Atlanticus (NASDAQ:ATLC) Stock Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Atlanticus Holdings Corporation (NASDAQ:ATLC)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $60.16 and traded as low as $53.88. Atlanticus shares last traded at $54.92, with a volume of 84,087 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently commented on ATLC. B. Riley Financial started coverage on shares of Atlanticus in a report on Wednesday, January 7th. They set a “buy” rating and a $90.00 price objective on the stock. Citigroup reiterated an “outperform” rating on shares of Atlanticus in a research report on Thursday, December 11th. BTIG Research reissued a “buy” rating and set a $105.00 price target on shares of Atlanticus in a research note on Monday, October 27th. Wall Street Zen downgraded Atlanticus from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Atlanticus in a report on Monday, December 29th. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.00.

Atlanticus Stock Performance

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 firm has a market capitalization of $831.49 million, a PE ratio of 9.75 and a beta of 1.95. The stock’s 50 day moving average price is $61.69 and its two-hundred day moving average price is $60.16.

Atlanticus (NASDAQ:ATLC) last announced its earnings results on Monday, November 10th. The credit services provider reported $1.48 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 analysts’ expectations of $503.64 million. On average, equities analysts expect that Atlanticus Holdings Corporation will post 4.49 earnings per share for the current year.

Insiders Place Their Bets

In other Atlanticus news, Director Deal W. Hudson sold 1,675 shares of the company’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $59.72, for a total value of $100,031.00. Following the transaction, the director directly owned 60,467 shares in the company, valued at approximately $3,611,089.24. This represents a 2.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 50.40% of the company’s stock.

Institutional Trading of Atlanticus

A number of hedge funds have recently bought and sold shares of the company. New York State Teachers Retirement System raised its holdings in Atlanticus by 151.5% in the 2nd 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 during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Atlanticus during the third quarter worth $38,000. Advisory Services Network LLC purchased a new stake in shares of Atlanticus in the third quarter valued at $47,000. Jones Financial Companies Lllp acquired a new position in Atlanticus in the first quarter valued at $71,000. Finally, AlphaQuest LLC lifted its position in Atlanticus by 20,442.9% during the third quarter. AlphaQuest LLC now owns 1,438 shares of the credit services provider’s stock worth $84,000 after buying an additional 1,431 shares during the period. Institutional investors and hedge funds own 14.15% of the company’s stock.

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.