Invesco Ltd. Purchases New Position in Atlanticus Holdings Corporation $ATLC

Key Points

• Invesco Ltd. acquired a new position in Atlanticus Holdings Corporation, purchasing 4,049 shares valued at approximately $207,000.
• The company reported a net margin of 8.51% and earnings per share of $1.51 for the last quarter, exceeding analysts' estimates.
• Atlanticus is set to pay a quarterly dividend of $0.4766 on September 15th, resulting in an annualized yield of 2.8% for its investors.

Invesco Ltd. purchased a new stake in Atlanticus Holdings Corporation (NASDAQ:ATLC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,049 shares of the credit services provider's stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. grew its stake in Atlanticus by 32.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,077 shares of the credit services provider's stock valued at $515,000 after buying an additional 2,457 shares during the last quarter. Swiss National Bank acquired a new position in Atlanticus in the 1st quarter valued at about $583,000. Charles Schwab Investment Management Inc. grew its stake in Atlanticus by 3.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,751 shares of the credit services provider's stock valued at $806,000 after buying an additional 561 shares during the last quarter. US Bancorp DE acquired a new position in Atlanticus in the 1st quarter valued at about $74,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Atlanticus in the 1st quarter valued at about $56,000. Institutional investors and hedge funds own 14.15% of the company's stock.

Atlanticus Stock Performance

Shares of Atlanticus stock opened at $68.09 on Tuesday. The company has a 50 day moving average of $57.99 and a 200-day moving average of $53.65. Atlanticus Holdings Corporation has a 1-year low of $30.00 and a 1-year high of $69.94. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.55. The company has a market cap of $1.03 billion, a PE ratio of 11.97 and a beta of 2.00.

Atlanticus (NASDAQ:ATLC - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The credit services provider reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.21. Atlanticus had a net margin of 8.51% and a return on equity of 24.20%. The company had revenue of $393.82 million during the quarter, compared to the consensus estimate of $373.87 million. As a group, equities research analysts forecast that Atlanticus Holdings Corporation will post 4.49 earnings per share for the current fiscal year.

Atlanticus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be paid a $0.4766 dividend. This represents a $1.91 annualized dividend and a yield of 2.8%.

Insider Buying and Selling

In related news, Director Deal W. Hudson sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $62.39, for a total value of $124,780.00. Following the completion of the transaction, the director owned 61,092 shares of the company's stock, valued at $3,811,529.88. This represents a 3.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 51.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on ATLC shares. Wall Street Zen upgraded shares of Atlanticus from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $60.00 target price (up previously from $52.00) on shares of Atlanticus in a research report on Monday, May 12th. Finally, JMP Securities increased their target price on shares of Atlanticus from $75.00 to $78.00 and gave the stock a "market outperform" rating in a research report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $63.20.

Atlanticus Company Profile

Atlanticus Holdings Corporation, a financial technology company, provides credit and related financial services and products to customers the United States. It operates in two segments, Credit as a Service, and Auto Finance. The Credit as a Service segment originates a range of consumer loan products, such as private label and general purpose credit cards originated by lenders through various channels, including retail and healthcare, direct mail solicitation, digital marketing, and partnerships with third parties; and offers credit to their customers for the purchase of various goods and services, including consumer electronics, furniture, elective medical procedures, healthcare, and home-improvements by partnering with retailers, healthcare providers, and other service providers.

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