Atlanticus (NASDAQ:ATLC) Share Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Atlanticus Holdings Corporation (NASDAQ:ATLC) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $60.06 and traded as low as $52.29. Atlanticus shares last traded at $54.12, with a volume of 68,956 shares traded.

Analyst Upgrades and Downgrades

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

Atlanticus Stock Performance

The business has a 50-day moving average of $62.05 and a two-hundred day moving average of $60.06. 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 company has a market cap of $819.38 million, a P/E ratio of 9.61 and a beta of 1.95.

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

Insiders Place Their Bets

In other Atlanticus news, Director Deal W. Hudson sold 1,675 shares of Atlanticus stock in a transaction on 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 of the company’s stock, valued at approximately $3,611,089.24. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 50.40% of the stock is currently owned by company insiders.

Institutional Trading of Atlanticus

A number of institutional investors have recently made changes to their positions in ATLC. Russell Investments Group Ltd. grew its position in Atlanticus by 468.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 69,298 shares of the credit services provider’s stock worth $3,794,000 after purchasing an additional 57,103 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Atlanticus by 133.5% in the second quarter. Bridgeway Capital Management LLC now owns 93,234 shares of the credit services provider’s stock worth $5,105,000 after buying an additional 53,312 shares during the last quarter. UBS Group AG lifted its stake in shares of Atlanticus by 333.2% during the fourth quarter. UBS Group AG now owns 37,582 shares of the credit services provider’s stock worth $2,516,000 after buying an additional 28,907 shares during the period. American Century Companies Inc. grew its holdings in shares of Atlanticus by 25.8% during the second quarter. American Century Companies Inc. now owns 120,071 shares of the credit services provider’s stock valued at $6,574,000 after buying an additional 24,595 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new position in shares of Atlanticus in the 1st quarter valued at $1,083,000. 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.