Atlanticus (NASDAQ:ATLC) Major Shareholder Sells $105,525.00 in Stock

Atlanticus Holdings Corporation (NASDAQ:ATLC) major shareholder Frank Hanna III sold 1,005 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $105.00, for a total transaction of $105,525.00. Following the completion of the sale, the insider directly owned 283,387 shares in the company, valued at $29,755,635. This trade represents a 0.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Atlanticus Price Performance

ATLC stock opened at $96.40 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.24 and a quick ratio of 1.24. The company’s 50 day simple moving average is $87.72 and its 200-day simple moving average is $69.15. Atlanticus Holdings Corporation has a 12 month low of $45.74 and a 12 month high of $112.61. The firm has a market capitalization of $1.46 billion, a PE ratio of 14.39 and a beta of 2.11.

Atlanticus (NASDAQ:ATLC) last issued its quarterly earnings data on Thursday, May 7th. The credit services provider reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $749.36 million. Equities analysts expect that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Weiss Ratings raised Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Zacks Research raised Atlanticus from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 20th. Texas Capital upgraded Atlanticus to a “hold” rating in a research report on Wednesday, June 10th. BTIG Research boosted their target price on shares of Atlanticus from $105.00 to $179.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, B. Riley Financial reissued a “buy” rating on shares of Atlanticus in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $119.75.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Range Financial Group LLC lifted its stake in shares of Atlanticus by 5.8% during the 1st quarter. Range Financial Group LLC now owns 4,526 shares of the credit services provider’s stock worth $237,000 after purchasing an additional 247 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Atlanticus by 5.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,194 shares of the credit services provider’s stock worth $616,000 after purchasing an additional 478 shares during the last quarter. Jump Financial LLC grew its position in shares of Atlanticus by 6.1% in the second quarter. Jump Financial LLC now owns 9,344 shares of the credit services provider’s stock valued at $512,000 after purchasing an additional 537 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Atlanticus by 9.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 7,783 shares of the credit services provider’s stock valued at $521,000 after purchasing an additional 681 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in shares of Atlanticus in the third quarter valued at $47,000. 14.15% of the stock is currently owned by institutional investors and hedge funds.

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.