Atlanticus Holdings Corporation $ATLC Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its stake in Atlanticus Holdings Corporation (NASDAQ:ATLC) by 30.8% in the second quarter, Holdings Channel reports. The fund owned 522,642 shares of the credit services provider’s stock after selling 232,316 shares during the quarter. Wellington Management Group LLP’s holdings in Atlanticus were worth $53,440,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Atlanticus during the second quarter valued at approximately $43,535,000. HB Wealth Management LLC grew its holdings in Atlanticus by 1,761.6% during the 1st quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider’s stock valued at $6,233,000 after purchasing an additional 112,407 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new stake in Atlanticus during the 2nd quarter worth $9,161,293. Empowered Funds LLC acquired a new position in Atlanticus in the 2nd quarter worth $7,286,000. Finally, Bridgeway Capital Management LLC boosted its position in Atlanticus by 133.5% in the 2nd quarter. Bridgeway Capital Management LLC now owns 93,234 shares of the credit services provider’s stock valued at $5,105,000 after buying an additional 53,312 shares during the last quarter. Institutional investors and hedge funds own 14.15% of the company’s stock.

Insider Buying and Selling

In other news, CEO Jeffrey Howard sold 10,000 shares of the company’s 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 transaction, the chief executive officer directly owned 663,265 shares of the company’s stock, valued at approximately $68,322,927.65. This represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William McCamey sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $103.01, for a total value of $1,030,100.00. Following the completion of the sale, the chief financial officer directly owned 127,410 shares in the company, valued at approximately $13,124,504.10. This trade represents a 7.28% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 75,000 shares of company stock valued at $7,868,627. 51.00% of the stock is currently owned by insiders.

Atlanticus Stock Performance

ATLC stock opened at $96.71 on Friday. The firm has a market cap of $1.47 billion, a P/E ratio of 12.58 and a beta of 2.02. The stock’s 50 day simple moving average is $99.11 and its 200 day simple moving average is $80.77. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.99. Atlanticus Holdings Corporation has a 12-month low of $47.50 and a 12-month high of $114.34.

Atlanticus (NASDAQ:ATLC) last issued its earnings results on Thursday, August 6th. The credit services provider reported $2.50 earnings per share 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 company had revenue of $744.31 million for the quarter, compared to analysts’ expectations of $716.35 million. As a group, equities research analysts predict that Atlanticus Holdings Corporation will post 9.48 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wall Street Zen upgraded Atlanticus from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. Capital One Financial set a $144.00 target price on Atlanticus in a research report on Monday, July 13th. Weiss Ratings raised shares of Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Texas Capital raised shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Finally, BTIG Research raised their price objective on shares of Atlanticus from $105.00 to $179.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $129.00.

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.