Mitchell Saunders Sells 10,000 Shares of Atlanticus (NASDAQ:ATLC) Stock

Atlanticus Holdings Corporation (NASDAQ:ATLC) CAO Mitchell Saunders sold 10,000 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $102.20, for a total value of $1,022,000.00. Following the completion of the sale, the chief accounting officer directly owned 46,273 shares of the company’s stock, valued at approximately $4,729,100.60. This trade represents a 17.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Atlanticus Stock Performance

ATLC traded up $1.50 during trading on Wednesday, hitting $103.75. 242,344 shares of the stock were exchanged, compared to its average volume of 178,765. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.08. Atlanticus Holdings Corporation has a 1-year low of $45.74 and a 1-year high of $112.61. The stock has a fifty day moving average price of $86.80 and a two-hundred day moving average price of $68.74. The firm has a market capitalization of $1.57 billion, a P/E ratio of 15.49 and a beta of 2.11.

Atlanticus (NASDAQ:ATLC) last announced its earnings results on Thursday, May 7th. The credit services provider reported $2.23 earnings per share (EPS) for the quarter, topping 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 business had revenue of $679.59 million for the quarter, compared to analyst estimates of $749.36 million. As a group, sell-side analysts predict that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current year.

Institutional Investors Weigh In On Atlanticus

Large investors have recently modified their holdings of the stock. Denali Advisors LLC raised its stake in shares of Atlanticus by 83.8% during the fourth quarter. Denali Advisors LLC now owns 15,222 shares of the credit services provider’s stock valued at $1,019,000 after purchasing an additional 6,941 shares during the period. Los Angeles Capital Management LLC lifted its stake in Atlanticus by 28.7% during 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 purchasing an additional 6,970 shares during the last quarter. UBS Group AG boosted its holdings in Atlanticus by 333.2% in the fourth quarter. UBS Group AG now owns 37,582 shares of the credit services provider’s stock worth $2,516,000 after purchasing an additional 28,907 shares during the period. Bank of America Corp DE raised its holdings in shares of 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. Finally, Empowered Funds LLC boosted its holdings in shares of Atlanticus by 7.0% in 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. Institutional investors and hedge funds own 14.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ATLC. Wall Street Zen lowered shares of Atlanticus from a “strong-buy” rating to a “buy” rating in a research report on Saturday. B. Riley Financial reissued a “buy” rating on shares of Atlanticus in a research note on Thursday, May 14th. Weiss Ratings raised Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Texas Capital raised Atlanticus to a “hold” rating in a report on Wednesday, June 10th. Finally, Zacks Research raised shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 20th. One investment 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.75.

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.