Wellington Management Group LLP Raises Holdings 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 increased its stake in shares of Atlanticus Holdings Corporation (NASDAQ:ATLC - Free Report) by 198.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 365,278 shares of the credit services provider's stock after buying an additional 243,053 shares during the quarter. Wellington Management Group LLP owned about 2.42% of Atlanticus worth $18,684,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its position in Atlanticus by 82.4% during the first quarter. American Century Companies Inc. now owns 95,476 shares of the credit services provider's stock worth $4,884,000 after buying an additional 43,142 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Atlanticus during the first quarter worth approximately $2,588,000. Bridgeway Capital Management LLC lifted its position in Atlanticus by 48.6% during the fourth quarter. Bridgeway Capital Management LLC now owns 27,614 shares of the credit services provider's stock worth $1,540,000 after buying an additional 9,026 shares in the last quarter. Millennium Management LLC purchased a new position in Atlanticus during the fourth quarter worth approximately $987,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Atlanticus by 3.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 15,751 shares of the credit services provider's stock worth $806,000 after buying an additional 561 shares in the last quarter. Hedge funds and other institutional investors own 14.15% of the company's stock.

Insider Transactions at Atlanticus

In related news, Director Deal W. Hudson sold 2,000 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $62.39, for a total transaction of $124,780.00. Following the transaction, the director owned 61,092 shares of the company's stock, valued at approximately $3,811,529.88. This represents a 3.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 51.80% of the company's stock.

Atlanticus Trading Down 0.2%

NASDAQ:ATLC traded down $0.13 on Friday, reaching $66.70. The company's stock had a trading volume of 20,933 shares, compared to its average volume of 44,717. Atlanticus Holdings Corporation has a 12-month low of $30.00 and a 12-month high of $67.60. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.55. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 11.72 and a beta of 2.00. The stock has a 50 day moving average price of $56.15 and a 200 day moving average price of $53.34.

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

Atlanticus Announces Dividend

The company 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%.

Analysts Set New Price Targets

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

Atlanticus 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.