Bank of New York Mellon Corp Sells 3,367 Shares of Atlanticus Holdings Co. (NASDAQ:ATLC)

Bank of New York Mellon Corp lowered its position in Atlanticus Holdings Co. (NASDAQ:ATLC) by 10.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,606 shares of the credit services provider’s stock after selling 3,367 shares during the period. Bank of New York Mellon Corp owned 0.20% of Atlanticus worth $1,651,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Atlanticus by 2.0% in the third quarter. Geode Capital Management LLC now owns 122,501 shares of the credit services provider’s stock worth $4,298,000 after acquiring an additional 2,348 shares in the last quarter. State Street Corp raised its stake in shares of Atlanticus by 2.4% in the third quarter. State Street Corp now owns 93,431 shares of the credit services provider’s stock worth $3,278,000 after purchasing an additional 2,212 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Atlanticus in the third quarter worth approximately $1,654,000. Empowered Funds LLC raised its stake in shares of Atlanticus by 53.2% in the fourth quarter. Empowered Funds LLC now owns 26,004 shares of the credit services provider’s stock worth $1,451,000 after purchasing an additional 9,026 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Atlanticus in the third quarter worth approximately $313,000. Institutional investors own 14.15% of the company’s stock.

Atlanticus Stock Performance

Shares of ATLC opened at $50.51 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $763.46 million, a price-to-earnings ratio of 11.35 and a beta of 2.16. The stock has a 50 day moving average of $55.01 and a 200 day moving average of $48.82. Atlanticus Holdings Co. has a 12 month low of $23.10 and a 12 month high of $64.70.

Atlanticus (NASDAQ:ATLC) last issued its quarterly earnings results on Thursday, March 13th. The credit services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.19. The company had revenue of $353.19 million during the quarter, compared to the consensus estimate of $355.02 million. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. As a group, sell-side analysts forecast that Atlanticus Holdings Co. will post 4.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ATLC shares. B. Riley raised Atlanticus to a “strong-buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $52.00 price objective (up from $45.00) on shares of Atlanticus in a research note on Monday, March 17th. Finally, JMP Securities increased their price objective on Atlanticus from $54.00 to $75.00 and gave the stock a “market outperform” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Atlanticus currently has a consensus rating of “Buy” and an average target price of $61.00.

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.