Atlanticus Holdings Corporation $ATLC Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors cut its Atlanticus stake by 7.7%, selling 43,554 shares and retaining 522,545 shares worth approximately $27.4 million, or 3.5% of the company. Other institutions made mixed adjustments, while institutional and hedge-fund ownership stood at 14.15%.
• Analysts remain broadly bullish, with an average “Moderate Buy” rating and a consensus price target of $126. Recent upgrades included Texas Capital’s “Strong Buy” rating and higher targets from Jefferies and BTIG Research.
• Atlanticus shares opened at $111.31, near their 12-month high of $114.34, after the company reported quarterly EPS of $2.23—beating estimates by $0.54—despite revenue falling short of expectations. Insiders sold 75,000 shares worth about $7.9 million over the past three months.

Dimensional Fund Advisors LP decreased its position in Atlanticus Holdings Corporation (NASDAQ:ATLC - Free Report) by 7.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 522,545 shares of the credit services provider's stock after selling 43,554 shares during the period. Dimensional Fund Advisors LP owned about 3.50% of Atlanticus worth $27,416,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in Atlanticus by 11.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,701 shares of the credit services provider's stock valued at $471,000 after purchasing an additional 918 shares during the period. Range Financial Group LLC boosted its stake in shares of Atlanticus by 5.8% in the first quarter. Range Financial Group LLC now owns 4,526 shares of the credit services provider's stock valued at $237,000 after buying an additional 247 shares in the last quarter. HB Wealth Management LLC boosted its stake in shares of Atlanticus by 1,761.6% in the first quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider's stock valued at $6,233,000 after buying an additional 112,407 shares in the last quarter. Inspire Investing LLC acquired a new position in Atlanticus during the first quarter worth $87,000. Finally, Janney Montgomery Scott LLC raised its position in Atlanticus by 4.0% in the first quarter. Janney Montgomery Scott LLC now owns 51,629 shares of the credit services provider's stock worth $2,709,000 after acquiring an additional 1,965 shares in the last quarter. 14.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ATLC. Texas Capital upgraded shares of Atlanticus from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 13th. Jefferies Financial Group raised 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 upped their target price on shares of Atlanticus from $105.00 to $179.00 and gave the stock a "buy" rating in a research report on Tuesday, June 30th. B. Riley Financial reaffirmed a "buy" rating on shares of Atlanticus in a report on Thursday, May 14th. Finally, Citigroup reiterated an "outperform" rating on shares of Atlanticus in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $126.00.

Atlanticus Stock Up 0.9%

Shares of NASDAQ ATLC opened at $111.31 on Thursday. The firm's 50-day moving average is $97.22 and its two-hundred day moving average is $74.72. The company has a market capitalization of $1.68 billion, a PE ratio of 16.61 and a beta of 2.11. Atlanticus Holdings Corporation has a 12-month low of $47.50 and a 12-month high of $114.34. 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 (NASDAQ:ATLC - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The credit services provider reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.69 by $0.54. The business had revenue of $679.59 million during the quarter, compared to analysts' expectations of $749.36 million. Atlanticus had a net margin of 5.86% and a return on equity of 23.43%. Equities analysts anticipate that Atlanticus Holdings Corporation will post 9.48 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO William Mccamey sold 10,000 shares of the stock in a transaction 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 sale, the chief financial officer owned 127,410 shares of the company's stock, valued at $13,124,504.10. This trade represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey A. Howard sold 10,000 shares of the stock in a transaction 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 sale, the chief executive officer directly owned 663,265 shares in the company, valued at approximately $68,322,927.65. The trade was a 1.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 75,000 shares of company stock worth $7,868,627. 51.00% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding ATLC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atlanticus Holdings Corporation (NASDAQ:ATLC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source