Fmr LLC Increases Stake in Atlanticus Holdings Co. (NASDAQ:ATLC)

Fmr LLC grew its position in Atlanticus Holdings Co. (NASDAQ:ATLC) by 393.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,283 shares of the credit services provider’s stock after buying an additional 1,820 shares during the period. Fmr LLC’s holdings in Atlanticus were worth $80,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ATLC. Empowered Funds LLC increased its position in shares of Atlanticus by 5.0% during 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. Squarepoint Ops LLC boosted its stake in 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 purchasing an additional 704 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Atlanticus by 9.3% in the 2nd quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock worth $229,000 after purchasing an additional 690 shares in the last quarter. Institutional investors own 14.15% of the company’s stock.

Insider Transactions at Atlanticus

In related news, Director Denise M. Harrod sold 1,141 shares of Atlanticus 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 transaction, the director now owns 5,659 shares in the company, valued at approximately $277,291. The trade was a 16.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mitchell Saunders sold 16,004 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $55.55, for a total transaction of $889,022.20. Following the completion of the transaction, the chief accounting officer now directly owns 50,973 shares of the company’s stock, valued at $2,831,550.15. This represents a 23.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,504 shares of company stock worth $962,522 in the last three months. Corporate insiders own 51.80% of the company’s stock.

Wall Street Analysts Forecast Growth

ATLC has been the topic of a number of research analyst reports. BTIG Research upped their price target on Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. JMP Securities upped their target price on shares of Atlanticus from $54.00 to $75.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 3rd. B. Riley lifted their price target on shares of Atlanticus from $50.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Stephens started coverage on shares of Atlanticus in a report on Wednesday, November 13th. They set an “overweight” rating and a $54.00 price objective for the company. 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 company. According to MarketBeat, Atlanticus presently has an average rating of “Buy” and an average price target of $57.20.

Atlanticus Trading Down 2.1 %

Atlanticus stock opened at $56.31 on Tuesday. Atlanticus Holdings Co. has a 52-week low of $23.09 and a 52-week high of $64.70. The company has a market cap of $829.95 million, a P/E ratio of 12.65 and a beta of 2.05. 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 has a 50-day simple moving average of $48.91 and a two-hundred day simple moving average of $38.01.

Atlanticus (NASDAQ:ATLC) last announced its 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. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. The company had revenue of $351.22 million during the quarter, compared to analyst estimates of $326.64 million. Analysts predict that Atlanticus Holdings Co. will post 4.47 EPS for the current year.

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.