Jeffrey Howard Sells 10,000 Shares of Atlanticus (NASDAQ:ATLC) Stock

Atlanticus Holdings Corporation (NASDAQ:ATLC) CEO Jeffrey Howard sold 10,000 shares of Atlanticus stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $103.01, for a total transaction of $1,030,100.00. Following the transaction, the chief executive officer directly owned 663,265 shares of the company’s stock, valued at $68,322,927.65. This represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Atlanticus Stock Performance

NASDAQ:ATLC opened at $96.40 on Friday. The stock has a market capitalization of $1.46 billion, a P/E ratio of 14.39 and a beta of 2.11. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.08. Atlanticus Holdings Corporation has a 1 year low of $45.74 and a 1 year high of $112.61. The firm has a 50 day moving average of $87.72 and a 200-day moving average of $69.15.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings results on Thursday, May 7th. The credit services provider reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.54. Atlanticus had a return on equity of 23.43% and a net margin of 5.86%.The firm had revenue of $679.59 million during the quarter, compared to analysts’ expectations of $749.36 million. As a group, sell-side analysts anticipate that Atlanticus Holdings Corporation will post 9.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ATLC. BTIG Research raised their target price on Atlanticus from $105.00 to $179.00 and gave the company a “buy” rating in a research note on Tuesday. Weiss Ratings upgraded shares of Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Citizens Jmp increased their price objective on shares of Atlanticus from $100.00 to $102.00 and gave the stock a “market outperform” rating in a report on Tuesday, March 17th. Zacks Research upgraded shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Atlanticus in a research note on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $119.75.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ATLC. Denali Advisors LLC increased its position in Atlanticus by 83.8% in the fourth quarter. Denali Advisors LLC now owns 15,222 shares of the credit services provider’s stock worth $1,019,000 after purchasing an additional 6,941 shares during the period. Los Angeles Capital Management LLC raised its holdings in Atlanticus by 28.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 31,265 shares of the credit services provider’s stock worth $2,093,000 after purchasing an additional 6,970 shares during the last quarter. UBS Group AG lifted its position in Atlanticus by 333.2% during the 4th quarter. UBS Group AG now owns 37,582 shares of the credit services provider’s stock valued at $2,516,000 after purchasing an additional 28,907 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Atlanticus by 11.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,701 shares of the credit services provider’s stock valued at $471,000 after purchasing an additional 918 shares during the period. Finally, Range Financial Group LLC boosted its stake in shares of Atlanticus by 5.8% in the 1st quarter. Range Financial Group LLC now owns 4,526 shares of the credit services provider’s stock valued at $237,000 after purchasing an additional 247 shares during the last quarter. 14.15% of the stock is currently owned by institutional investors.

About Atlanticus

Atlanticus Holdings Corporation is a specialty financial services holding company that provides credit products and solutions to consumers across the United States. Through its subsidiaries, the company offers proprietary credit card programs, installment loan products and deposit accounts designed to serve customers who may have limited access to traditional credit. Atlanticus markets its offerings through a variety of channels, including direct‐to‐consumer online platforms, mail order, call centers and partnerships with retail and e-commerce businesses.

The company underwrites and services credit card portfolios under private-label and co-branded agreements, combining technology‐enabled underwriting with tailored customer service.