In a research note that was distributed to customers and investors on Wednesday, TheStreet research analysts reduced Atlanticus (NASDAQ:ATLC) from a “b-” rating to a “c+” rating, as shown by TheStreetRatingsTable. In recent times, ATLC has become the topic of discussion from the perspectives of various research analysts. In a research note published on May 16th, B. Riley announced they would decrease their target price for Atlanticus shares from $75.00 to $53.00. In a research report released on July 15th, JMP Securities lowered their “market outperform” rating on shares of Atlanticus from $70.00 to $60.00, and their price objective on those shares from $70.00 to $60.00 in a research report that was released on July 15th.
The Price-Performance Matrix Provided by Atlanticus The price of Atlanticus stock when it first traded on Wednesday was $33.09. During its 52-week trading range, Atlanticus’s price ranged from $30.58 to $91.98. The ratio of debt to equity is 0.50, the ratio of quick to current assets is 1.40, and the ratio of existing assets to total assets is also 1.40. The stock’s 50-day and 200-day simple moving averages are currently sitting at $37.46 and $43.94, respectively. The company’s market value is $479.11 million, the price-to-earnings ratio of the stock is 4.41, and the beta value is 1.61. Internal Trading In other news, Chief Financial Officer William McKamy sold 900 shares of the company’s stock on August 11th.
The average price per share at which the stock was sold was $37.63, and a total of $33,867.00 worth of the stock was transacted. Because of the transaction, the chief financial officer now has ownership of 19,100 business shares, which have a combined value of around $718,733. The Securities and Exchange Commission was provided with a report regarding the transaction, which can be viewed on the official website of the SEC. Insiders have a stake in the company equal to 53.50 percent of its total shares. Atlanticus’ Market for Institutional Traders In recent months, a variety of institutional investors have made adjustments to the interests that they hold in the company.
During the second quarter, AQR Capital Management LLC added 3.7% more shares of Atlanticus to its holdings in the company. After purchasing an additional 267 shares during the quarter, AQR Capital Management LLC now has a total ownership stake of 7,486 shares in the credit services provider’s stock, valued at $263,000. During the second quarter, Citadel Advisors LLC achieved a 222.2% increase in its stake in Atlanticus. After purchasing an additional 6,473 shares throughout the period, Citadel Advisors LLC now owns 9,386 shares of the common stock of the company with a market valuation of $330,000.
During the second quarter, the Massachusetts Financial Services Co., MA, bought a new investment in Atlanticus for approximately $281,000 in total cost. During the second quarter, BNP Paribas Arbitrage SA increased the percentage of Atlanticus shares it owned by 82.00%. After purchasing an additional 523 shares during the quarter, BNP Paribas Arbitrage SA now has 1,161 shares of the credit services provider’s stock. The current value of these shares is $41,000. And finally, during the second quarter of the fiscal year, Atlanticus was the recipient of a new investment from Brandywine Global Investment Management LLC of about $670,000.
The company’s shares are held by institutional investors and hedge funds, which account for 16.80% of the total. In connection with Atlanticus, Atlanticus Holdings Corporation provides Credit and various other financial services and products to customers across the United States. It operates two distinct business divisions, Auto Finance and Credit as a Service. Lenders start a wide range of consumer loan products, like the private label and general purpose credit cards, through different channels, like retail and healthcare, direct mail solicitation, digital marketing, and partnerships with third parties. The Credit as a Service segment gives customers Credit to buy things like consumer electronics, furniture, elective medical procedures, and health care.
