Atlanticus Holdings Corporation (NASDAQ:ATLC) Director Sells $124,780.00 in Stock

Key Points

• Director W. Hudson of Atlanticus Holdings Corporation sold 2,000 shares at an average price of $62.39, totaling $124,780, which represents a 3.17% decrease in their ownership.
• The company's earnings per share (EPS) for the last quarter were reported at $1.51, exceeding analyst expectations of $1.30, with revenue amounting to $393.82 million.
• Analyst ratings for the stock are optimistic, with a consensus "Buy" rating and an average target price of $63.20.

Atlanticus Holdings Corporation (NASDAQ:ATLC - Get Free Report) Director Deal W. Hudson sold 2,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $62.39, for a total value of $124,780.00. Following the completion of the sale, the director owned 61,092 shares in the company, valued at $3,811,529.88. This trade represents a 3.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Atlanticus Price Performance

Shares of NASDAQ:ATLC traded down $0.80 during mid-day trading on Friday, reaching $61.35. The stock had a trading volume of 35,102 shares, compared to its average volume of 46,162. The business's 50 day moving average price is $53.50 and its 200 day moving average price is $52.97. Atlanticus Holdings Corporation has a 1 year low of $30.00 and a 1 year high of $64.70. The company has a market cap of $927.61 million, a P/E ratio of 10.78 and a beta of 1.93. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.55.

Atlanticus (NASDAQ:ATLC - Get Free Report) last announced its earnings results on Thursday, August 7th. The credit services provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.21. The business had revenue of $393.82 million during the quarter, compared to analyst estimates of $373.87 million. Atlanticus had a return on equity of 24.20% and a net margin of 8.51%. Research analysts expect that Atlanticus Holdings Corporation will post 4.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlanticus

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in shares of Atlanticus by 198.9% in the 1st quarter. Wellington Management Group LLP now owns 365,278 shares of the credit services provider's stock valued at $18,684,000 after acquiring an additional 243,053 shares during the period. Russell Investments Group Ltd. grew its holdings in Atlanticus by 468.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 69,298 shares of the credit services provider's stock valued at $3,794,000 after buying an additional 57,103 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake in shares of Atlanticus by 133.5% in the 2nd quarter. Bridgeway Capital Management LLC now owns 93,234 shares of the credit services provider's stock valued at $5,105,000 after purchasing an additional 53,312 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Atlanticus in the 1st quarter valued at about $2,588,000. Finally, American Century Companies Inc. raised its position in Atlanticus by 82.4% in the 1st quarter. American Century Companies Inc. now owns 95,476 shares of the credit services provider's stock valued at $4,884,000 after purchasing an additional 43,142 shares in the last quarter. Hedge funds and other institutional investors own 14.15% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on ATLC. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 target price (up previously from $52.00) on shares of Atlanticus in a research report on Monday, May 12th. JMP Securities upped their price objective on shares of Atlanticus from $75.00 to $78.00 and gave the stock a "market outperform" rating in a report on Tuesday. Finally, Wall Street Zen raised shares of Atlanticus from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $63.20.

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.

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