Geode Capital Management LLC Boosts Holdings in Atlanticus Holdings Co. (NASDAQ:ATLC)

Geode Capital Management LLC grew its position in shares of Atlanticus Holdings Co. (NASDAQ:ATLC) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,501 shares of the credit services provider’s stock after purchasing an additional 2,348 shares during the period. Geode Capital Management LLC’s holdings in Atlanticus were worth $4,298,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Barclays PLC lifted its holdings in shares of Atlanticus by 285.6% in the 3rd 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 during the last quarter. Jane Street Group LLC bought a new stake in Atlanticus during the third quarter worth approximately $313,000. Wellington Management Group LLP bought a new stake in shares of Atlanticus in the 3rd quarter worth about $1,654,000. State Street Corp raised its holdings 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 buying an additional 2,212 shares during the period. Finally, MetLife Investment Management LLC increased its stake in Atlanticus by 158.8% in the 3rd 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 during the period. 14.15% of the stock is owned by institutional investors.

Atlanticus Stock Up 1.6 %

Shares of NASDAQ ATLC opened at $55.73 on Monday. The firm has a market cap of $821.40 million, a price-to-earnings ratio of 12.52 and a beta of 2.05. The company’s 50-day simple moving average is $52.91 and its 200-day simple moving average is $40.10. Atlanticus Holdings Co. has a 52-week low of $23.09 and a 52-week high of $64.70. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59.

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, topping analysts’ consensus estimates of $1.23 by $0.04. The firm 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%. Equities analysts predict that Atlanticus Holdings Co. will post 4.47 EPS for the current fiscal year.

Insider Transactions at Atlanticus

In related news, Director Denise M. Harrod sold 1,141 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $49.00, for a total value of $55,909.00. Following the sale, the director now directly owns 5,659 shares in the company, valued at approximately $277,291. The trade was a 16.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mitchell Saunders sold 16,004 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $55.55, for a total transaction of $889,022.20. Following the transaction, the chief accounting officer now directly owns 50,973 shares of the company’s stock, valued at approximately $2,831,550.15. This trade 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 90 days. Insiders own 51.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Stephens began coverage on shares of Atlanticus in a research report on Wednesday, November 13th. They set an “overweight” rating and a $54.00 target price on the stock. BTIG Research lifted their price objective 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. JMP Securities increased their price objective on shares of Atlanticus from $54.00 to $75.00 and gave the stock a “market outperform” rating in a research note on Tuesday, December 3rd. Finally, B. Riley boosted their target price on shares of Atlanticus from $50.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Atlanticus presently has a consensus rating of “Buy” and an average target price of $57.20.

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.