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

Atlanticus Holdings Corporation (NASDAQ:ATLC) shares traded down 9.2% during trading on Monday after an insider sold shares in the company. The company 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 session volume of 88,271 shares. The stock had previously closed at $110.41.

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

Wall Street Analysts Forecast Growth

ATLC has been the subject of a number of recent analyst reports. Citizens Jmp upped their target price on Atlanticus from $100.00 to $102.00 and gave the company a “market outperform” rating in a report on Tuesday, March 17th. Texas Capital raised shares of Atlanticus to a “hold” rating in a research report on Wednesday, June 10th. Weiss Ratings raised shares of Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Wall Street Zen lowered shares of Atlanticus from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Zacks Research raised shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.25.

Atlanticus Price Performance

The stock has a market cap of $1.51 billion, a P/E ratio of 14.75 and a beta of 2.14. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a 50-day moving average price of $84.81 and a 200-day moving average price of $67.91.

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, beating the consensus estimate of $1.69 by $0.54. The company had revenue of $679.59 million for the quarter, compared to analyst estimates of $749.36 million. Atlanticus had a return on equity of 23.43% and a net margin of 5.86%. On average, analysts forecast that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlanticus

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATLC. Advisory Services Network LLC purchased a new stake in shares of Atlanticus in the 3rd quarter worth about $47,000. Jones Financial Companies Lllp bought a new stake in Atlanticus during the first quarter worth about $71,000. Inspire Investing LLC bought a new stake in Atlanticus during the first quarter worth about $87,000. BNP Paribas Financial Markets grew its holdings in Atlanticus by 334.8% in the second quarter. BNP Paribas Financial Markets now owns 1,735 shares of the credit services provider’s stock worth $95,000 after purchasing an additional 1,336 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in Atlanticus in the fourth 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.