Atlanticus (NASDAQ:ATLC) CEO Jeffrey Howard Sells 10,000 Shares

Atlanticus Holdings Corporation (NASDAQ:ATLC) CEO Jeffrey 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 sale, the chief executive officer owned 663,265 shares of the company’s stock, valued at approximately $68,322,927.65. This represents a 1.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Atlanticus Trading Down 7.1%

Shares of ATLC stock opened at $96.40 on Friday. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 14.39 and a beta of 2.11. 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 firm has a 50-day moving average price of $87.29 and a 200 day moving average price of $68.95. Atlanticus Holdings Corporation has a twelve month low of $45.74 and a twelve month high of $112.61.

Atlanticus (NASDAQ:ATLC) last released 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. The company had revenue of $679.59 million for 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%. Research analysts forecast that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ATLC shares. Texas Capital upgraded shares of Atlanticus to a “hold” rating in a research report 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. William Blair set a $100.00 price target on Atlanticus in a research note on Wednesday, June 10th. Wall Street Zen lowered Atlanticus from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 27th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Atlanticus in a research report on Thursday, May 14th. One equities 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $119.75.

Hedge Funds Weigh In On Atlanticus

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in 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 during the period. Empowered Funds LLC grew its stake in shares of Atlanticus by 7.0% during the 1st quarter. Empowered Funds LLC now owns 69,309 shares of the credit services provider’s stock valued at $3,637,000 after buying an additional 4,556 shares during the period. Allspring Global Investments Holdings LLC increased its holdings 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 buying an additional 918 shares during the last quarter. Range Financial Group LLC increased its holdings 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 buying an additional 247 shares during the last quarter. Finally, HB Wealth Management LLC raised its position in shares of Atlanticus by 1,761.6% in the 1st quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider’s stock worth $6,233,000 after buying an additional 112,407 shares during the period. Institutional investors and hedge funds 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.