Atlanticus (NASDAQ:ATLC) Major Shareholder Frank Hanna III Sells 8,319 Shares

Atlanticus Holdings Corporation (NASDAQ:ATLC) major shareholder Frank Hanna III sold 8,319 shares of the stock in a transaction 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 directly owned 275,068 shares in the company, valued at $28,354,009.44. The trade was a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Atlanticus Stock Performance

Shares of ATLC traded up $1.50 during trading hours on Wednesday, hitting $103.75. The stock had a trading volume of 242,344 shares, compared to its average volume of 178,765. The firm has a market capitalization of $1.57 billion, a PE ratio of 15.49 and a beta of 2.11. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.24 and a quick ratio of 1.24. Atlanticus Holdings Corporation has a 12 month low of $45.74 and a 12 month high of $112.61. The stock has a fifty day moving average price of $86.80 and a 200 day moving average price of $68.74.

Atlanticus (NASDAQ:ATLC) last posted 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 return on equity of 23.43% and a net margin of 5.86%.The company had revenue of $679.59 million for the quarter, compared to the consensus estimate of $749.36 million. Analysts anticipate that Atlanticus Holdings Corporation will post 9.48 EPS for the current year.

Institutional Investors Weigh In On Atlanticus

Large investors have recently bought and sold shares of the business. Denali Advisors LLC raised its stake in Atlanticus by 83.8% during the fourth quarter. Denali Advisors LLC now owns 15,222 shares of the credit services provider’s stock valued at $1,019,000 after purchasing an additional 6,941 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Atlanticus by 28.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 31,265 shares of the credit services provider’s stock worth $2,093,000 after purchasing an additional 6,970 shares during the period. UBS Group AG boosted its holdings 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 during the period. Allspring Global Investments Holdings LLC increased its position in shares of Atlanticus by 11.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,701 shares of the credit services provider’s stock valued at $471,000 after purchasing an additional 918 shares during the last quarter. Finally, Range Financial Group LLC increased its position 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 valued at $237,000 after purchasing an additional 247 shares during the last quarter. Institutional investors own 14.15% of the company’s stock.

Analyst Upgrades and Downgrades

ATLC has been the topic of a number of analyst reports. Citizens Jmp lifted their price objective on Atlanticus from $100.00 to $102.00 and gave the company a “market outperform” rating in a research report on Tuesday, March 17th. Wall Street Zen downgraded shares of Atlanticus from a “strong-buy” rating to a “buy” rating in a report on Saturday. B. Riley Financial reiterated a “buy” rating on shares of Atlanticus in a research note on Thursday, May 14th. BTIG Research raised their price target on Atlanticus from $105.00 to $179.00 and gave the company a “buy” rating in a report on Tuesday. Finally, William Blair set a $100.00 price objective on Atlanticus in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $119.75.

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.