Atlanticus (NASDAQ:ATLC) Shares Pass Below 200-Day Moving Average – Here’s Why

Atlanticus Holdings Corporation (NASDAQ:ATLC) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ATLC shares. BTIG Research reiterated a “buy” rating and set a $105.00 price objective on shares of Atlanticus in a report on Monday, October 27th. Citizens Jmp increased their price target on shares of Atlanticus from $95.00 to $100.00 and gave the stock a “market outperform” rating in a research note on Thursday, December 11th. B. Riley Financial initiated coverage on shares of Atlanticus in a report on Wednesday, January 7th. They issued a “buy” rating and a $90.00 price target on the stock. Wall Street Zen downgraded Atlanticus from a “buy” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Atlanticus in a research report on Thursday, December 11th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Atlanticus has a consensus rating of “Moderate Buy” and an average target price of $90.00.

Atlanticus Trading Down 0.4%

The firm’s 50 day simple moving average is $61.69 and its 200-day simple moving average is $60.16. The company has a market capitalization of $831.49 million, a PE ratio of 9.75 and a beta of 1.95. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.20.

Atlanticus (NASDAQ:ATLC) last posted its earnings results on Monday, November 10th. The credit services provider reported $1.48 earnings per share 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 for the quarter, compared to analyst estimates of $503.64 million. As a group, equities research analysts anticipate that Atlanticus Holdings Corporation will post 4.49 EPS for the current year.

Insider Buying and Selling

In other Atlanticus news, Director Deal W. Hudson sold 1,675 shares of the business’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $59.72, for a total transaction of $100,031.00. Following the transaction, the director owned 60,467 shares in the company, valued at $3,611,089.24. The trade was a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 50.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Atlanticus

Hedge funds and other institutional investors have recently bought and sold shares of the stock. New York State Teachers Retirement System boosted 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 worth $28,000 after acquiring an additional 303 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Atlanticus during the third quarter valued at approximately $38,000. Advisory Services Network LLC acquired a new position in shares of Atlanticus during the third quarter worth $47,000. Jones Financial Companies Lllp acquired a new position in shares of Atlanticus during the first quarter worth $71,000. Finally, AlphaQuest LLC boosted its stake in shares of Atlanticus by 20,442.9% in the third quarter. AlphaQuest LLC now owns 1,438 shares of the credit services provider’s stock valued at $84,000 after purchasing an additional 1,431 shares during the period. 14.15% of the stock is 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.