Atlantic International (NASDAQ:CIRC) Releases Quarterly Earnings Results

Atlantic International (NASDAQ:CIRC) issued its quarterly earnings data on Wednesday. The company reported ($0.98) earnings per share for the quarter, FiscalAI reports. The company had revenue of $319.81 million for the quarter.

Atlantic International Stock Performance

Atlantic International stock traded down $0.01 during trading hours on Wednesday, reaching $0.65. 248,281 shares of the company’s stock were exchanged, compared to its average volume of 5,093,908. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 1.09. Atlantic International has a twelve month low of $0.41 and a twelve month high of $5.20. The company has a market cap of $60.17 million, a P/E ratio of -0.49 and a beta of 0.81.

Insider Activity

In other news, CEO Guus Paul Wilhelm Franke sold 308,783 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $1.00, for a total value of $308,783.00. Following the transaction, the chief executive officer directly owned 12,207,287 shares of the company’s stock, valued at $12,207,287. The trade was a 2.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 13.60% of the stock is owned by corporate insiders.

Institutional Trading of Atlantic International

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of Atlantic International by 112.2% during the 2nd quarter. Geode Capital Management LLC now owns 245,077 shares of the company’s stock valued at $498,000 after acquiring an additional 129,572 shares during the period. New York State Common Retirement Fund acquired a new stake in Atlantic International in the second quarter worth $97,000. Deutsche Bank AG increased its stake in Atlantic International by 232.1% in the fourth quarter. Deutsche Bank AG now owns 50,817 shares of the company’s stock valued at $68,000 after purchasing an additional 35,513 shares in the last quarter. State Street Corp grew its stake in shares of Atlantic International by 9.4% in the 4th quarter. State Street Corp now owns 103,859 shares of the company’s stock valued at $138,000 after buying an additional 8,959 shares during the period. Finally, Strs Ohio boosted its holdings in Atlantic International by 54.4% in the first quarter. Strs Ohio now owns 53,900 shares of the company’s stock worth $163,000 after acquiring an additional 19,000 shares in the last quarter.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Atlantic International from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Atlantic International Company Profile

Atlantic International Corp. is a specialty staffing and workforce solutions company that provides professional and administrative talent to clients across a range of industries. Through its operating businesses, the company focuses on connecting employers with qualified candidates for temporary, temp-to-perm, and permanent placement needs.

The company’s services are generally centered on staffing, recruitment, and workforce management support, helping organizations address labor shortages and staffing fluctuations.