Insider Selling: Atlanticus (NASDAQ:ATLC) Major Shareholder Sells 8,319 Shares

Atlanticus Holdings Corporation (NASDAQ:ATLC) major shareholder Frank Hanna III sold 8,319 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $103.08, for a total value of $857,522.52. Following the transaction, the insider owned 275,068 shares of the company’s stock, valued at $28,354,009.44. This trade represents a 2.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Atlanticus Trading Up 1.5%

Shares of NASDAQ ATLC traded up $1.50 during midday trading on Wednesday, hitting $103.75. The company’s stock had a trading volume of 242,344 shares, compared to its average volume of 178,765. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.08. The business’s 50 day moving average is $86.80 and its two-hundred day moving average is $68.74. Atlanticus Holdings Corporation has a 12-month low of $45.74 and a 12-month high of $112.61. The firm has a market cap of $1.57 billion, a P/E ratio of 15.49 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 (EPS) 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 company had revenue of $679.59 million during the quarter, compared to analysts’ expectations of $749.36 million. As a group, equities research analysts expect that Atlanticus Holdings Corporation will post 9.48 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ATLC. B. Riley Financial reissued a “buy” rating on shares of Atlanticus in a research report on Thursday, May 14th. Wall Street Zen downgraded shares of Atlanticus from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Texas Capital upgraded Atlanticus to a “hold” rating in a report on Wednesday, June 10th. BTIG Research boosted their price target on Atlanticus from $105.00 to $179.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Citizens Jmp increased their price objective on Atlanticus from $100.00 to $102.00 and gave the stock a “market outperform” rating in a research note on Tuesday, March 17th. 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $119.75.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its holdings in Atlanticus by 54.7% in 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 in the last quarter. HB Wealth Management LLC lifted its position in Atlanticus by 1,761.6% during the first quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider’s stock valued at $6,233,000 after acquiring an additional 112,407 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in Atlanticus by 133.5% in the second quarter. Bridgeway Capital Management LLC now owns 93,234 shares of the credit services provider’s stock valued at $5,105,000 after acquiring an additional 53,312 shares in the last quarter. UBS Group AG boosted its position in shares of Atlanticus by 333.2% in the 4th quarter. UBS Group AG now owns 37,582 shares of the credit services provider’s stock worth $2,516,000 after purchasing an additional 28,907 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in Atlanticus in the first quarter valued at about $1,083,000. 14.15% of the stock is owned by institutional investors.

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.