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

Atlanticus Holdings Corporation (NASDAQ:ATLC)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $66.00, but opened at $62.12. Atlanticus shares last traded at $61.18, with a volume of 27,324 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently commented on ATLC. Citizens Jmp increased their price target on shares of Atlanticus from $95.00 to $100.00 and gave the company a “market outperform” rating in a research report on Thursday, December 11th. JMP Securities raised their price target on Atlanticus from $78.00 to $95.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 18th. Wall Street Zen downgraded Atlanticus from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. BTIG Research reiterated a “buy” rating and set a $105.00 price objective on shares of Atlanticus in a research report on Monday, October 27th. Finally, B. Riley began coverage on shares of Atlanticus in a report on Wednesday, January 7th. They issued a “buy” rating and a $90.00 target price on the stock. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Atlanticus presently has an average rating of “Moderate Buy” and an average target price of $90.00.

Atlanticus Price Performance

The company has a market capitalization of $899.51 million, a PE ratio of 10.55 and a beta of 1.94. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.20. The company’s 50 day moving average price is $61.22 and its 200-day moving average price is $59.93.

Atlanticus (NASDAQ:ATLC) last issued its earnings results on Monday, November 10th. The credit services provider reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.14. The firm had revenue of $495.29 million for the quarter, compared to analysts’ expectations of $503.64 million. Atlanticus had a return on equity of 22.86% and a net margin of 7.46%. On average, sell-side analysts forecast that Atlanticus Holdings Corporation will post 4.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ATLC. Wellington Management Group LLP increased its position in shares of Atlanticus by 2.9% in the third quarter. Wellington Management Group LLP now owns 455,182 shares of the credit services provider’s stock worth $26,665,000 after acquiring an additional 12,861 shares in the last quarter. Vanguard Group Inc. increased its holdings in Atlanticus by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 305,772 shares of the credit services provider’s stock valued at $17,912,000 after purchasing an additional 19,159 shares in the last quarter. Geode Capital Management LLC raised its position in Atlanticus by 2.3% in the second quarter. Geode Capital Management LLC now owns 126,841 shares of the credit services provider’s stock valued at $6,945,000 after purchasing an additional 2,812 shares during the period. American Century Companies Inc. lifted its stake 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. Finally, Bridgeway Capital Management LLC boosted its position in shares of Atlanticus by 19.4% in the third quarter. Bridgeway Capital Management LLC now owns 111,342 shares of the credit services provider’s stock worth $6,522,000 after buying an additional 18,108 shares during the period. Hedge funds and other institutional investors own 14.15% of the company’s stock.

Atlanticus Company Profile

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.