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

Atlanticus Holdings Corporation (NASDAQ:ATLC) shares gapped down prior to trading on Friday . The stock had previously closed at $69.50, but opened at $67.42. Atlanticus shares last traded at $67.3860, with a volume of 5,957 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ATLC. Weiss Ratings restated a “hold (c-)” rating on shares of Atlanticus in a research note on Monday. Citigroup restated an “outperform” rating on shares of Atlanticus in a research note on Thursday, December 11th. B. Riley upped their price target on Atlanticus from $70.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 15th. JMP Securities lifted their price objective on Atlanticus from $78.00 to $95.00 and gave the stock a “market outperform” rating in a report on Thursday, September 18th. Finally, Citizens Jmp boosted their price objective on Atlanticus from $95.00 to $100.00 and gave the company a “market outperform” rating in a research note on Thursday, December 11th. Five equities research 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 company has a consensus rating of “Moderate Buy” and a consensus target price of $90.00.

Atlanticus Stock Performance

The business has a 50 day moving average of $60.10 and a 200-day moving average of $59.14. The company has a market capitalization of $1.01 billion, a P/E ratio of 11.86 and a beta of 1.94. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.25 and a current ratio of 1.25.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ATLC. New York State Teachers Retirement System raised its position in shares of Atlanticus by 151.5% in the second quarter. New York State Teachers Retirement System now owns 503 shares of the credit services provider’s stock worth $28,000 after buying an additional 303 shares in the last quarter. Jump Financial LLC raised its holdings in shares of Atlanticus by 6.1% in the 2nd quarter. Jump Financial LLC now owns 9,344 shares of the credit services provider’s stock valued at $512,000 after acquiring an additional 537 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of Atlanticus during the 3rd quarter valued at about $38,000. Advisory Services Network LLC purchased a new position in shares of Atlanticus during the third quarter worth about $47,000. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Atlanticus by 1.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 82,629 shares of the credit services provider’s stock worth $4,524,000 after purchasing an additional 982 shares during the last quarter. 14.15% of the stock is currently owned by hedge funds and other institutional investors.

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.