Atlanticus (NASDAQ:ATLC) Shares Gap Up – Here’s What Happened

Atlanticus Holdings Corporation (NASDAQ:ATLC)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $99.26, but opened at $103.81. Atlanticus shares last traded at $101.42, with a volume of 16,704 shares traded.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. HSBC set a $144.00 price target on Atlanticus in a report on Monday. Zacks Research upgraded Atlanticus from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. Capital One Financial set a $144.00 price target on shares of Atlanticus in a research report on Monday. BTIG Research lifted their price objective on shares of Atlanticus from $105.00 to $179.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Finally, Wall Street Zen upgraded shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Atlanticus currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.00.

Atlanticus Price Performance

The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.08. The firm’s 50 day simple moving average is $89.60 and its 200 day simple moving average is $70.19. The company has a market capitalization of $1.52 billion, a PE ratio of 15.00 and a beta of 2.11.

Atlanticus (NASDAQ:ATLC) last posted its quarterly earnings data 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. The business had revenue of $679.59 million for the quarter, compared to analysts’ expectations of $749.36 million. Atlanticus had a net margin of 5.86% and a return on equity of 23.43%. As a group, research analysts anticipate that Atlanticus Holdings Corporation will post 9.48 EPS for the current fiscal year.

Insider Activity

In other Atlanticus news, CEO Jeffrey A. Howard sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $103.01, for a total value of $1,030,100.00. Following the completion of the sale, the chief executive officer owned 663,265 shares of the company’s stock, valued at $68,322,927.65. This trade represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Frank J. Hanna III sold 15,676 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $104.26, for a total value of $1,634,379.76. Following the transaction, the insider directly owned 259,392 shares in the company, valued at approximately $27,044,209.92. This represents a 5.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 75,000 shares of company stock valued at $7,868,627. Company insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Atlanticus

A number of large investors have recently bought and sold shares of ATLC. Wellington Management Group LLP lifted its position in shares of Atlanticus by 54.7% during the fourth quarter. Wellington Management Group LLP now owns 704,282 shares of the credit services provider’s stock worth $47,152,000 after purchasing an additional 249,100 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Atlanticus by 6.7% in the third quarter. Vanguard Group Inc. now owns 305,772 shares of the credit services provider’s stock worth $17,912,000 after purchasing an additional 19,159 shares during the last quarter. HB Wealth Management LLC increased its stake in Atlanticus by 1,761.6% in the 1st quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider’s stock worth $6,233,000 after buying an additional 112,407 shares during the period. State Street Corp increased its stake in Atlanticus by 9.8% in the 4th quarter. State Street Corp now owns 117,071 shares of the credit services provider’s stock worth $7,838,000 after buying an additional 10,409 shares during the period. Finally, Bridgeway Capital Management LLC lifted its holdings in Atlanticus by 0.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 112,147 shares of the credit services provider’s stock valued at $7,508,000 after buying an additional 805 shares in the last quarter. Hedge funds and other institutional investors own 14.15% of the company’s stock.

Atlanticus Company Profile

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.