Insider Selling: Atlanticus Holdings Co. (NASDAQ:ATLC) Director Sells 359 Shares of Stock

Atlanticus Holdings Co. (NASDAQ:ATLC) Director Denise M. Harrod sold 359 shares of Atlanticus stock in a transaction on Monday, November 18th. The stock was sold at an average price of $49.00, for a total value of $17,591.00. Following the sale, the director now owns 5,300 shares in the company, valued at $259,700. This trade represents a 6.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Atlanticus Stock Performance

Atlanticus stock traded up $1.01 during midday trading on Monday, reaching $49.59. The stock had a trading volume of 68,653 shares, compared to its average volume of 17,422. The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $730.96 million, a PE ratio of 11.14 and a beta of 1.92. Atlanticus Holdings Co. has a 12 month low of $23.09 and a 12 month high of $51.48. The firm’s 50-day moving average price is $37.07 and its 200 day moving average price is $32.56.

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, beating the consensus estimate of $1.23 by $0.04. The company 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%. As a group, research analysts predict that Atlanticus Holdings Co. will post 4.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on ATLC. StockNews.com upgraded Atlanticus from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Stephens started coverage on shares of Atlanticus in a research report on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 price objective on the stock. BTIG Research boosted their target price on shares of Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, JMP Securities raised their price target on shares of Atlanticus from $45.00 to $54.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $48.75.

Hedge Funds Weigh In On Atlanticus

Large investors have recently made changes to their positions in the stock. FMR LLC lifted its holdings in Atlanticus by 393.1% during the 3rd quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock worth $80,000 after purchasing an additional 1,820 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Atlanticus by 65.5% during 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. MetLife Investment Management LLC lifted its holdings in shares of Atlanticus by 158.8% in the third quarter. MetLife Investment Management LLC now owns 2,971 shares of the credit services provider’s stock worth $104,000 after buying an additional 1,823 shares in the last quarter. Rhumbline Advisers boosted its position in shares of 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 acquiring an additional 690 shares during the period. Finally, Barclays PLC grew its stake in Atlanticus by 285.6% during the third quarter. Barclays PLC now owns 8,218 shares of the credit services provider’s stock valued at $289,000 after acquiring an additional 6,087 shares in the last quarter. 14.15% of the stock is owned by institutional investors.

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.