Denali Advisors LLC Buys New Shares in Atlanticus Holdings Corporation $ATLC

Key Points

• Denali Advisors purchased 19,871 Atlanticus shares worth approximately $2.03 million, while other institutions including BlackRock also initiated positions. Institutional investors now own 14.15% of the company.
• Atlanticus insiders sold 75,000 shares valued at roughly $7.87 million over the past 90 days, although insiders still own 51% of the stock.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $126.00. The company recently beat quarterly estimates, reporting $2.50 EPS and $744.31 million in revenue.

Denali Advisors LLC purchased a new position in Atlanticus Holdings Corporation (NASDAQ:ATLC - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,871 shares of the credit services provider's stock, valued at approximately $2,032,000. Denali Advisors LLC owned approximately 0.13% of Atlanticus as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Atlanticus in the second quarter worth approximately $43,535,000. Deutsche Bank AG bought a new stake in shares of Atlanticus during the 2nd quarter valued at $522,000. Bank of New York Mellon Corp bought a new stake in shares of Atlanticus during the 2nd quarter valued at $2,281,000. Walleye Capital LLC purchased a new position in shares of Atlanticus during the 2nd quarter valued at $208,000. Finally, Financial Management Professionals Inc. purchased a new position in shares of Atlanticus during the 2nd quarter valued at $33,000. Institutional investors own 14.15% of the company's stock.

Insider Transactions at Atlanticus

In other Atlanticus news, CFO William Mccamey sold 10,000 shares of the firm's 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 transaction, the chief financial officer owned 127,410 shares in the company, valued at $13,124,504.10. This trade represents a 7.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Frank J. Hanna III sold 15,676 shares of Atlanticus 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 completion of the sale, the insider directly owned 259,392 shares in the company, valued at approximately $27,044,209.92. The trade was a 5.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 75,000 shares of company stock valued at $7,868,627 in the last ninety days. Corporate insiders own 51.00% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Texas Capital upgraded Atlanticus from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 13th. Weiss Ratings upgraded Atlanticus from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, June 11th. B. Riley Financial reaffirmed a "buy" rating on shares of Atlanticus in a research note on Thursday, May 14th. Zacks Research cut Atlanticus from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 13th. Finally, Wall Street Zen raised Atlanticus from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 16th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $126.00.

Atlanticus Stock Down 2.1%

Shares of ATLC stock opened at $91.08 on Friday. The company's fifty day simple moving average is $99.97 and its two-hundred day simple moving average is $79.55. Atlanticus Holdings Corporation has a 52 week low of $47.50 and a 52 week high of $114.34. The stock has a market cap of $1.38 billion, a P/E ratio of 11.84 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 issued its quarterly earnings data on Thursday, August 6th. The credit services provider reported $2.50 earnings per share for the quarter, beating analysts' consensus estimates of $2.42 by $0.08. Atlanticus had a return on equity of 25.17% and a net margin of 5.80%.The firm had revenue of $744.31 million during the quarter, compared to analyst estimates of $716.35 million. Analysts predict that Atlanticus Holdings Corporation will post 9.48 EPS for the current fiscal 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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