Zacks Investment Research Lowers Atlanticus (NASDAQ:ATLC) to Strong Sell

Atlanticus (NASDAQ:ATLCGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Atlanticus Holdings Corporation provides credit and related financial services and products. The Company operates in Credit Cards, Investments in Previously Charged-Off Receivables, Auto Finance and Internet Micro-Loans. It markets fee-based products and services, including life insurance, card registration, telecommunication products and services, memberships in preferred buying clubs, travel services, and debt waiver programs. Atlanticus Holdings Corporation, formerly known as CompuCredit Holdings Corporation, is based in United States. “

Several other equities analysts have also recently commented on ATLC. StockNews.com started coverage on Atlanticus in a research note on Thursday, March 31st. They set a “buy” rating for the company. JMP Securities reduced their target price on Atlanticus from $100.00 to $70.00 in a research note on Monday. Finally, B. Riley reduced their target price on Atlanticus from $75.00 to $53.00 in a research note on Monday. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $66.33.

NASDAQ ATLC traded down $0.48 on Thursday, reaching $34.64. The company had a trading volume of 70,926 shares, compared to its average volume of 79,063. The firm has a market capitalization of $513.12 million, a PE ratio of 4.55 and a beta of 1.63. Atlanticus has a 1 year low of $30.58 and a 1 year high of $91.98. The firm has a 50-day moving average of $46.87 and a 200-day moving average of $58.95. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.43 and a quick ratio of 1.43.

Atlanticus (NASDAQ:ATLCGet Rating) last released its earnings results on Tuesday, May 10th. The credit services provider reported $1.96 EPS for the quarter, missing the consensus estimate of $2.19 by ($0.23). Atlanticus had a net margin of 21.47% and a return on equity of 71.35%. As a group, sell-side analysts expect that Atlanticus will post 9.05 EPS for the current fiscal year.

In other Atlanticus news, CAO Mitchell Saunders sold 2,000 shares of the stock in a transaction on Wednesday, March 30th. The stock was sold at an average price of $55.36, for a total value of $110,720.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO William Mccamey sold 10,000 shares of the stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $55.02, for a total value of $550,200.00. The disclosure for this sale can be found here. Company insiders own 53.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Quantbot Technologies LP acquired a new stake in Atlanticus in the first quarter worth $32,000. Goldman Sachs Group Inc. increased its position in Atlanticus by 29.9% in the first quarter. Goldman Sachs Group Inc. now owns 11,501 shares of the credit services provider’s stock worth $596,000 after buying an additional 2,650 shares during the period. Captrust Financial Advisors acquired a new stake in Atlanticus in the first quarter worth $29,000. State Street Corp increased its position in Atlanticus by 0.8% in the first quarter. State Street Corp now owns 96,627 shares of the credit services provider’s stock worth $5,004,000 after buying an additional 781 shares during the period. Finally, Samalin Investment Counsel LLC increased its position in Atlanticus by 179.2% in the first quarter. Samalin Investment Counsel LLC now owns 9,075 shares of the credit services provider’s stock worth $470,000 after buying an additional 5,825 shares during the period. 16.80% of the stock is currently owned by hedge funds and other institutional investors.

Atlanticus Company Profile (Get Rating)

Atlanticus Holdings Corporation 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, educational services, and home-improvements by partnering with retailers and service providers.

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