Atlanticus (NASDAQ:ATLC) Sees Large Volume Increase

Atlanticus Holdings Co. (NASDAQ:ATLC) shares saw unusually-high trading volume on Friday . Approximately 10,994 shares traded hands during mid-day trading, a decline of 34% from the previous session’s volume of 16,733 shares.The stock last traded at $34.80 and had previously closed at $35.55.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ATLC. StockNews.com upgraded shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. JMP Securities reissued a “market outperform” rating and set a $39.00 price target on shares of Atlanticus in a research report on Tuesday, May 28th. Finally, BTIG Research assumed coverage on Atlanticus in a research note on Friday, June 7th. They set a “buy” rating and a $45.00 price objective on the stock.

Atlanticus Price Performance

The business’s 50 day simple moving average is $33.26 and its 200-day simple moving average is $29.74. The stock has a market capitalization of $517.57 million, a price-to-earnings ratio of 8.25 and a beta of 1.93. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.46.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings data on Thursday, August 8th. The credit services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.12. Atlanticus had a net margin of 8.42% and a return on equity of 25.32%. The business had revenue of $315.64 million for the quarter, compared to analysts’ expectations of $309.74 million. On average, research analysts forecast that Atlanticus Holdings Co. will post 4.54 earnings per share for the current year.

Insider Activity

In related news, Director Deal W. Hudson sold 1,200 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $32.75, for a total value of $39,300.00. Following the sale, the director now directly owns 67,455 shares of the company’s stock, valued at $2,209,151.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Atlanticus news, Director Deal W. Hudson sold 1,200 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $32.75, for a total transaction of $39,300.00. Following the completion of the transaction, the director now owns 67,455 shares of the company’s stock, valued at $2,209,151.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Deal W. Hudson sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $31.35, for a total transaction of $78,375.00. Following the completion of the sale, the director now owns 64,955 shares in the company, valued at $2,036,339.25. The disclosure for this sale can be found here. Corporate insiders own 51.80% of the company’s stock.

Institutional Trading of Atlanticus

A number of hedge funds and other institutional investors have recently modified their holdings of ATLC. Squarepoint Ops LLC boosted its holdings in shares of Atlanticus by 9.3% during the 2nd quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock valued at $234,000 after acquiring an additional 704 shares in the last quarter. Rhumbline Advisers raised its position in Atlanticus by 9.3% in the second quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock valued at $229,000 after purchasing an additional 690 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Atlanticus by 1.0% during the first quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider’s stock valued at $7,655,000 after purchasing an additional 2,453 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Atlanticus by 7.5% during the first quarter. Empowered Funds LLC now owns 15,094 shares of the credit services provider’s stock worth $447,000 after purchasing an additional 1,050 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Atlanticus by 65.5% in the first quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock valued at $69,000 after buying an additional 920 shares during the period. Institutional investors own 14.15% of the company’s stock.

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.