Atlanticus (NASDAQ:ATLC) Share Price Passes Below 200 Day Moving Average - What's Next?

Atlanticus Holdings Corporation (NASDAQ:ATLC - Get Free Report) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $54.09 and traded as low as $50.19. Atlanticus shares last traded at $50.96, with a volume of 81,613 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $60.00 price target (up previously from $52.00) on shares of Atlanticus in a research note on Monday, May 12th. Wall Street Zen cut Atlanticus from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $62.60.

Atlanticus Trading Up 1.7%

The stock has a market capitalization of $779.35 million, a PE ratio of 9.96 and a beta of 1.81. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average price of $52.21 and a 200-day moving average price of $53.89.

Atlanticus (NASDAQ:ATLC - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The credit services provider reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.16. Atlanticus had a return on equity of 24.51% and a net margin of 8.54%. The business had revenue of $344.87 million during the quarter, compared to analysts' expectations of $347.24 million. Sell-side analysts expect that Atlanticus Holdings Corporation will post 4.49 earnings per share for the current year.

Institutional Trading of Atlanticus

Several hedge funds have recently made changes to their positions in ATLC. Wellington Management Group LLP increased its stake in Atlanticus by 198.9% in the first quarter. Wellington Management Group LLP now owns 365,278 shares of the credit services provider's stock worth $18,684,000 after purchasing an additional 243,053 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Atlanticus in the 4th quarter worth about $3,828,000. Janney Montgomery Scott LLC bought a new stake in Atlanticus during the 1st quarter valued at about $2,588,000. American Century Companies Inc. lifted its holdings in Atlanticus by 82.4% during the 1st quarter. American Century Companies Inc. now owns 95,476 shares of the credit services provider's stock valued at $4,884,000 after buying an additional 43,142 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Atlanticus in the 1st quarter valued at about $1,666,000. 14.15% of the stock is currently 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.