Empowered Funds LLC Acquires Shares of 71,255 Atlanticus Holdings Corporation $ATLC

Key Points

• Empowered Funds LLC acquired 71,255 Atlanticus shares worth approximately $7.3 million, giving it a 0.47% stake. Hedge funds and other institutional investors collectively own 14.15% of the company.
• Analysts maintain a generally positive view, with Atlanticus carrying a “Moderate Buy” consensus rating and a $126 average price target. Jefferies recently raised its target to $115, while Texas Capital upgraded the stock to “strong buy.”
• Atlanticus exceeded quarterly expectations, reporting $2.50 EPS versus the $2.42 consensus and $744.31 million in revenue versus estimates of $716.35 million. However, insiders sold 75,000 shares worth roughly $7.9 million over the past 90 days.

Empowered Funds LLC acquired a new stake in shares of Atlanticus Holdings Corporation (NASDAQ:ATLC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 71,255 shares of the credit services provider's stock, valued at approximately $7,286,000. Empowered Funds LLC owned about 0.47% of Atlanticus at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ATLC. Financial Management Professionals Inc. bought a new stake in shares of Atlanticus in the second quarter worth about $33,000. Advisory Services Network LLC bought a new position in Atlanticus during the 3rd quarter valued at approximately $47,000. Jones Financial Companies Lllp bought a new position in Atlanticus during the 1st quarter valued at approximately $71,000. Inspire Investing LLC purchased a new stake in Atlanticus in the 1st quarter worth approximately $87,000. Finally, BNP Paribas Financial Markets lifted its holdings in Atlanticus by 334.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,735 shares of the credit services provider's stock worth $95,000 after buying an additional 1,336 shares during the period. 14.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. William Blair set a $100.00 target price on Atlanticus in a research note on Wednesday, June 10th. Texas Capital raised Atlanticus from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 13th. Zacks Research cut shares of Atlanticus from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. B. Riley Financial reissued a "buy" rating on shares of Atlanticus in a research report on Thursday, May 14th. Finally, Jefferies Financial Group boosted their price objective on shares of Atlanticus from $100.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Atlanticus presently has an average rating of "Moderate Buy" and a consensus price target of $126.00.

Insider Buying and Selling at Atlanticus

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

Atlanticus Stock Performance

Shares of ATLC stock opened at $91.08 on Monday. The company's fifty day moving average price is $99.97 and its 200-day moving average price is $79.70. The stock has a market cap of $1.38 billion, a PE ratio of 11.84 and a beta of 2.11. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.99. Atlanticus Holdings Corporation has a 12 month low of $47.50 and a 12 month high of $114.34.

Atlanticus (NASDAQ:ATLC - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The credit services provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $716.35 million. On average, equities analysts expect that Atlanticus Holdings Corporation will post 9.48 EPS for the current fiscal year.

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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