Atlanticus (NASDAQ:ATLC) Shares Down 6.4% – Time to Sell?

Atlanticus Holdings Corporation (NASDAQ:ATLC) shares dropped 6.4% during mid-day trading on Thursday . The stock traded as low as $93.00 and last traded at $92.7770. Approximately 15,977 shares traded hands during trading, a decline of 85% from the average daily volume of 108,495 shares. The stock had previously closed at $99.12.

Analyst Ratings Changes

ATLC has been the subject of a number of recent research reports. B. Riley Financial reiterated a “buy” rating on shares of Atlanticus in a research report on Thursday, May 14th. Jefferies Financial Group boosted their price target on shares of Atlanticus from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. HSBC set a $144.00 price objective on shares of Atlanticus in a research note on Monday, July 13th. BTIG Research increased their price objective on shares of Atlanticus from $105.00 to $179.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Finally, Wall Street Zen raised shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $126.00.

Atlanticus Price Performance

The company has a debt-to-equity ratio of 0.99, a current ratio of 1.26 and a quick ratio of 1.26. The stock’s fifty day moving average is $100.39 and its 200-day moving average is $78.15. The stock has a market cap of $1.46 billion, a PE ratio of 12.50 and a beta of 2.11.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings data on Thursday, August 6th. The credit services provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.08. The firm had revenue of $744.31 million during the quarter, compared to analysts’ expectations of $716.35 million. Atlanticus had a net margin of 5.80% and a return on equity of 25.17%. As a group, equities analysts anticipate that Atlanticus Holdings Corporation will post 9.48 EPS for the current year.

Insider Activity

In related news, CAO Mitchell Saunders sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $102.20, for a total value of $1,022,000.00. Following the transaction, the chief accounting officer directly owned 46,273 shares in the company, valued at approximately $4,729,100.60. This represents a 17.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO William Mccamey sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $103.01, for a total value of $1,030,100.00. Following the completion of the transaction, the chief financial officer owned 127,410 shares of the company’s stock, valued at $13,124,504.10. The trade was a 7.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 75,000 shares of company stock worth $7,868,627 over the last quarter. 51.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Atlanticus

Several large investors have recently modified their holdings of the business. Range Financial Group LLC grew its holdings in shares of Atlanticus by 5.8% during the 1st quarter. Range Financial Group LLC now owns 4,526 shares of the credit services provider’s stock worth $237,000 after purchasing an additional 247 shares during the period. Financial Management Professionals Inc. purchased a new stake in Atlanticus in the 2nd quarter valued at about $33,000. Price T Rowe Associates Inc. MD lifted its position in Atlanticus by 5.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,194 shares of the credit services provider’s stock valued at $616,000 after buying an additional 478 shares during the last quarter. Jump Financial LLC lifted its position in Atlanticus by 6.1% in the second quarter. Jump Financial LLC now owns 9,344 shares of the credit services provider’s stock valued at $512,000 after buying an additional 537 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in Atlanticus during the third quarter worth about $47,000. 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.