Atlanticus (NASDAQ:ATLC) Major Shareholder Frank Hanna III Sells 1,005 Shares of Stock

Atlanticus Holdings Corporation (NASDAQ:ATLC) major shareholder Frank Hanna III sold 1,005 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $105.00, for a total transaction of $105,525.00. Following the transaction, the insider owned 283,387 shares in the company, valued at $29,755,635. The trade was a 0.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Atlanticus Trading Up 1.5%

ATLC stock opened at $103.75 on Thursday. The company has a market capitalization of $1.57 billion, a PE ratio of 15.49 and a beta of 2.11. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.24 and a current ratio of 1.24. Atlanticus Holdings Corporation has a one year low of $45.74 and a one year high of $112.61. The company’s 50 day moving average price is $86.80 and its two-hundred day moving average price is $68.74.

Atlanticus (NASDAQ:ATLC) last released its earnings results on Thursday, May 7th. The credit services provider reported $2.23 EPS 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 net margin of 5.86% and a return on equity of 23.43%. As a group, analysts predict that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlanticus

A number of hedge funds have recently modified their holdings of ATLC. Wellington Management Group LLP raised its stake in shares of Atlanticus by 54.7% during the fourth quarter. Wellington Management Group LLP now owns 704,282 shares of the credit services provider’s stock valued at $47,152,000 after acquiring an additional 249,100 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of Atlanticus by 1,761.6% in the first quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider’s stock worth $6,233,000 after purchasing an additional 112,407 shares during the last quarter. Bridgeway Capital Management LLC increased its holdings in Atlanticus by 133.5% during the 2nd quarter. Bridgeway Capital Management LLC now owns 93,234 shares of the credit services provider’s stock valued at $5,105,000 after purchasing an additional 53,312 shares during the period. UBS Group AG raised its position in Atlanticus by 333.2% during the 4th quarter. UBS Group AG now owns 37,582 shares of the credit services provider’s stock valued at $2,516,000 after purchasing an additional 28,907 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new stake in Atlanticus in the 1st quarter worth approximately $1,083,000. Hedge funds and other institutional investors own 14.15% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on ATLC shares. Citizens Jmp lifted their price objective on Atlanticus from $100.00 to $102.00 and gave the stock a “market outperform” rating in a report on Tuesday, March 17th. B. Riley Financial restated a “buy” rating on shares of Atlanticus in a report on Thursday, May 14th. Wall Street Zen lowered Atlanticus from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 27th. Texas Capital raised Atlanticus to a “hold” rating in a research note on Wednesday, June 10th. Finally, William Blair set a $100.00 price objective on Atlanticus in a research report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Atlanticus currently has a consensus rating of “Moderate Buy” and a consensus price target 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.