Atlanticus (NASDAQ:ATLC) Major Shareholder Frank Hanna III Sells 15,676 Shares of Stock

Atlanticus Holdings Corporation (NASDAQ:ATLC) major shareholder Frank Hanna III sold 15,676 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $104.26, for a total value of $1,634,379.76. Following the completion of the transaction, the insider directly owned 259,392 shares of the company’s stock, valued at approximately $27,044,209.92. This trade represents a 5.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Atlanticus Price Performance

ATLC traded up $1.50 on Wednesday, hitting $103.75. 242,344 shares of the stock were exchanged, compared to its average volume of 178,765. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 15.49 and a beta of 2.11. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.24 and a quick ratio of 1.24. Atlanticus Holdings Corporation has a 12 month low of $45.74 and a 12 month high of $112.61. The business has a 50-day moving average of $86.80 and a two-hundred day moving average of $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 firm 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%. Sell-side analysts forecast that Atlanticus Holdings Corporation will post 9.48 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on ATLC shares. Zacks Research upgraded Atlanticus from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Texas Capital upgraded Atlanticus to a “hold” rating in a report on Wednesday, June 10th. Weiss Ratings upgraded shares of Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Wall Street Zen lowered shares of Atlanticus from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, William Blair set a $100.00 target price on shares of Atlanticus in a research note 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $119.75.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its holdings in shares of Atlanticus by 18.1% in the first quarter. Bank of America Corp DE now owns 6,280 shares of the credit services provider’s stock worth $330,000 after buying an additional 963 shares in the last quarter. Empowered Funds LLC increased its holdings in Atlanticus by 7.0% during the 1st quarter. Empowered Funds LLC now owns 69,309 shares of the credit services provider’s stock worth $3,637,000 after acquiring an additional 4,556 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Atlanticus by 11.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,701 shares of the credit services provider’s stock worth $471,000 after purchasing an additional 918 shares in the last quarter. Range Financial Group LLC lifted its stake in Atlanticus by 5.8% in the 1st quarter. Range Financial Group LLC now owns 4,526 shares of the credit services provider’s stock worth $237,000 after purchasing an additional 247 shares in the last quarter. Finally, HB Wealth Management LLC boosted its holdings in 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 valued at $6,233,000 after purchasing an additional 112,407 shares during the period. 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.