Atlanticus (NASDAQ:ATLC) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Atlanticus shares moved above their 200-day moving average, reaching $94.05 before closing at $93.05, compared with a 200-day average of $83.02.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and a $129 price target, despite some upgrades and downgrades. The company also exceeded quarterly earnings and revenue expectations.
• Institutional investors initiated several sizable positions, including BlackRock’s approximately $43.5 million stake, while insiders sold 75,000 shares worth about $7.9 million over the past three months.

Atlanticus Holdings Corporation (NASDAQ:ATLC - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $83.02 and traded as high as $94.05. Atlanticus shares last traded at $93.05, with a volume of 112,633 shares.

Analyst Ratings Changes

ATLC has been the subject of several analyst reports. Texas Capital upgraded Atlanticus from a "hold" rating to a "strong-buy" rating in a report on Monday, July 13th. Zacks Research downgraded Atlanticus from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 13th. Citigroup reiterated an "outperform" rating on shares of Atlanticus in a research note on Thursday, July 16th. HSBC set a $144.00 price target on Atlanticus in a report on Monday, July 13th. Finally, Wall Street Zen lowered Atlanticus from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $129.00.

Atlanticus Stock Performance

The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 12.10 and a beta of 2.02. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average of $97.93 and a 200-day moving average of $83.02.

Atlanticus (NASDAQ:ATLC - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The credit services provider reported $2.50 EPS for the quarter, topping analysts' consensus estimates of $2.42 by $0.08. The company had revenue of $744.31 million during the quarter, compared to analysts' expectations of $716.35 million. Atlanticus had a return on equity of 25.17% and a net margin of 5.80%. As a group, sell-side analysts predict that Atlanticus Holdings Corporation will post 9.73 earnings per share for the current year.

Insider Transactions at Atlanticus

In other Atlanticus news, 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 transaction of $1,030,100.00. Following the completion of the transaction, the chief executive officer directly owned 663,265 shares of the company's stock, valued at approximately $68,322,927.65. This trade represents a 1.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Mitchell Saunders sold 10,000 shares of Atlanticus stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $102.20, for a total transaction of $1,022,000.00. Following the sale, the chief accounting officer owned 46,273 shares of the company's stock, valued at approximately $4,729,100.60. The trade was a 17.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 75,000 shares of company stock worth $7,868,627. 51.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Atlanticus during the second quarter valued at approximately $43,535,000. Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of Atlanticus during the 2nd quarter worth approximately $9,161,293. Denali Advisors LLC acquired a new stake in shares of Atlanticus during the 2nd quarter worth approximately $2,032,000. Bank of New York Mellon Corp purchased a new position in shares of Atlanticus during the 2nd quarter valued at approximately $2,281,000. Finally, Susquehanna International Group LLP purchased a new position in shares of Atlanticus during the 2nd quarter valued at approximately $1,500,000. Hedge funds and other institutional investors own 14.15% of the company's stock.

About Atlanticus

Atlanticus Holdings Corporation is a financial technology company that provides credit and related financial services to consumers, particularly those who may have limited access to traditional lending products. The company works with merchants, financial institutions and other business partners to offer financing options at the point of sale and through direct-to-consumer channels.

Its consumer finance activities include retail credit programs, private-label and general-purpose credit cards, personal lending products and other installment financing.

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