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

Atlanticus Holdings Corporation (NASDAQ:ATLC) CEO Jeffrey Howard sold 10,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer directly owned 663,265 shares of the company’s stock, valued at approximately $68,322,927.65. The trade was a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Atlanticus Stock Down 7.1%

Atlanticus stock traded down $7.35 during midday trading on Thursday, hitting $96.40. 205,124 shares of the stock were exchanged, compared to its average volume of 182,330. Atlanticus Holdings Corporation has a 1 year low of $45.74 and a 1 year high of $112.61. 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 firm has a market cap of $1.46 billion, a P/E ratio of 14.39 and a beta of 2.11. The company has a 50 day moving average price of $87.29 and a two-hundred day moving average price of $68.95.

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. Atlanticus had a net margin of 5.86% and a return on equity of 23.43%. The company had revenue of $679.59 million during the quarter, compared to analysts’ expectations of $749.36 million. On average, sell-side analysts predict that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ATLC has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Atlanticus from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 27th. William Blair set a $100.00 price objective on Atlanticus in a research note on Wednesday, June 10th. B. Riley Financial reiterated a “buy” rating on shares of Atlanticus in a research note on Thursday, May 14th. Weiss Ratings upgraded shares of Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Finally, Citizens Jmp boosted their price objective on shares of Atlanticus from $100.00 to $102.00 and gave the company a “market outperform” rating in a research report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $119.75.

Institutional Investors Weigh In On Atlanticus

A number of hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP grew its holdings in Atlanticus by 54.7% in the 4th quarter. Wellington Management Group LLP now owns 704,282 shares of the credit services provider’s stock worth $47,152,000 after buying an additional 249,100 shares in the last quarter. Vanguard Group Inc. boosted its position in Atlanticus by 6.7% during the 3rd quarter. Vanguard Group Inc. now owns 305,772 shares of the credit services provider’s stock worth $17,912,000 after acquiring an additional 19,159 shares during the period. HB Wealth Management LLC grew its stake in shares of Atlanticus by 1,761.6% in the first quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider’s stock worth $6,233,000 after purchasing an additional 112,407 shares in the last quarter. State Street Corp increased its holdings in shares of Atlanticus by 9.8% during the fourth quarter. State Street Corp now owns 117,071 shares of the credit services provider’s stock valued at $7,838,000 after purchasing an additional 10,409 shares during the period. Finally, Bridgeway Capital Management LLC raised its stake in shares of Atlanticus by 0.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 112,147 shares of the credit services provider’s stock valued at $7,508,000 after purchasing an additional 805 shares in the last quarter. Institutional investors own 14.15% of the company’s stock.

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.