Atlanticus Holdings Co. (NASDAQ:ATLC) CAO Mitchell Saunders Sells 16,004 Shares

Atlanticus Holdings Co. (NASDAQ:ATLC) CAO Mitchell Saunders sold 16,004 shares of Atlanticus stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $55.55, for a total value of $889,022.20. Following the sale, the chief accounting officer now owns 50,973 shares in the company, valued at $2,831,550.15. The trade was a 23.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Atlanticus Price Performance

Shares of ATLC stock traded up $0.86 during trading hours on Friday, hitting $55.16. 67,947 shares of the company’s stock were exchanged, compared to its average volume of 17,940. The company has a market capitalization of $813.06 million, a PE ratio of 12.40 and a beta of 1.92. The business’s 50 day simple moving average is $38.83 and its 200-day simple moving average is $33.20. Atlanticus Holdings Co. has a 12-month low of $23.09 and a 12-month high of $56.42. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59.

Atlanticus (NASDAQ:ATLC) last announced 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. The business had revenue of $351.22 million for the quarter, compared to analyst estimates of $326.64 million. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. On average, equities research analysts anticipate that Atlanticus Holdings Co. will post 4.41 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Atlanticus by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider’s stock worth $7,655,000 after purchasing an additional 2,453 shares during the period. Geode Capital Management LLC boosted its position in Atlanticus by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 122,501 shares of the credit services provider’s stock valued at $4,298,000 after acquiring an additional 2,348 shares in the last quarter. State Street Corp grew its holdings in shares of Atlanticus by 2.4% during the 3rd quarter. State Street Corp now owns 93,431 shares of the credit services provider’s stock worth $3,278,000 after acquiring an additional 2,212 shares during the period. Wellington Management Group LLP bought a new position in shares of Atlanticus in the 3rd quarter worth approximately $1,654,000. Finally, Empowered Funds LLC lifted its stake in shares of Atlanticus by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 16,978 shares of the credit services provider’s stock valued at $596,000 after purchasing an additional 804 shares during the period. Institutional investors own 14.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. StockNews.com raised Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. BTIG Research lifted their target price on shares of Atlanticus from $45.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Stephens initiated coverage on shares of Atlanticus in a report on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 price objective for the company. JMP Securities raised their price target on Atlanticus from $45.00 to $54.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Finally, B. Riley increased their price objective on Atlanticus from $50.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $53.00.

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.