Atlanticus (NASDAQ:ATLC) Stock Price Down 6.6% – Here’s Why

Shares of Atlanticus Holdings Corporation (NASDAQ:ATLC) dropped 6.6% during mid-day trading on Thursday . The company traded as low as $83.73 and last traded at $82.7830. Approximately 18,509 shares were traded during trading, a decline of 76% from the average daily volume of 76,481 shares. The stock had previously closed at $88.59.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ATLC shares. Weiss Ratings upgraded Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. B. Riley Financial restated a “buy” rating on shares of Atlanticus in a report on Thursday, May 14th. Zacks Research upgraded Atlanticus from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Texas Capital upgraded Atlanticus to a “hold” rating in a report on Wednesday. Finally, Wall Street Zen upgraded Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.25.

Atlanticus Price Performance

The company’s 50-day simple moving average is $76.77 and its 200-day simple moving average is $64.84. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 13.79 and a beta of 2.14.

Atlanticus (NASDAQ:ATLC) last issued its quarterly earnings data on Thursday, May 7th. The credit services provider reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.54. The firm had revenue of $679.59 million during the quarter, compared to the consensus estimate of $749.36 million. Atlanticus had a net margin of 5.86% and a return on equity of 23.43%. Research analysts forecast that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlanticus

Hedge funds have recently bought and sold shares of the stock. Denali Advisors LLC lifted its position in Atlanticus by 83.8% during the fourth quarter. Denali Advisors LLC now owns 15,222 shares of the credit services provider’s stock worth $1,019,000 after acquiring an additional 6,941 shares during the last quarter. UBS Group AG boosted its stake in shares of Atlanticus by 333.2% in the fourth quarter. UBS Group AG now owns 37,582 shares of the credit services provider’s stock valued at $2,516,000 after buying an additional 28,907 shares during the period. Los Angeles Capital Management LLC boosted its stake in shares of Atlanticus by 28.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 31,265 shares of the credit services provider’s stock valued at $2,093,000 after buying an additional 6,970 shares during the period. Range Financial Group LLC bought a new stake in shares of Atlanticus in the fourth quarter valued at approximately $286,000. Finally, Quantbot Technologies LP boosted its stake in shares of Atlanticus by 49.6% in the third quarter. Quantbot Technologies LP now owns 4,340 shares of the credit services provider’s stock valued at $254,000 after buying an additional 1,439 shares during the period. 14.15% of the stock is currently owned by institutional investors and hedge funds.

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.