Atlanticus (NASDAQ:ATLC) Trading Down 7.9% – Time to Sell?

Atlanticus Holdings Corporation (NASDAQ:ATLC)’s stock price fell 7.9% on Friday . The stock traded as low as $47.89 and last traded at $48.5750. 59,741 shares changed hands during trading, a decline of 11% from the average session volume of 67,444 shares. The stock had previously closed at $52.75.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Citizens Jmp raised their target price on Atlanticus from $95.00 to $100.00 and gave the stock a “market outperform” rating in a research report on Thursday, December 11th. B. Riley Financial began coverage on shares of Atlanticus in a research report on Wednesday, January 7th. They set a “buy” rating and a $90.00 target price on the stock. Wall Street Zen lowered shares of Atlanticus from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. Citigroup reaffirmed an “outperform” rating on shares of Atlanticus in a report on Thursday, December 11th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Atlanticus in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Atlanticus has an average rating of “Moderate Buy” and a consensus target price of $88.75.

Atlanticus Stock Down 6.4%

The company has a market cap of $747.89 million, a P/E ratio of 8.77 and a beta of 1.95. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.25 and a quick ratio of 1.25. The business’s 50 day moving average price is $56.71 and its 200-day moving average price is $59.88.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings results on Thursday, March 12th. The credit services provider reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. Atlanticus had a return on equity of 22.86% and a net margin of 7.46%.The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $691.81 million. On average, analysts anticipate that Atlanticus Holdings Corporation will post 4.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlanticus

In other news, Director Deal W. Hudson sold 1,675 shares of the firm’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 sale, the director directly owned 60,467 shares in the company, valued at approximately $3,611,089.24. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 50.40% of the company’s stock.

Institutional Investors Weigh In On Atlanticus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATLC. Russell Investments Group Ltd. increased its holdings in shares of Atlanticus by 468.2% in the second quarter. Russell Investments Group Ltd. now owns 69,298 shares of the credit services provider’s stock valued at $3,794,000 after purchasing an additional 57,103 shares in the last quarter. American Century Companies Inc. increased its position in Atlanticus by 25.8% in the second quarter. American Century Companies Inc. now owns 120,071 shares of the credit services provider’s stock worth $6,574,000 after purchasing an additional 24,595 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Atlanticus during the 2nd quarter worth about $451,000. Sierra Summit Advisors LLC acquired a new position in Atlanticus during the 2nd quarter valued at about $662,000. Finally, Panagora Asset Management Inc. bought a new position in shares of Atlanticus in the 2nd quarter valued at about $667,000. Institutional investors and hedge funds own 14.15% of the company’s stock.

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.