Atlanticus (NASDAQ:ATLC) Hits New 1-Year High – Here’s What Happened

Shares of Atlanticus Holdings Corporation (NASDAQ:ATLC) reached a new 52-week high on Tuesday . The stock traded as high as $113.37 and last traded at $112.2450, with a volume of 67071 shares traded. The stock had previously closed at $108.06.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. BTIG Research boosted their price objective on Atlanticus from $105.00 to $179.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. B. Riley Financial reaffirmed a “buy” rating on shares of Atlanticus in a research note on Thursday, May 14th. Texas Capital upgraded Atlanticus from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. William Blair set a $100.00 price target on Atlanticus in a research note on Wednesday, June 10th. Finally, Capital One Financial set a $144.00 price target on Atlanticus in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Atlanticus currently has an average rating of “Moderate Buy” and a consensus price target of $126.00.

Atlanticus Stock Up 1.1%

The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.08. The stock’s 50-day moving average price is $96.36 and its 200-day moving average price is $74.01. The company has a market cap of $1.65 billion, a P/E ratio of 16.31 and a beta of 2.11.

Atlanticus (NASDAQ:ATLC) last issued its earnings results on Thursday, May 7th. The credit services provider reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.54. Atlanticus had a return on equity of 23.43% and a net margin of 5.86%.The business had revenue of $679.59 million during the quarter, compared to analyst estimates of $749.36 million. As a group, research analysts forecast that Atlanticus Holdings Corporation will post 9.48 EPS for the current year.

Insider Transactions at Atlanticus

In other news, CEO Jeffrey A. Howard sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $103.01, for a total transaction 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. The trade was a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Frank J. Hanna III sold 15,676 shares of the business’s stock in a transaction that occurred on 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 sale, the insider owned 259,392 shares of the company’s stock, valued at approximately $27,044,209.92. This represents a 5.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 75,000 shares of company stock worth $7,868,627. 51.00% of the stock is currently owned by insiders.

Institutional Trading of Atlanticus

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its stake in shares of Atlanticus by 274.6% in the first quarter. Royal Bank of Canada now owns 23,314 shares of the credit services provider’s stock valued at $1,193,000 after buying an additional 17,091 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of Atlanticus during the first quarter worth about $1,083,000. Jones Financial Companies Lllp acquired a new stake in shares of Atlanticus in the 1st quarter worth about $71,000. Empowered Funds LLC raised its holdings in shares of Atlanticus by 47.3% in the 1st quarter. Empowered Funds LLC now owns 38,312 shares of the credit services provider’s stock worth $1,960,000 after acquiring an additional 12,308 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Atlanticus by 241.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 18,039 shares of the credit services provider’s stock valued at $988,000 after acquiring an additional 12,751 shares in the last quarter. 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.