Atlanticus (NASDAQ:ATLC) Shares Gap Down - What's Next?

Key Points

• Atlanticus shares opened sharply lower, falling from the prior close of $91.23 to $81.56, before trading near $81.66.
• Analysts’ consensus rating is “Moderate Buy” with a $127 price target. BTIG cut its target from $179 to $150 but maintained a Buy rating.
• In its latest quarterly results, Atlanticus reported $3.00 per share in earnings and $775.85 million in revenue, both slightly above analyst estimates.

Atlanticus Holdings Corporation (NASDAQ:ATLC - Get Free Report) shares gapped down before the market opened on Tuesday. The stock had previously closed at $91.23, but opened at $81.56. Atlanticus shares last traded at $81.6630, with a volume of 2,056 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ATLC shares. BTIG Research dropped their target price on shares of Atlanticus from $179.00 to $150.00 and set a "buy" rating on the stock in a report on Friday. HSBC set a $144.00 target price on shares of Atlanticus in a research report on Monday, July 13th. Texas Capital upgraded shares of Atlanticus from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 13th. Weiss Ratings reissued a "hold (c)" rating on shares of Atlanticus in a report on Tuesday, September 8th. Finally, Capital One Financial set a $144.00 price target on Atlanticus in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.00.

Atlanticus Stock Performance

The company has a debt-to-equity ratio of 0.99, a current ratio of 1.26 and a quick ratio of 1.26. The business has a 50-day simple moving average of $92.09 and a 200 day simple moving average of $81.21. The firm has a market cap of $1.21 billion, a PE ratio of 7.02 and a beta of 1.80.

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

Institutional Trading of Atlanticus

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

About Atlanticus

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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