Atlanticus Holdings Co. (NASDAQ:ATLC) Short Interest Down 32.7% in December

Atlanticus Holdings Co. (NASDAQ:ATLC) saw a large drop in short interest in December. As of December 31st, there was short interest totalling 189,800 shares, a drop of 32.7% from the December 15th total of 282,000 shares. Based on an average daily trading volume, of 41,300 shares, the days-to-cover ratio is currently 4.6 days. Approximately 3.9% of the company’s shares are sold short.

Atlanticus Stock Up 1.6 %

Shares of ATLC stock traded up $0.96 during trading hours on Thursday, reaching $60.01. 14,912 shares of the company’s stock were exchanged, compared to its average volume of 48,636. Atlanticus has a fifty-two week low of $23.09 and a fifty-two week high of $64.70. The stock’s 50 day moving average is $55.77 and its 200-day moving average is $41.62. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. The company has a market cap of $884.55 million, a price-to-earnings ratio of 13.49 and a beta of 2.05.

Atlanticus (NASDAQ:ATLC) last announced its earnings results on Thursday, November 7th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.04. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. The company had revenue of $351.22 million for the quarter, compared to analyst estimates of $326.64 million. Analysts predict that Atlanticus will post 4.49 earnings per share for the current fiscal year.

Insider Activity at Atlanticus

In other news, CAO Mitchell Saunders sold 16,004 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $55.55, for a total transaction of $889,022.20. Following the transaction, the chief accounting officer now owns 50,973 shares in the company, valued at approximately $2,831,550.15. This trade represents a 23.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Denise M. Harrod sold 1,141 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $49.00, for a total transaction of $55,909.00. Following the completion of the sale, the director now directly owns 5,659 shares of the company’s stock, valued at approximately $277,291. This trade represents a 16.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,504 shares of company stock worth $962,522 in the last 90 days. 51.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atlanticus

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in Atlanticus during the 3rd quarter valued at approximately $313,000. Wellington Management Group LLP acquired a new position in shares of Atlanticus in the 3rd quarter valued at $1,654,000. Geode Capital Management LLC raised its stake in Atlanticus by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 122,501 shares of the credit services provider’s stock worth $4,298,000 after acquiring an additional 2,348 shares during the last quarter. State Street Corp lifted its position in Atlanticus by 2.4% during the 3rd quarter. State Street Corp now owns 93,431 shares of the credit services provider’s stock worth $3,278,000 after acquiring an additional 2,212 shares during the period. Finally, Barclays PLC grew its stake in Atlanticus by 285.6% during the 3rd quarter. Barclays PLC now owns 8,218 shares of the credit services provider’s stock valued at $289,000 after purchasing an additional 6,087 shares during the last quarter. 14.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on ATLC shares. B. Riley upgraded shares of Atlanticus to a “strong-buy” rating in a report on Tuesday, January 7th. BTIG Research upped their target price on Atlanticus from $45.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Stephens assumed coverage on Atlanticus in a report on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 price target on the stock. Finally, JMP Securities upped their price objective on Atlanticus from $54.00 to $75.00 and gave the stock a “market outperform” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Atlanticus currently has a consensus rating of “Buy” and a consensus price target of $57.20.

Atlanticus Company Profile

Atlanticus Holdings Corporation, a financial technology company, provides credit and related financial services and products to customers the United States. It operates in two segments, Credit as a Service, and Auto Finance. The Credit as a Service segment originates a range of consumer loan products, such as private label and general purpose credit cards originated by lenders through various channels, including retail and healthcare, direct mail solicitation, digital marketing, and partnerships with third parties; and offers credit to their customers for the purchase of various goods and services, including consumer electronics, furniture, elective medical procedures, healthcare, and home-improvements by partnering with retailers, healthcare providers, and other service providers.