Key Points
- Atlanticus major shareholder Frank Hanna III sold 8,319 shares on June 30 at an average price of $103.08, totaling about $857,523. After the sale, he still owned 275,068 shares worth roughly $28.35 million.
- Atlanticus stock has been strong recently, opening at $103.75 and trading near its 12-month high of $112.61. The company also has a market cap of $1.57 billion and a P/E ratio of 15.49.
- Analysts remain generally positive on ATLC, with a consensus rating of “Moderate Buy” and an average price target of $119.75. Recent reports included a mix of buy and hold calls, with one downgrade and one upgrade among the latest moves.
Atlanticus Holdings Corporation (NASDAQ:ATLC - Get Free Report) major shareholder Frank Hanna III sold 1,005 shares of Atlanticus stock in a transaction on 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 owned 283,387 shares in the company, valued at approximately $29,755,635. This trade represents a 0.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Atlanticus Stock Up 1.5%
Shares of Atlanticus stock opened at $103.75 on Thursday. 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 12-month low of $45.74 and a 12-month high of $112.61. The company has a market cap of $1.57 billion, a P/E ratio of 15.49 and a beta of 2.11. The company's fifty day simple moving average is $86.80 and its two-hundred day simple moving average is $68.74.
Atlanticus (NASDAQ:ATLC - Get Free Report) last announced its 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 net margin of 5.86% and a return on equity of 23.43%. The firm had revenue of $679.59 million for the quarter, compared to analyst estimates of $749.36 million. Research analysts anticipate that Atlanticus Holdings Corporation will post 9.48 EPS for the current year.
Institutional Investors Weigh In On Atlanticus
Hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP increased its stake 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 valued at $47,152,000 after purchasing an additional 249,100 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Atlanticus by 6.7% in the 3rd 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 in the last quarter. HB Wealth Management LLC boosted its position in shares of 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 purchasing an additional 112,407 shares in the last quarter. State Street Corp grew its stake in shares of 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 last quarter. Finally, Bridgeway Capital Management LLC grew its stake in shares of Atlanticus by 0.7% in the 4th quarter. Bridgeway Capital Management LLC now owns 112,147 shares of the credit services provider's stock worth $7,508,000 after buying an additional 805 shares during the last quarter. Hedge funds and other institutional investors own 14.15% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have weighed in on ATLC shares. Wall Street Zen downgraded Atlanticus from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 27th. Texas Capital upgraded Atlanticus to a "hold" rating in a research report on Wednesday, June 10th. BTIG Research upped their price target on Atlanticus from $105.00 to $179.00 and gave the stock a "buy" rating in a research note on Tuesday. Weiss Ratings upgraded Atlanticus from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, June 11th. 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 report on Tuesday, March 17th. One equities research 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $119.75.
View Our Latest Research Report on Atlanticus
Atlanticus Company Profile
(
Get Free Report)
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.
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