Atlanticus Holdings Co. (NASDAQ:ATLC) Sees Significant Decrease in Short Interest

Atlanticus Holdings Co. (NASDAQ:ATLC) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 289,700 shares, a drop of 9.6% from the October 31st total of 320,500 shares. Currently, 6.1% of the shares of the stock are sold short. Based on an average daily volume of 21,400 shares, the days-to-cover ratio is currently 13.5 days.

Insider Buying and Selling

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 value of $889,022.20. Following the completion of the sale, the chief accounting officer now directly 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 available through this link. Also, Director Deal W. Hudson sold 1,200 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $32.75, for a total transaction of $39,300.00. Following the transaction, the director now owns 67,455 shares in the company, valued at approximately $2,209,151.25. This trade represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,204 shares of company stock worth $1,080,197 in the last quarter. 51.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. FMR LLC grew its holdings in shares of Atlanticus by 393.1% in the 3rd quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock valued at $80,000 after buying an additional 1,820 shares during the period. MetLife Investment Management LLC raised its stake in Atlanticus by 158.8% during the 3rd quarter. MetLife Investment Management LLC now owns 2,971 shares of the credit services provider’s stock worth $104,000 after buying an additional 1,823 shares during the period. Rhumbline Advisers lifted its holdings in Atlanticus by 9.3% during the second quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock worth $229,000 after acquiring an additional 690 shares in the last quarter. Barclays PLC grew its stake in Atlanticus by 285.6% in the third quarter. Barclays PLC now owns 8,218 shares of the credit services provider’s stock valued at $289,000 after acquiring an additional 6,087 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in shares of Atlanticus by 9.3% in the second quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock worth $234,000 after acquiring an additional 704 shares in the last quarter. Institutional investors and hedge funds own 14.15% of the company’s stock.

Atlanticus Stock Performance

Shares of NASDAQ:ATLC remained flat at $58.26 during midday trading on Monday. The stock had a trading volume of 11,423 shares, compared to its average volume of 18,379. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. Atlanticus has a 1-year low of $23.09 and a 1-year high of $59.17. The business has a 50 day moving average of $41.21 and a two-hundred day moving average of $34.34. The company has a market cap of $858.69 million, a PE ratio of 13.09 and a beta of 1.92.

Atlanticus (NASDAQ:ATLC) last issued its earnings results on Thursday, November 7th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.04. The firm had revenue of $351.22 million for the quarter, compared to analysts’ expectations of $326.64 million. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. Equities analysts forecast that Atlanticus will post 4.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ATLC has been the topic of a number of research reports. BTIG Research upped their target price on shares of Atlanticus from $45.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Stephens assumed coverage on Atlanticus in a research report on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 price objective on the stock. B. Riley lifted their target price on Atlanticus from $50.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. StockNews.com raised Atlanticus from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Finally, JMP Securities lifted their price objective on Atlanticus from $45.00 to $54.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Atlanticus has an average rating of “Buy” and a consensus price target of $53.00.

About Atlanticus

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.