Atlanticus (NASDAQ:ATLC) CEO Sells $1,030,100.00 in Stock

Atlanticus Holdings Corporation (NASDAQ:ATLC) CEO Jeffrey Howard sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $103.01, for a total transaction of $1,030,100.00. Following the completion of the sale, the chief executive officer directly owned 663,265 shares in the company, valued at $68,322,927.65. This represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Atlanticus Trading Down 7.1%

ATLC stock traded down $7.35 on Thursday, hitting $96.40. 205,124 shares of the company were exchanged, compared to its average volume of 182,330. Atlanticus Holdings Corporation has a twelve month low of $45.74 and a twelve month 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 business’s fifty day moving average is $87.29 and its two-hundred day moving average is $68.95. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 14.39 and a beta of 2.11.

Atlanticus (NASDAQ:ATLC) last announced its quarterly 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. The company had revenue of $679.59 million for the quarter, compared to analyst estimates of $749.36 million. Atlanticus had a net margin of 5.86% and a return on equity of 23.43%. As a group, research analysts forecast that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current year.

Institutional Investors Weigh In On Atlanticus

Institutional investors and hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC acquired a new stake in shares of Atlanticus in the third quarter valued at about $47,000. Jones Financial Companies Lllp acquired a new position in Atlanticus during the 1st quarter worth approximately $71,000. State of Alaska Department of Revenue purchased a new position in Atlanticus in the 4th quarter worth approximately $105,000. Inspire Investing LLC purchased a new position in Atlanticus in the 1st quarter worth approximately $87,000. Finally, BNP Paribas Financial Markets grew its position in Atlanticus by 334.8% in the second quarter. BNP Paribas Financial Markets now owns 1,735 shares of the credit services provider’s stock valued at $95,000 after acquiring an additional 1,336 shares in the last quarter. Hedge funds and other institutional investors own 14.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. B. Riley Financial reiterated a “buy” rating on shares of Atlanticus in a report on Thursday, May 14th. 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 note on Tuesday, March 17th. Texas Capital upgraded Atlanticus to a “hold” rating in a report on Wednesday, June 10th. Zacks Research raised shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. Finally, Weiss Ratings upgraded shares of Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. 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 MarketBeat.com, the stock 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.