Atlanticus (NASDAQ:ATLC) Stock Price Down 9.2% Following Insider Selling

Atlanticus Holdings Corporation (NASDAQ:ATLC)’s stock price traded down 9.2% during trading on Monday following insider selling activity. The stock traded as low as $99.63 and last traded at $100.2120. Approximately 47,232 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 88,271 shares. The stock had previously closed at $110.41.

Specifically, CFO William Mccamey sold 10,000 shares of Atlanticus stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $109.45, for a total transaction of $1,094,500.00. Following the completion of the transaction, the chief financial officer directly owned 137,410 shares in the company, valued at approximately $15,039,524.50. This trade represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey A. Howard sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $109.45, for a total value of $1,094,500.00. Following the completion of the sale, the chief executive officer owned 673,265 shares in the company, valued at $73,688,854.25. The trade was a 1.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ATLC. B. Riley Financial reiterated a “buy” rating on shares of Atlanticus in a research note on Thursday, May 14th. William Blair set a $100.00 target price on Atlanticus in a research note on Wednesday, June 10th. Weiss Ratings upgraded Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Texas Capital raised Atlanticus to a “hold” rating in a research report on Wednesday, June 10th. Finally, Wall Street Zen cut shares of Atlanticus from a “strong-buy” rating to a “buy” rating in a research note on Saturday. 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $101.25.

Atlanticus Stock Down 9.8%

The company has a market cap of $1.51 billion, a P/E ratio of 14.75 and a beta of 2.14. The company’s 50-day moving average is $84.81 and its two-hundred day moving average is $67.91. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.24 and a quick ratio of 1.24.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings data on Thursday, May 7th. The credit services provider reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.54. Atlanticus had a return on equity of 23.43% and a net margin of 5.86%.The business had revenue of $679.59 million for the quarter, compared to analysts’ expectations of $749.36 million. As a group, equities analysts predict that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ATLC. Advisory Services Network LLC bought a new position in shares of Atlanticus during the third quarter valued at $47,000. Jones Financial Companies Lllp purchased a new stake in shares of Atlanticus during the first quarter valued at $71,000. Inspire Investing LLC bought a new stake in Atlanticus in the 1st quarter worth about $87,000. BNP Paribas Financial Markets increased its holdings 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 worth $95,000 after buying an additional 1,336 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in Atlanticus in the 4th quarter worth about $105,000. Hedge funds and other institutional investors own 14.15% of the company’s stock.

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.