Atlanticus Holdings Co. (NASDAQ:ATLC) Short Interest Update

Atlanticus Holdings Co. (NASDAQ:ATLC) was the target of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 289,700 shares, a decline of 9.6% from the October 31st total of 320,500 shares. Based on an average daily volume of 21,400 shares, the days-to-cover ratio is presently 13.5 days. Approximately 6.1% of the company’s shares are short sold.

Analysts Set New Price Targets

A number of research analysts have issued reports on ATLC shares. BTIG Research lifted their price objective on Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. JMP Securities upped their price target on shares of Atlanticus from $45.00 to $54.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. B. Riley raised their price objective 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. Stephens initiated coverage on shares of Atlanticus in a research note on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 target price on the stock. Finally, StockNews.com upgraded shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. One equities research 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. According to MarketBeat, Atlanticus currently has an average rating of “Buy” and an average price target of $53.00.

Atlanticus Price Performance

Shares of NASDAQ:ATLC opened at $59.15 on Tuesday. The firm’s 50 day moving average price is $41.21 and its 200-day moving average price is $34.34. 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 stock has a market capitalization of $871.81 million, a PE ratio of 13.29 and a beta of 1.92. Atlanticus has a twelve month low of $23.09 and a twelve month high of $59.59.

Atlanticus (NASDAQ:ATLC) last issued its quarterly 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 business had revenue of $351.22 million for the quarter, compared to analysts’ expectations of $326.64 million. Equities research analysts expect that Atlanticus will post 4.47 EPS for the current year.

Insider Buying and Selling at Atlanticus

In related news, Director Denise M. Harrod sold 1,141 shares of the 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 completion of the transaction, the director now directly owns 5,659 shares in the company, valued at $277,291. This trade represents a 16.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mitchell Saunders sold 16,004 shares of the company’s 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 completion of the sale, the chief accounting officer now owns 50,973 shares in the company, 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. In the last ninety days, insiders have sold 21,204 shares of company stock valued at $1,080,197. 51.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ATLC. Rhumbline Advisers increased its holdings in 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 acquiring an additional 690 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of Atlanticus by 9.3% in the second quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock worth $234,000 after purchasing an additional 704 shares during the period. Empowered Funds LLC raised its position in shares of Atlanticus by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 16,978 shares of the credit services provider’s stock valued at $596,000 after purchasing an additional 804 shares during the period. FMR LLC lifted its stake in shares of Atlanticus by 393.1% during the 3rd quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock valued at $80,000 after buying an additional 1,820 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its holdings 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. Institutional investors own 14.15% of the company’s stock.

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.