Atlanticus (NASDAQ:ATLC) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

Atlanticus Holdings Corporation (NASDAQ:ATLC) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $54.09 and traded as low as $50.19. Atlanticus shares last traded at $50.96, with a volume of 81,613 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $60.00 price target (up from $52.00) on shares of Atlanticus in a research note on Monday, May 12th. Wall Street Zen lowered Atlanticus from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 9th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Atlanticus presently has an average rating of “Buy” and an average target price of $62.60.

Atlanticus Trading Up 1.1%

The firm has a market capitalization of $771.02 million, a P/E ratio of 9.86 and a beta of 1.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a 50 day moving average price of $52.26 and a two-hundred day moving average price of $54.09.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings data on Thursday, May 8th. The credit services provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.16. The business had revenue of $344.87 million during the quarter, compared to analyst estimates of $347.24 million. Atlanticus had a return on equity of 24.51% and a net margin of 8.54%. On average, equities research analysts expect that Atlanticus Holdings Corporation will post 4.49 EPS for the current fiscal year.

Institutional Trading of Atlanticus

Hedge funds have recently modified their holdings of the business. Millennium Management LLC purchased a new stake in shares of Atlanticus in the fourth quarter valued at $987,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Atlanticus in the fourth quarter valued at $3,828,000. Horizon Investment Services LLC purchased a new stake in shares of Atlanticus in the fourth quarter valued at $617,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Atlanticus in the fourth quarter valued at $425,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Atlanticus by 159.2% in the fourth quarter. Wellington Management Group LLP now owns 122,225 shares of the credit services provider’s stock valued at $6,818,000 after purchasing an additional 75,068 shares in the last quarter. Hedge funds and other institutional investors own 14.15% of the company’s stock.

About Atlanticus

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.