Atlantic International (NASDAQ:CIRC) Trading Down 7.8% - Here's What Happened

Key Points

• Atlantic International shares fell 7.8% to $0.60, touching a low of $0.4773, while trading volume surged to nearly 9.9 million shares—more than 12 times the average.
• The company reported a quarterly loss of $0.98 per share on revenue of $319.81 million. Weiss Ratings downgraded the stock, while analyst coverage remains split, producing a consensus “Hold” rating.
• CEO Guus Paul Wilhelm Franke sold 308,783 shares for approximately $308,783, reducing his stake by 2.47%; insiders collectively own 7.60% of the company.

Atlantic International Corp. (NASDAQ:CIRC - Get Free Report) shares traded down 7.8% during trading on Thursday . The company traded as low as $0.4773 and last traded at $0.60. Approximately 9,903,536 shares traded hands during trading, an increase of 1,237% from the average session volume of 740,473 shares. The stock had previously closed at $0.6510.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Atlantic International from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Atlantic International has a consensus rating of "Hold".

Atlantic International Stock Down 7.8%

The company has a market cap of $55.45 million, a P/E ratio of -0.28 and a beta of 0.81. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.39 and a current ratio of 0.39.

Atlantic International (NASDAQ:CIRC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 19th. The company reported ($0.98) earnings per share (EPS) for the quarter. The firm had revenue of $319.81 million during the quarter.

Insiders Place Their Bets

In other Atlantic International news, CEO Guus Paul Wilhelm Franke sold 308,783 shares of Atlantic International stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $1.00, for a total transaction of $308,783.00. Following the sale, the chief executive officer owned 12,207,287 shares of the company's stock, valued at $12,207,287. The trade was a 2.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. State Street Corp lifted its holdings in Atlantic International by 9.4% in the fourth quarter. State Street Corp now owns 103,859 shares of the company's stock worth $138,000 after purchasing an additional 8,959 shares during the period. Bank of New York Mellon Corp bought a new position in Atlantic International in the 1st quarter valued at about $31,000. Strs Ohio increased its stake in Atlantic International by 54.4% during the 1st quarter. Strs Ohio now owns 53,900 shares of the company's stock valued at $163,000 after buying an additional 19,000 shares during the period. Deutsche Bank AG increased its stake in Atlantic International by 232.1% during the 4th quarter. Deutsche Bank AG now owns 50,817 shares of the company's stock valued at $68,000 after buying an additional 35,513 shares during the period. Finally, New York State Common Retirement Fund bought a new stake in shares of Atlantic International during the 2nd quarter worth about $97,000.

Atlantic International Company Profile

Atlantic International Corp. is a specialty staffing and workforce solutions company that provides professional and administrative talent to clients across a range of industries. Through its operating businesses, the company focuses on connecting employers with qualified candidates for temporary, temp-to-perm, and permanent placement needs.

The company's services are generally centered on staffing, recruitment, and workforce management support, helping organizations address labor shortages and staffing fluctuations.

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