Atlanticus Holdings Co. (NASDAQ:ATLC) Sees Significant Decline in Short Interest

Atlanticus Holdings Co. (NASDAQ:ATLC) saw a significant decrease in short interest in December. As of December 31st, there was short interest totalling 189,800 shares, a decrease of 32.7% from the December 15th total of 282,000 shares. Based on an average daily volume of 41,300 shares, the days-to-cover ratio is presently 4.6 days. Currently, 3.9% of the shares of the company are sold short.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JMP Securities raised their target price on shares of Atlanticus from $54.00 to $75.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 3rd. Stephens began coverage on Atlanticus in a report on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 target price on the stock. BTIG Research upped their target price on Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, B. Riley raised Atlanticus to a “strong-buy” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $57.20.

Insider Transactions at Atlanticus

In other news, Director Denise M. Harrod sold 1,141 shares of Atlanticus stock in a transaction on Friday, November 15th. The stock was sold at an average price of $49.00, for a total transaction of $55,909.00. Following the transaction, the director now directly owns 5,659 shares in the company, valued at approximately $277,291. This trade represents a 16.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mitchell Saunders sold 16,004 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $55.55, for a total transaction of $889,022.20. Following the completion of the sale, the chief accounting officer now owns 50,973 shares in the company, valued at approximately $2,831,550.15. This trade represents a 23.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,504 shares of company stock valued at $962,522. 51.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atlanticus

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in shares of Atlanticus in the fourth quarter worth $129,000. Barclays PLC increased its position in Atlanticus by 285.6% in the 3rd quarter. Barclays PLC now owns 8,218 shares of the credit services provider’s stock worth $289,000 after purchasing an additional 6,087 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Atlanticus by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 122,501 shares of the credit services provider’s stock worth $4,298,000 after purchasing an additional 2,348 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Atlanticus during the 3rd quarter valued at about $313,000. Finally, Wellington Management Group LLP bought a new stake in shares of Atlanticus in the 3rd quarter valued at approximately $1,654,000. Institutional investors and hedge funds own 14.15% of the company’s stock.

Atlanticus Stock Down 1.7 %

Shares of ATLC stock traded down $1.00 on Friday, reaching $58.61. 70,625 shares of the company’s stock traded hands, compared to its average volume of 53,766. The business’s 50 day moving average price is $56.12 and its two-hundred day moving average price is $41.75. The company has a market capitalization of $863.85 million, a P/E ratio of 13.17 and a beta of 2.05. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. Atlanticus has a 12-month low of $23.09 and a 12-month high of $64.70.

Atlanticus (NASDAQ:ATLC) last posted its quarterly earnings results on Thursday, November 7th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.04. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. The business had revenue of $351.22 million during the quarter, compared to analyst estimates of $326.64 million. On average, equities analysts forecast that Atlanticus will post 4.49 earnings per share for the current year.

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.