Frank Hanna III Sells 8,319 Shares of Atlanticus (NASDAQ:ATLC) Stock

Atlanticus Holdings Corporation (NASDAQ:ATLC) major shareholder Frank Hanna III sold 8,319 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $103.08, for a total transaction of $857,522.52. Following the transaction, the insider owned 275,068 shares in the company, valued at approximately $28,354,009.44. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Atlanticus Trading Down 7.1%

NASDAQ ATLC opened at $96.40 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.08. Atlanticus Holdings Corporation has a 1-year low of $45.74 and a 1-year high of $112.61. The firm’s fifty day simple moving average is $87.29 and its 200-day simple moving average is $68.95. The company has a market capitalization of $1.46 billion, a PE ratio of 14.39 and a beta of 2.11.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings data on Thursday, May 7th. The credit services provider reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.54. Atlanticus had a return on equity of 23.43% and a net margin of 5.86%.The firm had revenue of $679.59 million during the quarter, compared to analysts’ expectations of $749.36 million. As a group, sell-side analysts anticipate that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current fiscal year.

Institutional Trading of Atlanticus

Several large investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings in shares of Atlanticus by 18.1% during the 1st quarter. Bank of America Corp DE now owns 6,280 shares of the credit services provider’s stock valued at $330,000 after acquiring an additional 963 shares during the last quarter. Empowered Funds LLC lifted its holdings in Atlanticus by 7.0% in the 1st quarter. Empowered Funds LLC now owns 69,309 shares of the credit services provider’s stock worth $3,637,000 after purchasing an additional 4,556 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Atlanticus by 11.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,701 shares of the credit services provider’s stock worth $471,000 after purchasing an additional 918 shares during the last quarter. Range Financial Group LLC boosted its position in Atlanticus by 5.8% during 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. Finally, HB Wealth Management LLC boosted its position in Atlanticus by 1,761.6% during the first quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider’s stock worth $6,233,000 after purchasing an additional 112,407 shares during the period. Institutional investors own 14.15% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on ATLC. Weiss Ratings raised Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Texas Capital upgraded shares of Atlanticus to a “hold” rating in a research note on Wednesday, June 10th. Zacks Research raised shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. Citizens Jmp boosted their target price on shares of Atlanticus from $100.00 to $102.00 and gave the stock a “market outperform” rating in a research report on Tuesday, March 17th. Finally, Wall Street Zen lowered shares of Atlanticus from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.