89,597 Shares in Atlanticus Holdings Corporation $ATLC Purchased by Philadelphia Financial Management of San Francisco LLC

Philadelphia Financial Management of San Francisco LLC bought a new stake in Atlanticus Holdings Corporation (NASDAQ:ATLC) in the 2nd quarter, Holdings Channel.com reports. The fund bought 89,597 shares of the credit services provider’s stock, valued at approximately $9,161,293,000. Atlanticus accounts for about 1.8% of Philadelphia Financial Management of San Francisco LLC’s investment portfolio, making the stock its 15th largest position.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Bank of America Corp DE acquired a new stake in Atlanticus in the 2nd quarter valued at about $1,066,000. Jupiter Topco LLC acquired a new stake in Atlanticus during the second quarter worth approximately $255,000. Hsbc Holdings PLC acquired a new position in Atlanticus in the second quarter valued at $269,000. Legal & General Group Plc acquired a new stake in shares of Atlanticus in the 2nd quarter valued at about $320,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Atlanticus in the 2nd quarter valued at about $1,068,000. 14.15% of the stock is currently owned by hedge funds and other institutional investors.

Atlanticus Stock Down 1.1%

Shares of Atlanticus stock opened at $92.92 on Thursday. Atlanticus Holdings Corporation has a one year low of $47.50 and a one year high of $114.34. The company has a market cap of $1.41 billion, a P/E ratio of 12.08 and a beta of 2.11. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a fifty day moving average of $100.29 and a two-hundred day moving average of $79.20.

Atlanticus (NASDAQ:ATLC) last issued its earnings results on Thursday, August 6th. The credit services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.08. The business had revenue of $744.31 million for the quarter, compared to the consensus estimate of $716.35 million. Atlanticus had a net margin of 5.80% and a return on equity of 25.17%. On average, analysts forecast that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current year.

Analyst Ratings Changes

ATLC has been the subject of a number of research reports. Capital One Financial set a $144.00 price objective on Atlanticus in a research note on Monday, July 13th. B. Riley Financial reaffirmed a “buy” rating on shares of Atlanticus in a report on Thursday, May 14th. Texas Capital upgraded shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Zacks Research downgraded shares of Atlanticus from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Weiss Ratings raised shares of Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.00.

Insider Activity at Atlanticus

In related news, CEO Jeffrey A. Howard sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $103.01, for a total value of $1,030,100.00. Following the completion of the sale, the chief executive officer owned 663,265 shares in the company, valued at $68,322,927.65. This trade represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Frank J. Hanna III sold 15,676 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $104.26, for a total transaction 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 75,000 shares of company stock worth $7,868,627 over the last three months. 51.00% of the stock is currently owned by company insiders.

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.