Atlanticus (NASDAQ:ATLC) Major Shareholder Sells $1,634,379.76 in Stock

Atlanticus Holdings Corporation (NASDAQ:ATLC) major shareholder Frank Hanna III sold 15,676 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $104.26, for a total transaction of $1,634,379.76. Following the sale, the insider directly owned 259,392 shares of the company’s stock, valued at $27,044,209.92. This represents a 5.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 Price Performance

Atlanticus stock opened at $96.40 on Friday. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 14.39 and a beta of 2.11. Atlanticus Holdings Corporation has a 52-week low of $45.74 and a 52-week high of $112.61. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a 50 day moving average price of $87.72 and a two-hundred day moving average price of $69.15.

Atlanticus (NASDAQ:ATLC) last posted its quarterly earnings data on Thursday, May 7th. The credit services provider reported $2.23 EPS 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 for the quarter, compared to analyst estimates of $749.36 million. Equities analysts predict that Atlanticus Holdings Corporation will post 9.48 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ATLC. Weiss Ratings upgraded Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. William Blair set a $100.00 price objective on Atlanticus in a research report on Wednesday, June 10th. Texas Capital raised Atlanticus to a “hold” rating in a research note on Wednesday, June 10th. B. Riley Financial restated a “buy” rating on shares of Atlanticus in a research report on Thursday, May 14th. Finally, Wall Street Zen cut Atlanticus from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 27th. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $119.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ATLC. Range Financial Group LLC grew its holdings in Atlanticus by 5.8% in the first quarter. Range Financial Group LLC now owns 4,526 shares of the credit services provider’s stock worth $237,000 after purchasing an additional 247 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Atlanticus by 5.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,194 shares of the credit services provider’s stock valued at $616,000 after purchasing an additional 478 shares in the last quarter. Jump Financial LLC raised its holdings in shares of Atlanticus by 6.1% during the second quarter. Jump Financial LLC now owns 9,344 shares of the credit services provider’s stock valued at $512,000 after purchasing an additional 537 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Atlanticus by 9.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 7,783 shares of the credit services provider’s stock valued at $521,000 after purchasing an additional 681 shares during the period. Finally, Advisory Services Network LLC acquired a new position in shares of Atlanticus during the third quarter valued at about $47,000. 14.15% of the stock is owned by institutional investors.

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.