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 company’s stock in a transaction dated 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. The trade was a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 Stock Performance

Shares of NASDAQ ATLC opened at $96.40 on Friday. Atlanticus Holdings Corporation has a 12-month low of $45.74 and a 12-month high of $112.61. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 14.39 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 50 day moving average of $87.29 and a 200 day moving average of $68.95.

Atlanticus (NASDAQ:ATLC) last issued its quarterly earnings results on Thursday, May 7th. The credit services provider reported $2.23 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.54. The business had revenue of $679.59 million for the quarter, compared to analysts’ expectations of $749.36 million. Atlanticus had a net margin of 5.86% and a return on equity of 23.43%. On average, research analysts anticipate that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current year.

Institutional Trading of Atlanticus

Institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC purchased a new position in Atlanticus in the 3rd quarter worth approximately $47,000. Jones Financial Companies Lllp purchased a new stake in Atlanticus during the 1st quarter valued at approximately $71,000. Inspire Investing LLC bought a new stake in shares of Atlanticus during the first quarter valued at approximately $87,000. BNP Paribas Financial Markets raised its position in shares of Atlanticus by 334.8% during the second quarter. BNP Paribas Financial Markets now owns 1,735 shares of the credit services provider’s stock valued at $95,000 after buying an additional 1,336 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in shares of Atlanticus in the fourth quarter worth $105,000. Hedge funds and other institutional investors own 14.15% of the company’s stock.

Analyst Ratings Changes

ATLC has been the topic of a number of analyst reports. B. Riley Financial reaffirmed a “buy” rating on shares of Atlanticus in a research report on Thursday, May 14th. BTIG Research upped their price target on shares of Atlanticus from $105.00 to $179.00 and gave the stock a “buy” rating in a research report on Tuesday. Wall Street Zen cut shares of Atlanticus from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 27th. William Blair set a $100.00 price objective on shares of Atlanticus in a research report on Wednesday, June 10th. Finally, Texas Capital upgraded shares of Atlanticus to a “hold” rating in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.