Philadelphia Financial Management of San Francisco LLC acquired a new position in Atlanticus Holdings Corporation (NASDAQ:ATLC - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 89,597 shares of the credit services provider's stock, valued at approximately $9,161,293,000. Atlanticus comprises about 1.8% of Philadelphia Financial Management of San Francisco LLC's holdings, making the stock its 15th biggest holding. Philadelphia Financial Management of San Francisco LLC owned 0.59% of Atlanticus at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of ATLC. BlackRock Inc. bought a new stake in Atlanticus during the second quarter valued at about $43,535,000. Wellington Management Group LLP boosted its stake in Atlanticus by 54.7% in the 4th quarter. Wellington Management Group LLP now owns 704,282 shares of the credit services provider's stock worth $47,152,000 after purchasing an additional 249,100 shares during the period. HB Wealth Management LLC boosted its stake in 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 purchasing an additional 112,407 shares during the period. Bridgeway Capital Management LLC grew its holdings in Atlanticus by 133.5% during the 2nd quarter. Bridgeway Capital Management LLC now owns 93,234 shares of the credit services provider's stock valued at $5,105,000 after buying an additional 53,312 shares in the last quarter. Finally, UBS Group AG raised its position in shares of Atlanticus by 333.2% during the fourth quarter. UBS Group AG now owns 37,582 shares of the credit services provider's stock valued at $2,516,000 after buying an additional 28,907 shares during the last quarter. Hedge funds and other institutional investors own 14.15% of the company's stock.
Wall Street Analyst Weigh In
ATLC has been the topic of a number of research analyst reports. Capital One Financial set a $144.00 target price on Atlanticus in a research report on Monday, July 13th. Texas Capital upgraded Atlanticus from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 13th. Citigroup reiterated an "outperform" rating on shares of Atlanticus in a report on Thursday, July 16th. BTIG Research raised their price objective on Atlanticus from $105.00 to $179.00 and gave the stock a "buy" rating in a report on Tuesday, June 30th. Finally, B. Riley Financial reaffirmed a "buy" rating on shares of Atlanticus in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Atlanticus has a consensus rating of "Moderate Buy" and an average price target of $126.00.
Check Out Our Latest Stock Analysis on ATLC
Atlanticus Price Performance
NASDAQ ATLC opened at $92.92 on Thursday. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 12.08 and a beta of 2.11. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.26 and a quick ratio of 1.26. The stock's fifty day moving average price is $100.29 and its 200 day moving average price is $79.20. Atlanticus Holdings Corporation has a 1 year low of $47.50 and a 1 year high of $114.34.
Atlanticus (NASDAQ:ATLC - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The credit services provider reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.42 by $0.08. The firm had revenue of $744.31 million for the quarter, compared to analyst estimates of $716.35 million. Atlanticus had a net margin of 5.80% and a return on equity of 25.17%. As a group, equities research analysts forecast that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current year.
Insiders Place Their Bets
In related news, major shareholder Frank J. Hanna III sold 15,676 shares of the company's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $104.26, for a total transaction of $1,634,379.76. Following the completion of the transaction, the insider owned 259,392 shares in the company, valued at $27,044,209.92. This represents a 5.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey A. Howard sold 10,000 shares of the firm'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 executive officer owned 663,265 shares in the company, valued at approximately $68,322,927.65. This trade represents a 1.49% 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 three months. 51.00% of the stock is currently owned by company insiders.
Atlanticus Profile
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Free Report)
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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