratio of 11.97 and a beta of 2.05. The business has a fifty day moving average price of $54.37 and a 200 day moving average price of $40.71. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44.

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

Insider Activity

In related news, CAO Mitchell Saunders sold 16,004 shares of Atlanticus stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $55.55, for a total value of $889,022.20. Following the transaction, the chief accounting officer now owns 50,973 shares of the company’s stock, valued at approximately $2,831,550.15. This trade represents a 23.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Denise M. Harrod sold 1,141 shares of Atlanticus stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $49.00, for a total transaction of $55,909.00. Following the completion of the transaction, the director now directly owns 5,659 shares in the company, valued at approximately $277,291. This trade represents a 16.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,504 shares of company stock worth $962,522. 51.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Atlanticus

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new stake in shares of Atlanticus in the third quarter worth $1,654,000. Jane Street Group LLC acquired a new stake in Atlanticus during the 3rd quarter worth about $313,000. Geode Capital Management LLC increased its holdings in shares of Atlanticus by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 122,501 shares of the credit services provider’s stock valued at $4,298,000 after purchasing an additional 2,348 shares during the period. State Street Corp lifted its position in shares of Atlanticus by 2.4% in the third 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 in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Atlanticus by 285.6% during the third quarter. Barclays PLC now owns 8,218 shares of the credit services provider’s stock worth $289,000 after purchasing an additional 6,087 shares during the period. Institutional investors and hedge funds own 14.15% of the company’s stock.

About Atlanticus

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.