Wellington Management Group LLP Raises Position in Atlanticus Holdings Corporation $ATLC

Key Points

• Wellington Management Group LLP increased its stake in Atlanticus Holdings Corporation by 198.9%, owning approximately 2.42% of the company with shares valued at $18.68 million.
• Atlanticus announced a quarterly dividend of $0.4766 per share, which will be paid on September 15, representing a 2.9% yield for shareholders.
• The stock recently reported $1.51 earnings per share for the last quarter, surpassing analysts' expectations, with a consensus rating of "Buy" from equity research analysts.

Wellington Management Group LLP raised its holdings in shares of Atlanticus Holdings Corporation (NASDAQ:ATLC - Free Report) by 198.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 365,278 shares of the credit services provider's stock after acquiring an additional 243,053 shares during the quarter. Wellington Management Group LLP owned approximately 2.42% of Atlanticus worth $18,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Atlanticus by 3.7% in the 4th quarter. JPMorgan Chase & Co. now owns 5,079 shares of the credit services provider's stock valued at $283,000 after acquiring an additional 180 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Atlanticus by 274.6% during the 4th quarter. Wells Fargo & Company MN now owns 9,316 shares of the credit services provider's stock valued at $520,000 after purchasing an additional 6,829 shares during the last quarter. Barclays PLC boosted 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 valued at $511,000 after buying an additional 950 shares during the period. Marshall Wace LLP purchased a new stake in shares of Atlanticus in the 4th quarter worth approximately $233,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of 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 period. Hedge funds and other institutional investors own 14.15% of the company's stock.

Insider Activity

In other Atlanticus news, Director Deal W. Hudson sold 2,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $62.39, for a total transaction of $124,780.00. Following the sale, the director directly owned 61,092 shares of the company's stock, valued at $3,811,529.88. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 50.40% of the stock is owned by corporate insiders.

Atlanticus Trading Down 0.3%

Shares of ATLC stock opened at $65.37 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.38 and a current ratio of 1.38. Atlanticus Holdings Corporation has a fifty-two week low of $30.00 and a fifty-two week high of $66.99. The stock has a market capitalization of $988.72 million, a P/E ratio of 11.49 and a beta of 1.93. The company has a 50 day moving average price of $54.86 and a 200 day moving average price of $53.11.

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

Atlanticus Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on ATLC. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $60.00 price target (up previously from $52.00) on shares of Atlanticus in a report on Monday, May 12th. Wall Street Zen upgraded shares of Atlanticus from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, JMP Securities raised their price target on shares of Atlanticus from $75.00 to $78.00 and gave the company 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $63.20.

About Atlanticus

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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