Jeffrey Howard Sells 10,000 Shares of Atlanticus (NASDAQ:ATLC) Stock

Atlanticus Holdings Corporation (NASDAQ:ATLC) CEO Jeffrey Howard sold 10,000 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $109.45, for a total value of $1,094,500.00. Following the completion of the transaction, the chief executive officer directly owned 673,265 shares in the company, valued at $73,688,854.25. This represents a 1.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Atlanticus Price Performance

Shares of NASDAQ:ATLC opened at $110.46 on Friday. The company has a market capitalization of $1.67 billion, a PE ratio of 16.49 and a beta of 2.14. 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 stock has a fifty day moving average of $84.81 and a 200-day moving average of $67.84. Atlanticus Holdings Corporation has a one year low of $45.74 and a one year high of $112.61.

Atlanticus (NASDAQ:ATLC) last issued its earnings results on Thursday, May 7th. The credit services provider reported $2.23 earnings per share (EPS) 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 analysts’ expectations of $749.36 million. Atlanticus had a return on equity of 23.43% and a net margin of 5.86%. As a group, equities analysts anticipate that Atlanticus Holdings Corporation will post 9.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ATLC. Weiss Ratings upgraded Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Texas Capital raised shares of Atlanticus to a “hold” rating in a research note on Wednesday, June 10th. Wall Street Zen downgraded shares of Atlanticus from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Zacks Research upgraded shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Finally, Citizens Jmp upped their price target on shares of Atlanticus from $100.00 to $102.00 and gave the company a “market outperform” rating in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Atlanticus has a consensus rating of “Moderate Buy” and an average price target of $101.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ATLC. Royal Bank of Canada raised its position in Atlanticus by 274.6% during the first quarter. Royal Bank of Canada now owns 23,314 shares of the credit services provider’s stock valued at $1,193,000 after buying an additional 17,091 shares during the period. AQR Capital Management LLC purchased a new position in Atlanticus during the 1st quarter valued at about $1,083,000. Jones Financial Companies Lllp purchased a new position in Atlanticus during the 1st quarter valued at about $71,000. Empowered Funds LLC increased its holdings in shares of Atlanticus by 47.3% in the 1st quarter. Empowered Funds LLC now owns 38,312 shares of the credit services provider’s stock valued at $1,960,000 after purchasing an additional 12,308 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Atlanticus by 241.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 18,039 shares of the credit services provider’s stock valued at $988,000 after purchasing an additional 12,751 shares during the period. Hedge funds and other 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.