Renaissance Technologies LLC Sells 12,400 Shares of Atlanticus Holdings Corporation $ATLC

Renaissance Technologies LLC cut its holdings in shares of Atlanticus Holdings Corporation (NASDAQ:ATLC) by 9.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,558 shares of the credit services provider’s stock after selling 12,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Atlanticus were worth $6,063,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ATLC. HB Wealth Management LLC grew its position in Atlanticus by 1,761.6% during the first quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider’s stock valued at $6,233,000 after buying an additional 112,407 shares during the period. Denali Advisors LLC raised its position in Atlanticus by 83.8% in the fourth 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 raised its position in 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 worth $2,093,000 after acquiring an additional 6,970 shares during the period. UBS Group AG boosted its stake in Atlanticus by 333.2% in the fourth quarter. UBS Group AG now owns 37,582 shares of the credit services provider’s stock valued at $2,516,000 after acquiring an additional 28,907 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Atlanticus during the 4th quarter valued at approximately $105,000. 14.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO William Mccamey sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer directly owned 127,410 shares of the company’s stock, valued at $13,124,504.10. This trade represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Frank J. Hanna III sold 15,676 shares of Atlanticus stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $104.26, for a total value of $1,634,379.76. Following the completion of the transaction, the insider owned 259,392 shares of the company’s stock, valued at approximately $27,044,209.92. This trade represents a 5.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 75,000 shares of company stock worth $7,868,627. Insiders own 51.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ATLC. William Blair set a $100.00 price target on shares of Atlanticus in a research note on Wednesday, June 10th. Zacks Research downgraded Atlanticus from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Wall Street Zen raised Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 5th. Citigroup reissued an “outperform” rating on shares of Atlanticus in a research report on Thursday, July 16th. Finally, BTIG Research upped their price target on Atlanticus from $105.00 to $179.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $126.00.

Atlanticus Stock Performance

NASDAQ ATLC opened at $110.32 on Wednesday. The company’s 50 day moving average is $96.80 and its 200-day moving average is $74.36. Atlanticus Holdings Corporation has a 12-month low of $47.50 and a 12-month high of $113.37. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.08. The firm has a market cap of $1.67 billion, a P/E ratio of 16.47 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 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.54. Atlanticus had a net margin of 5.86% and a return on equity of 23.43%. The company had revenue of $679.59 million for the quarter, compared to analysts’ expectations of $749.36 million. Sell-side analysts predict that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current year.

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.