Atlanticus (NASDAQ:ATLC) Shares Down 4.6% - Here's Why

Key Points

• Atlanticus Holdings Corporation (NASDAQ:ATLC) shares fell 4.6% to $54.12, with trading volume down 27% from average levels.
• Analysts maintain a consensus rating of "Moderate Buy" for Atlanticus, with a consensus price target of $76.60 after several upgrades in recent weeks.
• The company reported a strong quarterly performance with earnings of $1.51 per share, exceeding estimates, and announced a dividend yielding 3.5% annually.

Atlanticus Holdings Corporation (NASDAQ:ATLC - Get Free Report) dropped 4.6% on Monday . The stock traded as low as $54.27 and last traded at $54.12. Approximately 43,670 shares traded hands during trading, a decline of 27% from the average daily volume of 60,071 shares. The stock had previously closed at $56.73.

Wall Street Analyst Weigh In

ATLC has been the topic of a number of research reports. B. Riley raised their price target on Atlanticus from $70.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Citigroup reaffirmed an "outperform" rating on shares of Atlanticus in a report on Thursday, September 18th. Wall Street Zen upgraded shares of Atlanticus from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 26th. Weiss Ratings restated a "hold (c)" rating on shares of Atlanticus in a research note on Saturday, September 27th. Finally, BTIG Research reiterated a "buy" rating and set a $84.00 target price on shares of Atlanticus in a research note on Thursday, September 11th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.60.

Atlanticus Stock Performance

The stock has a 50-day moving average price of $62.52 and a 200 day moving average price of $55.91. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market cap of $818.60 million, a PE ratio of 9.51 and a beta of 2.15.

Atlanticus (NASDAQ:ATLC - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The credit services provider reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.30 by $0.21. The company had revenue of $393.82 million during the quarter, compared to the consensus estimate of $373.87 million. Atlanticus had a net margin of 8.51% and a return on equity of 24.20%. Research analysts forecast that Atlanticus Holdings Corporation will post 4.49 earnings per share for the current year.

Atlanticus Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 1st were issued a dividend of $0.4766 per share. This represents a $1.91 dividend on an annualized basis and a dividend yield of 3.5%.

Insider Transactions at Atlanticus

In related news, Director Deal W. Hudson sold 2,000 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $62.39, for a total transaction of $124,780.00. Following the completion of the sale, the director directly owned 61,092 shares of the company's stock, valued at approximately $3,811,529.88. This represents a 3.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 51.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Atlanticus

Several large investors have recently modified their holdings of the business. Bank of America Corp DE boosted its holdings in Atlanticus by 29.0% in the fourth quarter. Bank of America Corp DE now owns 6,121 shares of the credit services provider's stock valued at $341,000 after purchasing an additional 1,376 shares during the last quarter. Two Sigma Advisers LP acquired a new stake in Atlanticus in the fourth quarter valued at $201,000. GAMMA Investing LLC grew its holdings in Atlanticus by 28,426.9% during the 1st quarter. GAMMA Investing LLC now owns 7,417 shares of the credit services provider's stock worth $379,000 after acquiring an additional 7,391 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Atlanticus in the 1st quarter worth about $2,588,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Atlanticus in the first quarter worth about $387,000. 14.15% of the stock is currently owned by institutional investors and hedge funds.

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.

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