Renaissance Technologies LLC Sells 12,400 Shares of Atlanticus Holdings Corporation $ATLC

Key Points

• Renaissance Technologies reduced its Atlanticus position by 9.7%, selling 12,400 shares and retaining 115,558 shares worth approximately $6.1 million. Institutional investors own 14.15% of the company.
• Atlanticus shares opened at $110.32, near their 12-month high of $113.37. The company reported quarterly EPS of $2.23, beating estimates of $1.69, although revenue of $679.59 million fell short of the $749.36 million consensus.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $126, while company insiders sold 75,000 shares worth about $7.9 million during the latest quarter.

Renaissance Technologies LLC cut its position in Atlanticus Holdings Corporation (NASDAQ:ATLC - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,558 shares of the credit services provider's stock after selling 12,400 shares during the period. Renaissance Technologies LLC owned 0.76% of Atlanticus worth $6,063,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new position in Atlanticus during the 3rd quarter worth approximately $47,000. Jones Financial Companies Lllp acquired a new stake in Atlanticus in the first quarter valued at approximately $71,000. Inspire Investing LLC acquired a new stake in Atlanticus in the first quarter valued at approximately $87,000. BNP Paribas Financial Markets increased its holdings in shares of Atlanticus by 334.8% during the second quarter. BNP Paribas Financial Markets now owns 1,735 shares of the credit services provider's stock valued at $95,000 after acquiring an additional 1,336 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in shares of Atlanticus during the fourth quarter valued at approximately $105,000. 14.15% of the stock is owned by institutional investors.

Atlanticus Stock Up 2.1%

ATLC stock opened at $110.32 on Wednesday. The firm has a market capitalization of $1.67 billion, a PE ratio of 16.47 and a beta of 2.11. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.08. Atlanticus Holdings Corporation has a twelve month low of $47.50 and a twelve month high of $113.37. The stock's 50 day moving average is $96.80 and its 200-day moving average is $74.36.

Atlanticus (NASDAQ:ATLC - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The credit services provider reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.54. The business had revenue of $679.59 million during the quarter, compared to the consensus estimate of $749.36 million. Atlanticus had a return on equity of 23.43% and a net margin of 5.86%. Sell-side analysts expect that Atlanticus Holdings Corporation will post 9.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Zacks Research cut Atlanticus from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. HSBC set a $144.00 price target on shares of Atlanticus in a research note on Monday, July 13th. Wall Street Zen upgraded shares of Atlanticus from a "buy" rating to a "strong-buy" rating in a report on Sunday, July 5th. BTIG Research raised their price objective on shares of Atlanticus from $105.00 to $179.00 and gave the company a "buy" rating in a research note on Tuesday, June 30th. Finally, Weiss Ratings upgraded shares of Atlanticus from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, June 11th. One investment 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $126.00.

Insider Activity

In other news, CEO Jeffrey A. Howard sold 10,000 shares of the company's 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 completion of the sale, the chief executive officer owned 663,265 shares in the company, valued at $68,322,927.65. This represents a 1.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO William Mccamey sold 10,000 shares of the firm's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $103.01, for a total transaction of $1,030,100.00. Following the transaction, the chief financial officer directly owned 127,410 shares in the company, valued at $13,124,504.10. The trade was a 7.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 75,000 shares of company stock valued at $7,868,627 over the last quarter. 51.00% of the stock is owned by 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.

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