Atlanticus (NASDAQ:ATLC) Shares Down 7.8% – Time to Sell?

Atlanticus Holdings Corporation (NASDAQ:ATLC)’s share price traded down 7.8% during trading on Friday . The company traded as low as $54.01 and last traded at $54.01. 3,374 shares were traded during trading, a decline of 95% from the average session volume of 65,049 shares. The stock had previously closed at $58.57.

Wall Street Analyst Weigh In

ATLC has been the topic of several research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Atlanticus in a research report on Monday, December 29th. B. Riley Financial started coverage on shares of Atlanticus in a research report on Wednesday, January 7th. They set a “buy” rating and a $90.00 price target for the company. Citizens Jmp increased their price objective on shares of Atlanticus from $95.00 to $100.00 and gave the stock a “market outperform” rating in a research note on Thursday, December 11th. Wall Street Zen lowered shares of Atlanticus from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Atlanticus in a report on Thursday, December 11th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

Atlanticus Price Performance

The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.20. The stock has a market cap of $829.82 million, a P/E ratio of 9.74 and a beta of 1.95. The firm has a 50 day moving average price of $57.77 and a 200 day moving average price of $60.09.

Insider Transactions at Atlanticus

In other Atlanticus news, Director Deal W. Hudson sold 1,675 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $59.72, for a total transaction of $100,031.00. Following the sale, the director owned 60,467 shares in the company, valued at approximately $3,611,089.24. This trade represents a 2.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 50.40% of the company’s stock.

Institutional Trading of Atlanticus

A number of hedge funds and other institutional investors have recently modified their holdings of ATLC. Russell Investments Group Ltd. lifted its position in shares of Atlanticus by 468.2% in the second quarter. Russell Investments Group Ltd. now owns 69,298 shares of the credit services provider’s stock valued at $3,794,000 after acquiring an additional 57,103 shares in the last quarter. American Century Companies Inc. grew its position in shares of Atlanticus by 25.8% during the second quarter. American Century Companies Inc. now owns 120,071 shares of the credit services provider’s stock worth $6,574,000 after purchasing an additional 24,595 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Atlanticus during the second quarter worth about $451,000. Sierra Summit Advisors LLC bought a new stake in Atlanticus during the 2nd quarter valued at approximately $662,000. Finally, Panagora Asset Management Inc. purchased a new position in Atlanticus in the 2nd quarter worth approximately $667,000. 14.15% of the stock is owned by hedge funds and other institutional investors.

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.