Atlantic International (NASDAQ:CIRC) Posts Quarterly Earnings Results

Atlantic International (NASDAQ:CIRC) posted its quarterly earnings data on Wednesday. The company reported ($0.98) earnings per share for the quarter, FiscalAI reports. The firm had revenue of $319.81 million during the quarter.

Atlantic International Stock Performance

Shares of Atlantic International stock opened at $0.65 on Thursday. Atlantic International has a 52-week low of $0.41 and a 52-week high of $5.20. The stock has a market capitalization of $60.07 million, a P/E ratio of -0.49 and a beta of 0.81. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 1.09.

Insider Buying and Selling

In other news, CEO Guus Paul Wilhelm Franke sold 308,783 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $1.00, for a total value of $308,783.00. Following the completion of the transaction, the chief executive officer directly owned 12,207,287 shares of the company’s stock, valued at $12,207,287. This trade represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Atlantic International

A number of hedge funds and other institutional investors have recently bought and sold shares of CIRC. Bank of New York Mellon Corp bought a new stake in shares of Atlantic International in the 1st quarter valued at about $31,000. Deutsche Bank AG increased its position in Atlantic International by 232.1% during the 4th quarter. Deutsche Bank AG now owns 50,817 shares of the company’s stock valued at $68,000 after buying an additional 35,513 shares in the last quarter. New York State Common Retirement Fund purchased a new position in Atlantic International in the 2nd quarter worth approximately $97,000. State Street Corp raised its holdings in shares of Atlantic International by 9.4% during the fourth quarter. State Street Corp now owns 103,859 shares of the company’s stock valued at $138,000 after purchasing an additional 8,959 shares during the last quarter. Finally, Strs Ohio boosted its position in Atlantic International by 54.4% in the first quarter. Strs Ohio now owns 53,900 shares of the company’s stock worth $163,000 after purchasing an additional 19,000 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Atlantic International from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold”.

Atlantic International Company Profile

Atlantic International Corp. is a specialty staffing and workforce solutions company that provides professional and administrative talent to clients across a range of industries. Through its operating businesses, the company focuses on connecting employers with qualified candidates for temporary, temp-to-perm, and permanent placement needs.

The company’s services are generally centered on staffing, recruitment, and workforce management support, helping organizations address labor shortages and staffing fluctuations.