Principal Financial Group Inc. Cuts Stock Position in Atlanticus Holdings Co. (NASDAQ:ATLC)

Principal Financial Group Inc. lessened its holdings in Atlanticus Holdings Co. (NASDAQ:ATLCGet Rating) by 34.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 3,983 shares of the credit services provider’s stock after selling 2,100 shares during the quarter. Principal Financial Group Inc.’s holdings in Atlanticus were worth $206,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Los Angeles Capital Management LLC grew its position in shares of Atlanticus by 238.4% during the first quarter. Los Angeles Capital Management LLC now owns 31,172 shares of the credit services provider’s stock valued at $1,614,000 after purchasing an additional 21,960 shares in the last quarter. Anchor Capital Advisors LLC purchased a new position in shares of Atlanticus during the first quarter valued at about $1,012,000. Russell Investments Group Ltd. grew its position in shares of Atlanticus by 167.9% during the first quarter. Russell Investments Group Ltd. now owns 5,893 shares of the credit services provider’s stock valued at $305,000 after purchasing an additional 3,693 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Atlanticus by 25.0% during the first quarter. Janney Montgomery Scott LLC now owns 20,628 shares of the credit services provider’s stock valued at $1,068,000 after purchasing an additional 4,125 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Atlanticus by 15.9% during the first quarter. Victory Capital Management Inc. now owns 6,641 shares of the credit services provider’s stock valued at $286,000 after purchasing an additional 909 shares in the last quarter. Hedge funds and other institutional investors own 14.88% of the company’s stock.

Atlanticus Trading Down 1.7 %

ATLC opened at $27.49 on Monday. The firm has a market cap of $398.03 million, a P/E ratio of 3.66 and a beta of 1.61. Atlanticus Holdings Co. has a 12 month low of $25.65 and a 12 month high of $91.98. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average of $37.10 and a 200 day moving average of $42.58.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ATLC. JMP Securities cut their price objective on Atlanticus from $70.00 to $60.00 and set a “market outperform” rating for the company in a research report on Friday, July 15th. TheStreet lowered Atlanticus from a “b-” rating to a “c+” rating in a research report on Wednesday, August 24th. Finally, B. Riley dropped their price target on Atlanticus from $75.00 to $53.00 in a research report on Monday, May 16th.

Insider Buying and Selling

In related news, CFO William Mccamey sold 900 shares of Atlanticus stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $37.63, for a total value of $33,867.00. Following the completion of the transaction, the chief financial officer now owns 19,100 shares in the company, valued at $718,733. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 53.50% of the stock is currently owned by company insiders.

Atlanticus Company Profile

(Get Rating)

Atlanticus Holdings Corporation 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, educational services, and home-improvements by partnering with retailers and service providers.

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Institutional Ownership by Quarter for Atlanticus (NASDAQ:ATLC)

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