Empowered Funds LLC Invests $7.29 Million in Atlanticus Holdings Corporation $ATLC

Empowered Funds LLC purchased a new stake in shares of Atlanticus Holdings Corporation (NASDAQ:ATLC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 71,255 shares of the credit services provider’s stock, valued at approximately $7,286,000.

Other large investors have also recently modified their holdings of the company. Financial Management Professionals Inc. bought a new position in Atlanticus in the 2nd quarter worth about $33,000. Advisory Services Network LLC bought a new stake in Atlanticus during the 3rd quarter valued at about $47,000. Jones Financial Companies Lllp bought a new stake in Atlanticus during the 1st quarter valued at about $71,000. Inspire Investing LLC purchased a new position in Atlanticus in the first quarter worth about $87,000. Finally, BNP Paribas Financial Markets raised its holdings 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 worth $95,000 after buying an additional 1,336 shares during the last quarter. Hedge funds and other institutional investors own 14.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ATLC. Zacks Research downgraded shares of Atlanticus from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Wall Street Zen raised shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Jefferies Financial Group boosted their price objective on shares of Atlanticus from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. HSBC set a $144.00 price objective on Atlanticus in a research report on Monday, July 13th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Atlanticus in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $126.00.

Atlanticus Price Performance

ATLC opened at $91.08 on Monday. The company’s 50-day simple moving average is $99.97 and its two-hundred day simple moving average is $79.70. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market capitalization of $1.38 billion, a P/E ratio of 11.84 and a beta of 2.11. Atlanticus Holdings Corporation has a 52-week low of $47.50 and a 52-week high of $114.34.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings results on Thursday, August 6th. The credit services provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.08. Atlanticus had a net margin of 5.80% and a return on equity of 25.17%. The firm had revenue of $744.31 million during the quarter, compared to analyst estimates of $716.35 million. As a group, analysts predict that Atlanticus Holdings Corporation will post 9.48 EPS for the current year.

Insider Activity at Atlanticus

In related news, CAO Mitchell Saunders sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $102.20, for a total value of $1,022,000.00. Following the sale, the chief accounting officer owned 46,273 shares in the company, valued at approximately $4,729,100.60. This trade represents a 17.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO William Mccamey sold 10,000 shares of Atlanticus 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 financial officer directly owned 127,410 shares of the company’s stock, valued at approximately $13,124,504.10. This trade represents a 7.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 75,000 shares of company stock worth $7,868,627 in the last three months. 51.00% of the stock is currently owned by company insiders.

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.