Atlanticus (NASDAQ:ATLC) Share Price Crosses Below 200-Day Moving Average Following Analyst Downgrade

Key Points

• Atlanticus shares fell below their 200-day moving average after Wall Street Zen cut its rating from Strong Buy to Buy; the stock traded as low as $79 and last stood at $81.12.
• Despite mixed analyst calls, the consensus rating is Moderate Buy, with an average price target of $124.86. One analyst rates it Strong Buy, five Buy, and two Hold.
• Atlanticus reported quarterly EPS of $3.00, slightly above the $2.99 consensus, and revenue of $775.85 million, also edging past estimates.

Atlanticus Holdings Corporation (NASDAQ:ATLC - Get Free Report)'s stock price passed below its 200-day moving average during trading on Monday after Wall Street Zen downgraded the stock from a strong-buy rating to a buy rating. The stock has a 200-day moving average of $81.21 and traded as low as $79.00. Atlanticus shares last traded at $81.12, with a volume of 264,939 shares changing hands.

Several other research firms have also weighed in on ATLC. HSBC set a $144.00 price target on Atlanticus in a research report on Monday, July 13th. Zacks Research downgraded Atlanticus from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. Weiss Ratings reissued a "hold (c)" rating on shares of Atlanticus in a research report on Tuesday, September 8th. Texas Capital upgraded shares of Atlanticus from a "hold" rating to a "strong-buy" rating in a report on Monday, July 13th. Finally, Capital One Financial set a $144.00 target price on shares of Atlanticus in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $124.86.

Institutional Trading of Atlanticus

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Atlanticus during the second quarter valued at $43,535,000. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of Atlanticus during the second quarter valued at $9,161,293. Empowered Funds LLC bought a new position in shares of Atlanticus during the second quarter valued at $7,286,000. Inspire Investing LLC increased its holdings in shares of Atlanticus by 12.3% during the third quarter. Inspire Investing LLC now owns 27,401 shares of the credit services provider's stock valued at $2,398,000 after acquiring an additional 3,006 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Atlanticus in the 2nd quarter worth about $2,281,000. Hedge funds and other institutional investors own 14.15% of the company's stock.

Atlanticus Trading Down 11.1%

The stock has a market cap of $1.23 billion, a PE ratio of 7.15 and a beta of 1.80. The firm has a 50-day moving average price of $92.09 and a 200-day moving average price of $81.21. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.26 and a current ratio of 1.26.

Atlanticus (NASDAQ:ATLC - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The credit services provider reported $3.00 EPS for the quarter, beating the consensus estimate of $2.99 by $0.01. The company had revenue of $775.85 million for the quarter, compared to the consensus estimate of $775.08 million. Atlanticus had a net margin of 5.80% and a return on equity of 25.17%. As a group, equities analysts anticipate that Atlanticus Holdings Corporation will post 9.73 EPS for the current fiscal year.

Atlanticus Company Profile

Atlanticus Holdings Corporation is a financial technology and consumer finance company that provides credit products to consumers, including people who may have limited access to traditional credit. It works with banks, retailers and other partners to offer credit cards, installment loans and point-of-sale financing.

The company's offerings include general-purpose and private-label credit cards, as well as financing for purchases in areas such as healthcare and home improvement. Atlanticus also provides financing solutions through relationships with auto dealers and other businesses.

Founded in 1996 as CompuCredit, the company later adopted the Atlanticus name.

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