Atlanticus (NASDAQ:ATLC) Stock Price Down 6.3% – Should You Sell?

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on ATLC shares. BTIG Research boosted their target price on Atlanticus from $45.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. B. Riley raised Atlanticus to a “strong-buy” rating in a research report on Tuesday, January 7th. Stephens started coverage on shares of Atlanticus in a report on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 target price on the stock. Finally, JMP Securities boosted their price target on shares of Atlanticus from $54.00 to $75.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $57.20.

Atlanticus Price Performance

The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. The company’s 50 day simple moving average is $54.70 and its 200 day simple moving average is $41.00. The company has a market capitalization of $788.39 million, a PE ratio of 12.02 and a beta of 2.05.

Atlanticus (NASDAQ:ATLC) last posted its earnings results on Thursday, November 7th. The credit services provider reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.04. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. The firm had revenue of $351.22 million for the quarter, compared to the consensus estimate of $326.64 million. As a group, sell-side analysts predict that Atlanticus Holdings Co. will post 4.47 earnings per share for the current year.

Insider Activity

In related news, CAO Mitchell Saunders sold 16,004 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $55.55, for a total value of $889,022.20. Following the completion of the sale, the chief accounting officer now owns 50,973 shares in the company, valued at $2,831,550.15. This represents a 23.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Denise M. Harrod sold 1,141 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $49.00, for a total transaction of $55,909.00. Following the transaction, 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 disclosure for this sale can be found here. In the last three months, insiders sold 17,504 shares of company stock valued at $962,522. Insiders own 51.80% of the company’s stock.

Institutional Trading of Atlanticus

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATLC. FMR LLC raised its stake in shares of Atlanticus by 393.1% during the third quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock worth $80,000 after purchasing an additional 1,820 shares during the last quarter. MetLife Investment Management LLC lifted its stake in shares of Atlanticus by 158.8% in the 3rd quarter. MetLife Investment Management LLC now owns 2,971 shares of the credit services provider’s stock worth $104,000 after acquiring an additional 1,823 shares during the period. Rhumbline Advisers boosted its holdings in shares of 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 acquiring an additional 690 shares in the last quarter. Squarepoint Ops LLC increased its stake in shares of Atlanticus by 9.3% during the second quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock worth $234,000 after acquiring an additional 704 shares during the period. Finally, Barclays PLC lifted its position in Atlanticus by 285.6% in the third quarter. Barclays PLC now owns 8,218 shares of the credit services provider’s stock valued at $289,000 after purchasing an additional 6,087 shares during the period. 14.15% of the stock is owned by hedge funds and other institutional investors.

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.