Atlanticus (NASDAQ:ATLC) Shares Down 6.4% - Here's What Happened

Key Points

• Atlanticus shares fell 6.4% to about $92.78 in midday trading, with volume down 85% from the average session. The stock’s market capitalization was approximately $1.40 billion.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $126. Recent targets range from $100 to $144.
• Atlanticus exceeded quarterly expectations, reporting $2.50 in EPS versus the $2.42 consensus and revenue of $744.31 million versus $716.35 million expected. However, insiders sold 75,000 shares worth about $7.9 million over the past 90 days.

Atlanticus Holdings Corporation (NASDAQ:ATLC - Get Free Report) shares fell 6.4% during mid-day trading on Thursday . The stock traded as low as $93.00 and last traded at $92.7770. Approximately 15,977 shares changed hands during trading, a decline of 85% from the average session volume of 108,495 shares. The stock had previously closed at $99.12.

Wall Street Analyst Weigh In

ATLC has been the subject of several recent analyst reports. Capital One Financial set a $144.00 price objective on Atlanticus in a research report on Monday, July 13th. B. Riley Financial reaffirmed a "buy" rating on shares of Atlanticus in a research note on Thursday, May 14th. Jefferies Financial Group increased their price target on Atlanticus from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. William Blair set a $100.00 target price on shares of Atlanticus in a research report on Wednesday, June 10th. Finally, HSBC set a $144.00 price target on Atlanticus in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $126.00.

Atlanticus Stock Performance

The company has a 50-day moving average of $100.27 and a 200-day moving average of $77.73. The company has a market cap of $1.40 billion, a PE ratio of 12.00 and a beta of 2.11. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.99.

Atlanticus (NASDAQ:ATLC - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The credit services provider reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.42 by $0.08. The business had revenue of $744.31 million during the quarter, compared to analyst estimates of $716.35 million. Atlanticus had a return on equity of 25.17% and a net margin of 5.80%. As a group, analysts anticipate that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current year.

Insiders Place Their Bets

In other Atlanticus news, CAO Mitchell Saunders sold 10,000 shares of the company's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $102.20, for a total value of $1,022,000.00. Following the completion of the transaction, the chief accounting officer owned 46,273 shares in the company, valued at $4,729,100.60. This represents a 17.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey A. Howard 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 transaction of $1,030,100.00. Following the transaction, the chief executive officer directly owned 663,265 shares of the company's stock, valued at $68,322,927.65. This represents a 1.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 75,000 shares of company stock valued at $7,868,627. Insiders own 51.00% of the company's stock.

Institutional Investors Weigh In On Atlanticus

Several institutional investors have recently added to or reduced their stakes in ATLC. Wellington Management Group LLP boosted its holdings in shares of Atlanticus by 54.7% in the fourth quarter. Wellington Management Group LLP now owns 704,282 shares of the credit services provider's stock worth $47,152,000 after acquiring an additional 249,100 shares during the period. BlackRock Inc. bought a new stake in shares of Atlanticus during the 2nd quarter valued at $43,535,000. Vanguard Group Inc. increased its holdings in Atlanticus by 6.7% during the 3rd quarter. Vanguard Group Inc. now owns 305,772 shares of the credit services provider's stock worth $17,912,000 after acquiring an additional 19,159 shares during the period. HB Wealth Management LLC lifted its stake 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 purchasing an additional 112,407 shares in the last quarter. Finally, State Street Corp lifted its stake in Atlanticus by 9.8% in the 4th quarter. State Street Corp now owns 117,071 shares of the credit services provider's stock worth $7,838,000 after purchasing an additional 10,409 shares in the last quarter. 14.15% of the stock is owned by hedge funds and other institutional investors.

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.

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