Atlanticus (NASDAQ:ATLC) Stock Price Down 6.3% – Time to Sell?

Shares of Atlanticus Holdings Co. (NASDAQ:ATLC) dropped 6.3% on Friday . The company traded as low as $52.45 and last traded at $52.45. Approximately 7,216 shares changed hands during trading, a decline of 85% from the average daily volume of 47,980 shares. The stock had previously closed at $55.98.

Wall Street Analyst Weigh In

Several research firms have issued reports on ATLC. BTIG Research increased their price objective on Atlanticus from $45.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Stephens started coverage on shares of Atlanticus in a report on Wednesday, November 13th. They set an “overweight” rating and a $54.00 price objective on the stock. B. Riley raised shares of Atlanticus to a “strong-buy” rating in a report on Tuesday. Finally, JMP Securities boosted their price target on Atlanticus from $54.00 to $75.00 and gave the stock a “market outperform” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $57.20.

Atlanticus Trading Down 4.9 %

The firm has a market cap of $785.00 million, a price-to-earnings ratio of 11.97 and a beta of 2.05. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average of $54.37 and a 200 day moving average of $40.71.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings data on Thursday, November 7th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.04. The business had revenue of $351.22 million for the quarter, compared to the consensus estimate of $326.64 million. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. On average, research analysts forecast that Atlanticus Holdings Co. will post 4.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlanticus

In other Atlanticus news, Director Denise M. Harrod sold 1,141 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $49.00, for a total transaction of $55,909.00. Following the completion of the sale, the director now directly owns 5,659 shares in the company, valued at $277,291. The trade was a 16.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mitchell Saunders sold 16,004 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $55.55, for a total transaction of $889,022.20. Following the completion of the transaction, the chief accounting officer now directly owns 50,973 shares in the company, valued at approximately $2,831,550.15. This represents a 23.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,504 shares of company stock worth $962,522 in the last 90 days. 51.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ATLC. FMR LLC lifted its stake in shares of Atlanticus by 393.1% in the third quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock worth $80,000 after acquiring an additional 1,820 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Atlanticus by 158.8% during the third quarter. MetLife Investment Management LLC now owns 2,971 shares of the credit services provider’s stock worth $104,000 after purchasing an additional 1,823 shares during the last quarter. Rhumbline Advisers increased its holdings in Atlanticus by 9.3% in the second quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock valued at $229,000 after buying an additional 690 shares during the last quarter. Barclays PLC raised its stake in Atlanticus by 285.6% during the third quarter. Barclays PLC now owns 8,218 shares of the credit services provider’s stock valued at $289,000 after buying an additional 6,087 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in Atlanticus by 9.3% during the 2nd quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock worth $234,000 after buying an additional 704 shares during the last quarter. Institutional investors and hedge funds own 14.15% of the company’s stock.

Atlanticus Company Profile

Atlanticus Holdings Corporation, a financial technology company, provides credit and related financial services and products to customers the United States. It operates in two segments, Credit as a Service, and Auto Finance. The Credit as a Service segment originates a range of consumer loan products, such as private label and general purpose credit cards originated by lenders through various channels, including retail and healthcare, direct mail solicitation, digital marketing, and partnerships with third parties; and offers credit to their customers for the purchase of various goods and services, including consumer electronics, furniture, elective medical procedures, healthcare, and home-improvements by partnering with retailers, healthcare providers, and other service providers.