Arrowstreet Capital Limited Partnership Has $1.52 Million Position in Atlanticus Holdings Corporation $ATLC

Key Points

• Arrowstreet Capital cut its Atlanticus stake by 64.6% in the first quarter, leaving it with 29,053 shares worth approximately $1.52 million. Institutional investors collectively own 14.15% of the company.
• Atlanticus shares opened at $111.31, near their 52-week high of $114.34, with the stock’s 50-day and 200-day moving averages at $97.22 and $74.72, respectively. The company reported quarterly EPS of $2.23, beating estimates by $0.54, though revenue fell short of expectations.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $126, including targets as high as $179. Meanwhile, insiders sold 75,000 shares worth about $7.87 million in the last quarter.

Arrowstreet Capital Limited Partnership decreased its stake in Atlanticus Holdings Corporation (NASDAQ:ATLC - Free Report) by 64.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,053 shares of the credit services provider's stock after selling 52,922 shares during the period. Arrowstreet Capital Limited Partnership owned 0.19% of Atlanticus worth $1,524,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. HB Wealth Management LLC raised its position in shares of 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 acquiring an additional 112,407 shares in the last quarter. Denali Advisors LLC lifted its stake in shares of Atlanticus by 83.8% in the 4th quarter. Denali Advisors LLC now owns 15,222 shares of the credit services provider's stock valued at $1,019,000 after purchasing an additional 6,941 shares during the period. Los Angeles Capital Management LLC boosted its position in shares of Atlanticus by 28.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 31,265 shares of the credit services provider's stock valued at $2,093,000 after purchasing an additional 6,970 shares in the last quarter. UBS Group AG boosted its position in shares of Atlanticus by 333.2% during the 4th quarter. UBS Group AG now owns 37,582 shares of the credit services provider's stock valued at $2,516,000 after purchasing an additional 28,907 shares in the last quarter. Finally, Range Financial Group LLC grew its stake in Atlanticus by 5.8% during the first quarter. Range Financial Group LLC now owns 4,526 shares of the credit services provider's stock worth $237,000 after purchasing an additional 247 shares during the period. 14.15% of the stock is currently owned by institutional investors.

Atlanticus Stock Performance

Shares of ATLC stock opened at $111.31 on Thursday. The firm has a 50-day moving average of $97.22 and a 200-day moving average of $74.72. The company has a market cap of $1.68 billion, a P/E ratio of 16.61 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. Atlanticus Holdings Corporation has a one year low of $47.50 and a one year high of $114.34.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. William Blair set a $100.00 price target on Atlanticus in a report on Wednesday, June 10th. Jefferies Financial Group lifted their price objective on shares of Atlanticus from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. BTIG Research boosted their target price on shares of Atlanticus from $105.00 to $179.00 and gave the company a "buy" rating in a research report on Tuesday, June 30th. HSBC set a $144.00 target price on shares of Atlanticus in a research note on Monday, July 13th. Finally, Capital One Financial set a $144.00 price target on shares of Atlanticus in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $126.00.

Insider Activity

In other news, 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 stock was sold at an average price of $104.26, for a total value of $1,634,379.76. Following the transaction, the insider owned 259,392 shares in the company, valued at $27,044,209.92. The trade was a 5.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO William Mccamey sold 10,000 shares of the company's 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 approximately $13,124,504.10. This represents a 7.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 75,000 shares of company stock worth $7,868,627 in the last quarter. 51.00% of the stock is owned by corporate insiders.

Atlanticus 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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