22,313 Shares in Atlanticus Holdings Corporation $ATLC Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 22,313 Atlanticus shares valued at approximately $2.28 million, while institutional investors and hedge funds collectively owned 14.15% of the company.
• Analysts maintain a generally positive outlook, with Atlanticus receiving a consensus “Moderate Buy” rating and a $129 price target; BTIG raised its target to $179.
• Atlanticus beat quarterly earnings and revenue estimates, reporting $2.50 in EPS and $744.31 million in revenue, although insiders sold 75,000 shares worth about $7.87 million over the past 90 days.

Bank of New York Mellon Corp acquired a new stake in Atlanticus Holdings Corporation (NASDAQ:ATLC - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 22,313 shares of the credit services provider's stock, valued at approximately $2,281,000. Bank of New York Mellon Corp owned about 0.15% of Atlanticus at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ATLC. HB Wealth Management LLC raised its holdings in shares of Atlanticus by 1,761.6% during 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 in the last quarter. Los Angeles Capital Management LLC boosted its stake in 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 valued at $2,093,000 after buying an additional 6,970 shares in the last quarter. UBS Group AG boosted its stake in Atlanticus by 333.2% in the fourth quarter. UBS Group AG now owns 37,582 shares of the credit services provider's stock valued at $2,516,000 after buying an additional 28,907 shares in the last quarter. Zacks Investment Management bought a new position in Atlanticus in the fourth quarter valued at about $220,000. Finally, Franklin Resources Inc. bought a new position in Atlanticus in the third quarter valued at about $202,000. 14.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ATLC has been the subject of a number of research reports. Citigroup reissued an "outperform" rating on shares of Atlanticus in a report on Thursday, July 16th. Capital One Financial set a $144.00 price objective on shares of Atlanticus in a research report on Monday, July 13th. Wall Street Zen downgraded shares of Atlanticus from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Weiss Ratings upgraded shares of Atlanticus from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, June 11th. Finally, BTIG Research upped their price target on shares of Atlanticus from $105.00 to $179.00 and gave the stock a "buy" rating in a report on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Atlanticus presently has a consensus rating of "Moderate Buy" and a consensus price target of $129.00.

Insider Activity

In other Atlanticus news, CAO Mitchell Saunders sold 10,000 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $102.20, for a total transaction of $1,022,000.00. Following the completion of the sale, the chief accounting officer directly owned 46,273 shares in the company, valued at approximately $4,729,100.60. This trade represents a 17.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeffrey Howard sold 10,000 shares of Atlanticus stock in a transaction dated Tuesday, June 30th. The stock was 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 executive officer directly owned 663,265 shares of the company's stock, valued at approximately $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. Over the last ninety days, insiders sold 75,000 shares of company stock worth $7,868,627. 51.00% of the stock is owned by insiders.

Atlanticus Price Performance

Atlanticus stock opened at $93.13 on Tuesday. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 12.11 and a beta of 2.02. Atlanticus Holdings Corporation has a 52-week low of $47.50 and a 52-week high of $114.34. 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 50 day moving average price of $98.54 and a two-hundred day moving average price of $81.34.

Atlanticus (NASDAQ:ATLC - Get Free Report) last posted its quarterly earnings data 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. Atlanticus had a net margin of 5.80% and a return on equity of 25.17%. The company had revenue of $744.31 million for the quarter, compared to analyst estimates of $716.35 million. Equities analysts predict that Atlanticus Holdings Corporation will post 9.73 EPS for the current year.

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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