Atlanticus (NASDAQ:ATLC) Trading 6.6% Higher – What’s Next?
by Michael Walen · The Markets DailyAtlanticus Holdings Corporation (NASDAQ:ATLC – Get Free Report) shares traded up 6.6% on Friday . The stock traded as high as $101.69 and last traded at $101.8950. 71,073 shares were traded during trading, a decline of 30% from the average session volume of 101,353 shares. The stock had previously closed at $95.62.
Wall Street Analyst Weigh In
ATLC has been the topic of several recent analyst reports. B. Riley Financial reissued a “buy” rating on shares of Atlanticus in a report on Thursday, May 14th. BTIG Research increased their price target on shares of Atlanticus from $105.00 to $179.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Weiss Ratings raised shares of Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. William Blair set a $100.00 target price on Atlanticus in a research note on Wednesday, June 10th. Finally, Wall Street Zen raised Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 5th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Atlanticus has a consensus rating of “Moderate Buy” and a consensus price target of $126.00.
Read Our Latest Stock Analysis on Atlanticus
Atlanticus Price Performance
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 stock has a market cap of $1.51 billion, a price-to-earnings ratio of 14.99 and a beta of 2.11. The business’s 50-day simple moving average is $92.99 and its two-hundred day simple moving average is $72.05.
Atlanticus (NASDAQ:ATLC – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The credit services provider reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $749.36 million. Research analysts expect that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current year.
Insider Buying and Selling
In other news, CEO Jeffrey A. Howard sold 10,000 shares of Atlanticus stock in a transaction dated 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 executive officer directly owned 663,265 shares of the company’s stock, valued at approximately $68,322,927.65. This trade represents a 1.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Frank J. Hanna III sold 15,676 shares of the business’s stock in a transaction that occurred 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 directly owned 259,392 shares in the company, valued at approximately $27,044,209.92. This trade represents a 5.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 75,000 shares of company stock valued at $7,868,627 over the last three months. 51.00% of the stock is owned by insiders.
Institutional Trading of Atlanticus
Several hedge funds have recently modified their holdings of ATLC. Financial Management Professionals Inc. acquired a new position in shares of Atlanticus during the 2nd quarter valued at $33,000. Advisory Services Network LLC bought a new position in shares of Atlanticus during the 3rd quarter worth about $47,000. Jones Financial Companies Lllp bought a new position in shares of Atlanticus during the 1st quarter worth about $71,000. Inspire Investing LLC acquired a new stake in shares of Atlanticus in the 1st quarter valued at about $87,000. Finally, BNP Paribas Financial Markets increased its position in 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 buying an additional 1,336 shares in the last quarter. 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.