Atlanticus (NASDAQ:ATLC) Shares Gap Down – What’s Next?

Shares of Atlanticus Holdings Corporation (NASDAQ:ATLC) gapped down before the market opened on Monday . The stock had previously closed at $66.00, but opened at $62.12. Atlanticus shares last traded at $61.18, with a volume of 27,324 shares trading hands.

Wall Street Analyst Weigh In

ATLC has been the subject of several analyst reports. JMP Securities boosted their target price on Atlanticus from $78.00 to $95.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 18th. Citizens Jmp raised their price target on shares of Atlanticus from $95.00 to $100.00 and gave the stock a “market outperform” rating in a research report on Thursday, December 11th. Wall Street Zen downgraded shares of Atlanticus from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th. BTIG Research reiterated a “buy” rating and issued a $105.00 target price on shares of Atlanticus in a report on Monday, October 27th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Atlanticus in a report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Atlanticus currently has an average rating of “Moderate Buy” and a consensus price target of $90.00.

Atlanticus Stock Performance

The company has a market cap of $916.88 million, a P/E ratio of 10.76 and a beta of 1.94. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.20. The company’s fifty day moving average is $61.38 and its 200 day moving average is $60.03.

Atlanticus (NASDAQ:ATLC) last posted its earnings results on Monday, November 10th. The credit services provider reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.14. The firm had revenue of $495.29 million for the quarter, compared to analysts’ expectations of $503.64 million. Atlanticus had a return on equity of 22.86% and a net margin of 7.46%. As a group, equities analysts predict that Atlanticus Holdings Corporation will post 4.49 earnings per share for the current fiscal year.

Insider Activity at Atlanticus

In other news, Director Deal W. Hudson sold 1,675 shares of the business’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 completion of the transaction, the director owned 60,467 shares in the company, valued at $3,611,089.24. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 51.80% of the company’s stock.

Institutional Investors Weigh In On Atlanticus

Several hedge funds and other institutional investors have recently modified their holdings of ATLC. New York State Teachers Retirement System lifted its position in shares of Atlanticus by 151.5% in the second quarter. New York State Teachers Retirement System now owns 503 shares of the credit services provider’s stock valued at $28,000 after acquiring an additional 303 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of Atlanticus in the third quarter valued at about $38,000. Advisory Services Network LLC purchased a new stake in Atlanticus during the third quarter worth $47,000. Jones Financial Companies Lllp purchased a new position in shares of Atlanticus in the 1st quarter worth approximately $71,000. Finally, AlphaQuest LLC raised its stake in Atlanticus by 20,442.9% in the third quarter. AlphaQuest LLC now owns 1,438 shares of the credit services provider’s stock valued at $84,000 after buying an additional 1,431 shares during the last quarter. 14.15% of the stock is currently owned by hedge funds and other institutional investors.

Atlanticus Company Profile

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.