Swiss National Bank Makes New Investment in Atlanticus Holdings Corporation $ATLC

Key Points

• The Swiss National Bank invested approximately $583,000 in Atlanticus Holdings Corporation by purchasing 11,400 shares, representing about 0.08% of the company.
• Atlanticus announced a quarterly dividend of $0.4766, with the payment scheduled for September 15th, indicating a 2.9% dividend yield.
• The company's recent earnings report showed earnings per share of $1.51, exceeding analyst estimates, with a projected annual EPS of 4.49 for the current fiscal year.

Swiss National Bank bought a new position in Atlanticus Holdings Corporation (NASDAQ:ATLC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,400 shares of the credit services provider's stock, valued at approximately $583,000. Swiss National Bank owned about 0.08% of Atlanticus at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ATLC. JPMorgan Chase & Co. increased its position in Atlanticus by 3.7% in the 4th quarter. JPMorgan Chase & Co. now owns 5,079 shares of the credit services provider's stock worth $283,000 after purchasing an additional 180 shares during the last quarter. Wells Fargo & Company MN increased its position in Atlanticus by 274.6% in the 4th quarter. Wells Fargo & Company MN now owns 9,316 shares of the credit services provider's stock worth $520,000 after purchasing an additional 6,829 shares during the last quarter. Barclays PLC increased its position in Atlanticus by 11.6% in the 4th quarter. Barclays PLC now owns 9,168 shares of the credit services provider's stock worth $511,000 after purchasing an additional 950 shares during the last quarter. Marshall Wace LLP acquired a new position in Atlanticus in the 4th quarter worth about $233,000. Finally, Tower Research Capital LLC TRC increased its position in Atlanticus by 229.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 728 shares of the credit services provider's stock worth $41,000 after purchasing an additional 507 shares during the last quarter. 14.15% of the stock is owned by institutional investors and hedge funds.

Atlanticus Stock Performance

NASDAQ:ATLC traded down $0.36 during mid-day trading on Tuesday, hitting $66.34. 27,134 shares of the company's stock traded hands, compared to its average volume of 43,097. The firm has a 50 day moving average of $56.77 and a two-hundred day moving average of $53.47. Atlanticus Holdings Corporation has a 12 month low of $30.00 and a 12 month high of $67.60. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 11.66 and a beta of 2.00. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.55.

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

Atlanticus Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 1st will be paid a dividend of $0.4766 per share. This represents a $1.91 annualized dividend and a yield of 2.9%.

Insider Activity at Atlanticus

In other Atlanticus news, Director Deal W. Hudson sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $62.39, for a total value of $124,780.00. Following the completion of the sale, the director owned 61,092 shares in the company, valued at approximately $3,811,529.88. This trade represents a 3.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 51.80% of the company's stock.

Analyst Upgrades and Downgrades

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