Atlanticus (NASDAQ:ATLC) Sees Unusually-High Trading Volume – Here’s What Happened

Atlanticus Holdings Co. (NASDAQ:ATLC) shares saw an uptick in trading volume on Monday . 27,742 shares changed hands during mid-day trading, an increase of 61% from the previous session’s volume of 17,228 shares.The stock last traded at $51.00 and had previously closed at $48.58.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ATLC. StockNews.com raised shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. JMP Securities upped their price target on Atlanticus from $45.00 to $54.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. BTIG Research lifted their target price on Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Stephens initiated coverage on shares of Atlanticus in a research report on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 price target on the stock. One investment 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’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $48.75.

Atlanticus Trading Up 1.5 %

The firm has a market cap of $758.67 million, a price-to-earnings ratio of 11.87 and a beta of 1.92. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The business’s fifty day moving average is $37.47 and its two-hundred day moving average is $32.73.

Atlanticus (NASDAQ:ATLC) last posted its earnings results on Thursday, November 7th. The credit services provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.04. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. The company had revenue of $351.22 million for the quarter, compared to analyst estimates of $326.64 million. Equities analysts anticipate that Atlanticus Holdings Co. will post 4.41 earnings per share for the current fiscal year.

Insider Activity at Atlanticus

In other news, Director Denise M. Harrod sold 1,141 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $49.00, for a total transaction of $55,909.00. Following the completion of the transaction, the director now directly owns 5,659 shares in the company, valued at approximately $277,291. This represents a 16.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Deal W. Hudson sold 1,200 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 67,455 shares in the company, valued at approximately $2,209,151.25. This represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,200 shares of company stock valued at $191,175. Insiders own 51.80% of the company’s stock.

Hedge Funds Weigh In On Atlanticus

A number of large investors have recently modified their holdings of ATLC. Vanguard Group Inc. boosted its holdings in Atlanticus by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider’s stock worth $7,655,000 after acquiring an additional 2,453 shares during the last quarter. Geode Capital Management LLC grew its position in Atlanticus by 2.0% in 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. State Street Corp increased its stake in Atlanticus by 2.4% in the 3rd quarter. State Street Corp now owns 93,431 shares of the credit services provider’s stock valued at $3,278,000 after buying an additional 2,212 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Atlanticus during the 3rd quarter worth approximately $1,654,000. Finally, Empowered Funds LLC grew its holdings in shares of Atlanticus by 5.0% in the third quarter. Empowered Funds LLC now owns 16,978 shares of the credit services provider’s stock valued at $596,000 after acquiring an additional 804 shares in the last quarter. 14.15% of the stock is currently owned by institutional investors.

Atlanticus Company Profile

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.