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

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

Several other institutional investors have also modified their holdings of the stock. Rhumbline Advisers increased its position in shares of Atlanticus by 9.3% during the 2nd quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock valued at $229,000 after purchasing an additional 690 shares during the last quarter. Squarepoint Ops LLC boosted its stake in Atlanticus by 9.3% during the second quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock worth $234,000 after buying an additional 704 shares during the period. Finally, Empowered Funds LLC boosted its stake in Atlanticus by 5.0% during the third quarter. Empowered Funds LLC now owns 16,978 shares of the credit services provider’s stock worth $596,000 after buying an additional 804 shares during the period. 14.15% of the stock is owned by institutional investors.

Atlanticus Trading Down 2.1 %

Shares of ATLC opened at $56.31 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market capitalization of $829.95 million, a price-to-earnings ratio of 12.65 and a beta of 2.05. The company has a 50-day moving average of $48.91 and a 200 day moving average of $38.01. Atlanticus Holdings Co. has a 1-year low of $23.09 and a 1-year high of $64.70.

Atlanticus (NASDAQ:ATLC) last posted its quarterly earnings results on Thursday, November 7th. The credit services provider reported $1.27 earnings per share 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 firm had revenue of $351.22 million during the quarter, compared to the consensus estimate of $326.64 million. On average, research analysts expect that Atlanticus Holdings Co. will post 4.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ATLC shares. B. Riley raised their target price on shares of Atlanticus from $50.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. BTIG Research raised their price objective on shares of Atlanticus from $45.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Stephens began coverage on Atlanticus in a research report on Wednesday, November 13th. They set an “overweight” rating and a $54.00 target price for the company. Finally, JMP Securities increased their price target on Atlanticus from $54.00 to $75.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Atlanticus currently has a consensus rating of “Buy” and a consensus price target of $57.20.

Insider Buying and Selling at Atlanticus

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

Atlanticus 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.