HB Wealth Management LLC Has $6.23 Million Stake in Atlanticus Holdings Corporation $ATLC

HB Wealth Management LLC lifted its stake in Atlanticus Holdings Corporation (NASDAQ:ATLC) by 1,761.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 118,788 shares of the credit services provider’s stock after purchasing an additional 112,407 shares during the quarter. HB Wealth Management LLC owned 0.80% of Atlanticus worth $6,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Royal Bank of Canada increased its stake in Atlanticus by 274.6% in the 1st 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 acquired a new stake in shares of Atlanticus during the 1st quarter valued at $1,083,000. Jones Financial Companies Lllp acquired a new stake in shares of Atlanticus during the 1st quarter valued at $71,000. Empowered Funds LLC grew its holdings in shares of Atlanticus by 47.3% during the 1st quarter. Empowered Funds LLC now owns 38,312 shares of the credit services provider’s stock valued at $1,960,000 after acquiring an additional 12,308 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Atlanticus by 241.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 18,039 shares of the credit services provider’s stock valued at $988,000 after acquiring an additional 12,751 shares in the last quarter. 14.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Atlanticus

In other Atlanticus news, CAO Mitchell Saunders sold 10,000 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $102.20, for a total transaction of $1,022,000.00. Following the transaction, the chief accounting officer directly owned 46,273 shares of the company’s stock, valued at $4,729,100.60. This represents a 17.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey A. Howard sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $103.01, for a total value of $1,030,100.00. Following the transaction, the chief executive officer owned 663,265 shares in the company, valued at approximately $68,322,927.65. This trade represents a 1.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 75,000 shares of company stock valued at $7,868,627. Corporate insiders own 51.00% of the company’s stock.

Atlanticus Stock Performance

ATLC stock opened at $96.40 on Friday. The firm has a 50 day moving average of $87.72 and a two-hundred day moving average of $69.15. Atlanticus Holdings Corporation has a 12 month low of $45.74 and a 12 month high of $112.61. The company 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 quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.08.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ATLC. Wall Street Zen raised shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research note on Sunday. BTIG Research lifted their price objective on Atlanticus from $105.00 to $179.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Citizens Jmp boosted their target price on Atlanticus from $100.00 to $102.00 and gave the company a “market outperform” rating in a research note on Tuesday, March 17th. Weiss Ratings raised Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Finally, Zacks Research raised Atlanticus from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 20th. One 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $119.75.

Atlanticus 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.