Atlanticus (NASDAQ:ATLC) Shares Down 4.4% – Here’s Why

Atlanticus Holdings Corporation (NASDAQ:ATLC)’s share price was down 4.4% during trading on Wednesday . The company traded as low as $66.48 and last traded at $66.4550. Approximately 16,166 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 63,331 shares. The stock had previously closed at $69.50.

Analysts Set New Price Targets

Several analysts have issued reports on ATLC shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Atlanticus in a research note on Monday. BTIG Research reissued a “buy” rating and set a $105.00 price target on shares of Atlanticus in a research report on Monday, October 27th. Citigroup reissued an “outperform” rating on shares of Atlanticus in a research note on Thursday, December 11th. Citizens Jmp lifted their target price on Atlanticus from $95.00 to $100.00 and gave the company a “market outperform” rating in a research note on Thursday, December 11th. Finally, JMP Securities upped their target price on Atlanticus from $78.00 to $95.00 and gave the company a “market outperform” rating in a report on Thursday, September 18th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $90.00.

Atlanticus Price Performance

The company has a market capitalization of $1.00 billion, a P/E ratio of 11.76 and a beta of 2.08. The stock’s fifty day simple moving average is $59.77 and its 200-day simple moving average is $59.03. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.25 and a quick ratio of 1.25.

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

Institutional Trading of Atlanticus

Hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Atlanticus by 3.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,751 shares of the credit services provider’s stock worth $806,000 after purchasing an additional 561 shares during the period. Invesco Ltd. acquired a new stake in Atlanticus during the first quarter worth about $207,000. Nuveen LLC acquired a new stake in Atlanticus during the first quarter worth about $645,000. Jump Financial LLC increased its stake in Atlanticus by 78.3% during the first quarter. Jump Financial LLC now owns 8,807 shares of the credit services provider’s stock valued at $450,000 after acquiring an additional 3,867 shares during the period. Finally, State of Wyoming acquired a new position in Atlanticus in the 1st quarter valued at approximately $202,000. 14.15% of the stock is 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.