Frank Hanna III Sells 15,676 Shares of Atlanticus (NASDAQ:ATLC) Stock

Atlanticus Holdings Corporation (NASDAQ:ATLC) major shareholder Frank Hanna III sold 15,676 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $104.26, for a total value of $1,634,379.76. Following the completion of the transaction, the insider owned 259,392 shares of the company’s stock, valued at $27,044,209.92. The trade was a 5.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Atlanticus Stock Up 1.5%

Shares of NASDAQ:ATLC traded up $1.50 during trading on Wednesday, hitting $103.75. 242,344 shares of the company were exchanged, compared to its average volume of 178,765. Atlanticus Holdings Corporation has a fifty-two week low of $45.74 and a fifty-two week high of $112.61. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 15.49 and a beta of 2.11. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.08. The firm has a fifty day moving average price of $86.80 and a two-hundred day moving average price of $68.74.

Atlanticus (NASDAQ:ATLC) last issued its earnings results on Thursday, May 7th. The credit services provider reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.54. The business had revenue of $679.59 million for the quarter, compared to the consensus estimate 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 anticipate that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of Atlanticus

A number of institutional investors have recently bought and sold shares of the business. Advisory Services Network LLC bought a new position in shares of Atlanticus during the third quarter worth approximately $47,000. Jones Financial Companies Lllp acquired a new stake in Atlanticus during the first quarter worth approximately $71,000. Inspire Investing LLC bought a new position in Atlanticus during the 1st quarter worth $87,000. BNP Paribas Financial Markets raised its holdings in Atlanticus by 334.8% in the 2nd 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. Finally, State of Alaska Department of Revenue acquired a new position in Atlanticus in the 4th quarter valued at $105,000. Institutional investors own 14.15% of the company’s stock.

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.