Atlanticus (NASDAQ:ATLC) Major Shareholder Sells $857,522.52 in Stock

Atlanticus Holdings Corporation (NASDAQ:ATLC) major shareholder Frank Hanna III sold 8,319 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $103.08, for a total transaction of $857,522.52. Following the sale, the insider directly owned 275,068 shares in the company, valued at $28,354,009.44. This represents a 2.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Atlanticus Stock Performance

Shares of ATLC stock opened at $96.40 on Friday. 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 market capitalization of $1.46 billion, a P/E ratio of 14.39 and a beta of 2.11. The company has a 50 day moving average price of $87.72 and a 200 day moving average price of $69.15. Atlanticus Holdings Corporation has a fifty-two week low of $45.74 and a fifty-two week high of $112.61.

Atlanticus (NASDAQ:ATLC) last announced its 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 firm had revenue of $679.59 million for the quarter, compared to the consensus estimate of $749.36 million. Atlanticus had a net margin of 5.86% and a return on equity of 23.43%. Equities research analysts predict that Atlanticus Holdings Corporation will post 9.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlanticus

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisory Services Network LLC purchased a new stake in shares of Atlanticus during the 3rd quarter worth $47,000. Jones Financial Companies Lllp acquired a new position in shares of Atlanticus during the first quarter worth $71,000. Inspire Investing LLC purchased a new position in Atlanticus in the first quarter valued at $87,000. BNP Paribas Financial Markets increased its holdings in Atlanticus by 334.8% in 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 acquired a new stake in Atlanticus in the fourth quarter valued at $105,000. 14.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ATLC has been the topic of several analyst reports. Texas Capital upgraded Atlanticus to a “hold” rating in a research note on Wednesday, June 10th. Wall Street Zen cut Atlanticus from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 27th. Citizens Jmp upped their price target on Atlanticus from $100.00 to $102.00 and gave the stock a “market outperform” rating in a report on Tuesday, March 17th. BTIG Research increased their price target on Atlanticus from $105.00 to $179.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, B. Riley Financial reiterated a “buy” rating on shares of Atlanticus in a research note on Thursday, May 14th. One investment 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 company’s stock. According to MarketBeat, the stock currently 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.