Atlanticus (NASDAQ:ATLC) Shares Gap Down – Here’s Why

Atlanticus Holdings Corporation (NASDAQ:ATLC)’s stock price gapped down prior to trading on Tuesday. The stock had previously closed at $91.23, but opened at $81.56. Atlanticus shares last traded at $81.6630, with a volume of 2,056 shares.

Analyst Ratings Changes

ATLC has been the subject of a number of recent research reports. Citizens Jmp raised their target price on Atlanticus from $110.00 to $117.00 and gave the stock a “market outperform” rating in a research report on Tuesday. B. Riley Financial reiterated a “buy” rating on shares of Atlanticus in a research note on Thursday, September 3rd. BTIG Research dropped their price objective on Atlanticus from $179.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, November 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Atlanticus in a report on Tuesday, September 8th. Finally, Citigroup reissued a “market outperform” rating on shares of Atlanticus in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Atlanticus has a consensus rating of “Moderate Buy” and an average price target of $127.00.

Atlanticus Price Performance

The business’s fifty day moving average price is $91.69 and its 200-day moving average price is $81.42. The company has a market capitalization of $1.23 billion, a P/E ratio of 7.08 and a beta of 1.80. The company has a current ratio of 1.27, a quick ratio of 1.26 and a debt-to-equity ratio of 0.87.

Atlanticus (NASDAQ:ATLC) last released its earnings results on Thursday, November 5th. The credit services provider reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.99 by $0.01. Atlanticus had a return on equity of 27.37% and a net margin of 7.65%. The business had revenue of $775.85 million for the quarter, compared to analysts’ expectations of $775.08 million. As a group, sell-side analysts predict that Atlanticus Holdings Corporation will post 9.73 earnings per share for the current fiscal year.

Institutional Trading of Atlanticus

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Management Professionals Inc. purchased a new position in shares of Atlanticus during the second quarter worth approximately $33,000. USA Financial Formulas purchased a new stake in shares of Atlanticus in the 3rd quarter valued at $39,000. Pinnacle Wealth Planning Services Inc. bought a new position in shares of Atlanticus during the 3rd quarter valued at $87,000. Walleye Capital LLC bought a new position in shares of Atlanticus during the 2nd quarter valued at $208,000. Finally, Diversified Trust Co raised its position in Atlanticus by 19.3% in the 3rd quarter. Diversified Trust Co now owns 2,616 shares of the credit services provider’s stock worth $229,000 after purchasing an additional 424 shares during the period. Hedge funds and other institutional investors own 14.15% of the company’s stock.

About Atlanticus

Atlanticus Holdings Corporation is a financial technology and consumer finance company that provides credit products to consumers, including people who may have limited access to traditional credit. It works with banks, retailers and other partners to offer credit cards, installment loans and point-of-sale financing. The company’s offerings include general-purpose and private-label credit cards, as well as financing for purchases in areas such as healthcare and home improvement. Atlanticus also provides financing solutions through relationships with auto dealers and other businesses.