Atlanticus (NASDAQ:ATLC) Sees Large Volume Increase – Time to Buy?

Atlanticus Holdings Corporation (NASDAQ:ATLC) shares saw unusually-strong trading volume on Thursday . 79,002 shares changed hands during trading, a decline of 21% from the previous session’s volume of 100,097 shares.The stock last traded at $92.83 and had previously closed at $95.17.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Weiss Ratings raised Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. B. Riley Financial reiterated a “buy” rating on shares of Atlanticus in a research report on Thursday, May 14th. Capital One Financial set a $144.00 price target on Atlanticus in a report on Monday, July 13th. Citigroup restated an “outperform” rating on shares of Atlanticus in a research report on Thursday, July 16th. Finally, Zacks Research lowered shares of Atlanticus from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Atlanticus presently has an average rating of “Moderate Buy” and an average target price of $126.00.

Atlanticus Price Performance

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 stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 14.07 and a beta of 2.11. The stock has a 50-day moving average price of $92.69 and a 200 day moving average price of $71.85.

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, topping analysts’ consensus estimates of $1.69 by $0.54. The company had revenue of $679.59 million during the quarter, compared to analysts’ expectations of $749.36 million. Atlanticus had a return on equity of 23.43% and a net margin of 5.86%. As a group, equities research analysts expect that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Frank J. Hanna III sold 15,676 shares of the 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 transaction, the insider owned 259,392 shares in the company, valued at $27,044,209.92. This trade represents a 5.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Mitchell Saunders sold 10,000 shares of Atlanticus 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 completion of the sale, the chief accounting officer directly owned 46,273 shares in the company, valued at $4,729,100.60. This represents a 17.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 75,000 shares of company stock valued at $7,868,627 over the last ninety days. 51.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atlanticus

A number of large investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. purchased a new position in Atlanticus during the second quarter valued at $33,000. Bank of America Corp DE increased its stake in shares of Atlanticus by 18.1% during the first quarter. Bank of America Corp DE now owns 6,280 shares of the credit services provider’s stock worth $330,000 after purchasing an additional 963 shares in the last quarter. Empowered Funds LLC increased 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 in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Atlanticus by 11.8% during the 1st 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 last quarter. Finally, Range Financial Group LLC raised its position in shares of Atlanticus by 5.8% during the 1st quarter. Range Financial Group LLC now owns 4,526 shares of the credit services provider’s stock worth $237,000 after purchasing an additional 247 shares during the last quarter. 14.15% of the stock is currently owned by institutional investors and hedge funds.

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.