Atlanticus (NASDAQ:ATLC) Major Shareholder Frank Hanna III Sells 15,676 Shares of Stock

Atlanticus Holdings Corporation (NASDAQ:ATLC) major shareholder Frank Hanna III sold 15,676 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $104.26, for a total transaction of $1,634,379.76. Following the sale, the insider owned 259,392 shares of the company’s stock, valued at $27,044,209.92. This represents a 5.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Atlanticus Trading Up 1.5%

NASDAQ ATLC opened at $103.75 on Thursday. The firm’s fifty day moving average price is $86.80 and its 200 day moving average price is $68.74. Atlanticus Holdings Corporation has a 12 month low of $45.74 and a 12 month high of $112.61. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 15.49 and a beta of 2.11.

Atlanticus (NASDAQ:ATLC) last announced 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. 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, sell-side analysts expect that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current fiscal year.

Institutional Trading of Atlanticus

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Denali Advisors LLC lifted its position in Atlanticus by 83.8% during the 4th quarter. Denali Advisors LLC now owns 15,222 shares of the credit services provider’s stock worth $1,019,000 after acquiring an additional 6,941 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of Atlanticus by 28.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 31,265 shares of the credit services provider’s stock valued at $2,093,000 after purchasing an additional 6,970 shares during the period. UBS Group AG raised its stake in shares of Atlanticus by 333.2% during the fourth quarter. UBS Group AG now owns 37,582 shares of the credit services provider’s stock worth $2,516,000 after purchasing an additional 28,907 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Atlanticus by 7.0% during the first 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. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Atlanticus by 11.8% during the first 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 period. 14.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ATLC. Wall Street Zen downgraded Atlanticus from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 27th. William Blair set a $100.00 price objective on Atlanticus in a report on Wednesday, June 10th. Weiss Ratings upgraded shares of Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. BTIG Research lifted their target price on shares of Atlanticus from $105.00 to $179.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Zacks Research upgraded shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Atlanticus 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.