Short Interest in Atlanticus Holdings Co. (NASDAQ:ATLC) Decreases By 17.6%

Atlanticus Holdings Co. (NASDAQ:ATLC) was the recipient of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 327,500 shares, a decrease of 17.6% from the May 31st total of 397,300 shares. Based on an average trading volume of 17,500 shares, the short-interest ratio is presently 18.7 days. Approximately 6.9% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ATLC shares. StockNews.com downgraded Atlanticus from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 25th. BTIG Research assumed coverage on shares of Atlanticus in a research note on Friday, June 7th. They set a “buy” rating and a $45.00 price target on the stock. Keefe, Bruyette & Woods started coverage on shares of Atlanticus in a report on Wednesday, May 22nd. They set a “market perform” rating and a $33.00 price objective on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $39.00 target price on shares of Atlanticus in a report on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $39.25.

Insider Buying and Selling at Atlanticus

In related news, major shareholder Frank J. Hanna III purchased 263,432 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was acquired at an average price of $28.21 per share, for a total transaction of $7,431,416.72. Following the completion of the purchase, the insider now directly owns 263,432 shares of the company’s stock, valued at $7,431,416.72. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other news, major shareholder Frank J. Hanna III acquired 263,432 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were bought at an average cost of $28.21 per share, with a total value of $7,431,416.72. Following the purchase, the insider now owns 263,432 shares of the company’s stock, valued at approximately $7,431,416.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Deal W. Hudson sold 1,200 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $26.05, for a total transaction of $31,260.00. Following the completion of the sale, the director now owns 68,655 shares of the company’s stock, valued at approximately $1,788,462.75. The disclosure for this sale can be found here. 51.80% of the stock is owned by company insiders.

Institutional Trading of Atlanticus

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its holdings in Atlanticus by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 602,272 shares of the credit services provider’s stock valued at $23,290,000 after purchasing an additional 7,234 shares in the last quarter. Vanguard Group Inc. lifted 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 buying an additional 2,453 shares during the period. Denali Advisors LLC boosted its position in Atlanticus by 5.2% during the first quarter. Denali Advisors LLC now owns 26,040 shares of the credit services provider’s stock worth $771,000 after acquiring an additional 1,285 shares during the last quarter. Empowered Funds LLC grew its stake in Atlanticus by 7.5% in the 1st quarter. Empowered Funds LLC now owns 15,094 shares of the credit services provider’s stock worth $447,000 after acquiring an additional 1,050 shares during the period. Finally, Swiss National Bank raised its holdings in Atlanticus by 16.5% in the 3rd quarter. Swiss National Bank now owns 12,700 shares of the credit services provider’s stock valued at $385,000 after acquiring an additional 1,800 shares during the last quarter. 14.15% of the stock is currently owned by hedge funds and other institutional investors.

Atlanticus Price Performance

NASDAQ:ATLC traded up $1.27 during mid-day trading on Friday, hitting $28.18. 141,741 shares of the company’s stock traded hands, compared to its average volume of 19,939. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market cap of $416.78 million, a PE ratio of 6.65 and a beta of 1.88. The firm’s 50 day simple moving average is $26.50 and its 200 day simple moving average is $30.55. Atlanticus has a 1 year low of $23.09 and a 1 year high of $43.70.

Atlanticus (NASDAQ:ATLC) last issued its quarterly earnings data on Friday, May 10th. The credit services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.11. The firm had revenue of $290.17 million during the quarter, compared to the consensus estimate of $309.78 million. Atlanticus had a return on equity of 26.67% and a net margin of 8.67%. Sell-side analysts expect that Atlanticus will post 4.52 EPS 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.