Atlanticus (NASDAQ:ATLC) Sees Strong Trading Volume - What's Next?

Key Points

• Atlanticus (NASDAQ:ATLC) saw unusually high trading activity, with 79,002 shares changing hands, though the stock slipped to $92.83 from a prior close of $95.17.
• Analyst sentiment remains positive overall, with multiple recent upgrades and an average Moderate Buy rating; the consensus price target is $126, and BTIG recently raised its target to $179.
• The company beat first-quarter EPS estimates with $2.23 per share, while insiders have been selling shares recently, including the CFO and CEO, who each sold 10,000 shares at $103.01.

Atlanticus Holdings Corporation (NASDAQ:ATLC - Get Free Report) saw unusually-high trading volume on Thursday . 79,002 shares changed hands during trading, a decline of 21% from the previous session's volume of 100,097 shares.The stock last traded at $92.83 and had previously closed at $95.17.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ATLC. Texas Capital raised shares of Atlanticus from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 13th. Wall Street Zen raised shares of Atlanticus from a "buy" rating to a "strong-buy" rating in a report on Sunday, July 5th. B. Riley Financial reissued a "buy" rating on shares of Atlanticus in a research note on Thursday, May 14th. BTIG Research increased their target price on Atlanticus from $105.00 to $179.00 and gave the company a "buy" rating in a research report on Tuesday, June 30th. Finally, William Blair set a $100.00 price target on Atlanticus in a report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Atlanticus has an average rating of "Moderate Buy" and an average target price of $126.00.

Atlanticus Price Performance

The company has a market cap of $1.43 billion, a PE ratio of 14.07 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. The stock's 50-day moving average is $92.69 and its 200 day moving average is $71.85.

Atlanticus (NASDAQ:ATLC - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The credit services provider reported $2.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.69 by $0.54. The business had revenue of $679.59 million for the quarter, compared to the consensus estimate of $749.36 million. Atlanticus had a return on equity of 23.43% and a net margin of 5.86%. On average, equities analysts anticipate that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO William Mccamey sold 10,000 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 127,410 shares of the company's stock, valued at $13,124,504.10. This trade represents a 7.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey A. Howard sold 10,000 shares of Atlanticus 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 of the company's stock, valued at $68,322,927.65. This trade represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 75,000 shares of company stock worth $7,868,627 in the last three months. Insiders own 51.00% of the company's stock.

Hedge Funds Weigh In On Atlanticus

Several hedge funds have recently made changes to their positions in the company. HB Wealth Management LLC increased 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 worth $6,233,000 after buying an additional 112,407 shares during the period. Denali Advisors LLC lifted its stake in Atlanticus by 83.8% during the 4th quarter. Denali Advisors LLC now owns 15,222 shares of the credit services provider's stock valued at $1,019,000 after acquiring an additional 6,941 shares during the period. UBS Group AG boosted its holdings in shares of Atlanticus by 333.2% in the 4th quarter. UBS Group AG now owns 37,582 shares of the credit services provider's stock valued at $2,516,000 after acquiring an additional 28,907 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Atlanticus by 28.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 31,265 shares of the credit services provider's stock worth $2,093,000 after acquiring an additional 6,970 shares during the period. Finally, Inspire Investing LLC purchased a new position in shares of Atlanticus during the first quarter worth $87,000. 14.15% of the stock is owned by institutional investors and hedge funds.

About Atlanticus

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.

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