Key Points
- CEO Paul Franke sold 579,902 Atlantic International shares at an average price of $0.42, generating $243,558.84. His remaining stake fell 4.77% to 11.57 million shares.
- Franke also sold 179,457 shares for $68,193.66 in October and 60,000 shares for $30,000 in September, indicating additional recent insider selling.
- Atlantic International shares opened at $0.24, near their 52-week low of $0.22, while the company reported a quarterly loss of $0.98 per share on revenue of $319.81 million. Analyst sentiment was mixed, with one Strong Buy and one Sell rating.
Atlantic International Corp. (NASDAQ:CIRC - Get Free Report) CEO Paul Franke sold 60,000 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $0.50, for a total value of $30,000.00. Following the completion of the transaction, the chief executive officer directly owned 12,147,287 shares in the company, valued at $6,073,643.50. This represents a 0.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Guus Paul Wilhelm Franke also recently made the following trade(s):
- On Tuesday, October 13th, Paul Franke sold 179,457 shares of Atlantic International stock. The stock was sold at an average price of $0.38, for a total value of $68,193.66.
- On Monday, September 21st, Paul Franke sold 579,902 shares of Atlantic International stock. The stock was sold at an average price of $0.42, for a total value of $243,558.84.
Atlantic International Stock Up 5.1%
Shares of NASDAQ CIRC opened at $0.24 on Friday. Atlantic International Corp. has a 52 week low of $0.22 and a 52 week high of $4.56. The firm has a 50 day moving average price of $0.47. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $27.30 million, a price-to-earnings ratio of -0.11 and a beta of 0.75.
Atlantic International (NASDAQ:CIRC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 19th. The company reported ($0.98) earnings per share (EPS) for the quarter. The business had revenue of $319.81 million for the quarter.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reiterated a "sell (e+)" rating on shares of Atlantic International in a research note on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy".
View Our Latest Stock Analysis on Atlantic International
Institutional Investors Weigh In On Atlantic International
Several hedge funds have recently bought and sold shares of the stock. State Street Corp acquired a new stake in shares of Atlantic International during the 2nd quarter worth approximately $145,000. HighTower Advisors LLC purchased a new stake in Atlantic International during the second quarter worth $368,000. Bank of New York Mellon Corp acquired a new stake in Atlantic International during the first quarter valued at $31,000. Finally, Strs Ohio grew its position in Atlantic International by 54.4% during the first quarter. Strs Ohio now owns 53,900 shares of the company's stock valued at $163,000 after buying an additional 19,000 shares during the period.
Atlantic International Company Profile
(
Get Free Report)
Atlantic International Corp., through its subsidiaries, operates as a staffing company servicing the commercial, professional, finance, direct placement, and managed service provider verticals. The company specializes in permanent, temporary, and temporary-to-permanent placement services in various areas, including accounting and finance, administrative and clerical, hospitality, information technology, legal, light industrial, and medical fields. It also provides productivity consulting and workforce management solutions.
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