Frank Hanna III Sells 1,005 Shares of Atlanticus (NASDAQ:ATLC) Stock

Atlanticus Holdings Corporation (NASDAQ:ATLC) major shareholder Frank Hanna III sold 1,005 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $105.00, for a total value of $105,525.00. Following the completion of the transaction, the insider owned 283,387 shares in the company, valued at approximately $29,755,635. This represents a 0.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Atlanticus Stock Performance

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. The company’s fifty day moving average price is $87.29 and its two-hundred day moving average price is $68.95. Atlanticus Holdings Corporation has a 1-year low of $45.74 and a 1-year high of $112.61. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 14.39 and a beta of 2.11.

Atlanticus (NASDAQ:ATLC) last issued 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. The firm had revenue of $679.59 million during the quarter, compared to analysts’ expectations of $749.36 million. Atlanticus had a net margin of 5.86% and a return on equity of 23.43%. On average, analysts expect that Atlanticus Holdings Corporation will post 9.48 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on ATLC. Wall Street Zen lowered Atlanticus from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 27th. Citizens Jmp lifted their target price on Atlanticus from $100.00 to $102.00 and gave the company a “market outperform” rating in a research report on Tuesday, March 17th. Texas Capital raised Atlanticus to a “hold” rating in a research report on Wednesday, June 10th. B. Riley Financial reiterated a “buy” rating on shares of Atlanticus in a report on Thursday, May 14th. Finally, Weiss Ratings raised Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.75.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC bought a new stake in Atlanticus during the third quarter valued at $47,000. Jones Financial Companies Lllp bought a new position in Atlanticus in the 1st quarter worth about $71,000. Inspire Investing LLC bought a new position in Atlanticus in the 1st quarter worth about $87,000. BNP Paribas Financial Markets raised its holdings in shares of Atlanticus by 334.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,735 shares of the credit services provider’s stock valued at $95,000 after acquiring an additional 1,336 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Atlanticus in the 4th quarter valued at about $105,000. Institutional investors own 14.15% of the company’s stock.

About Atlanticus

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.