Los Angeles Capital Management LLC Decreases Stock Holdings in Atlanticus Holdings Co. (NASDAQ:ATLC)

Posted by Defense World Staff on Jan 24th, 2023

Los Angeles Capital Management LLC trimmed its holdings in Atlanticus Holdings Co. (NASDAQ:ATLC – Get Rating) by 6.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,361 shares of the credit services provider’s stock after selling 3,019 shares during the quarter. Los Angeles Capital Management LLC owned about 0.30% of Atlanticus worth $1,137,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ATLC. Brandywine Global Investment Management LLC purchased a new position in Atlanticus in the 2nd quarter worth approximately $670,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Atlanticus during the 1st quarter worth approximately $715,000. Invesco Ltd. increased its holdings in shares of Atlanticus by 105.0% during the 1st quarter. Invesco Ltd. now owns 18,845 shares of the credit services provider’s stock worth $976,000 after buying an additional 9,652 shares during the last quarter. Sawtooth Solutions LLC acquired a new stake in shares of Atlanticus during the 3rd quarter worth approximately $227,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Atlanticus during the 2nd quarter worth approximately $281,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JMP Securities cut their price target on shares of Atlanticus from $50.00 to $42.00 and set a “market outperform” rating for the company in a report on Friday, January 13th. StockNews.com assumed coverage on shares of Atlanticus in a report on Wednesday, October 12th. They set a “buy” rating for the company. Finally, B. Riley restated a “buy” rating and set a $50.00 price target on shares of Atlanticus in a report on Friday, October 7th.

Insider Activity at Atlanticus

In other Atlanticus news, Director Deal W. Hudson sold 16,313 shares of the firm’s stock in a transaction that occurred on Friday, January 20th. The shares were sold at an average price of $30.65, for a total value of $499,993.45. Following the completion of the transaction, the director now owns 75,452 shares of the company’s stock, valued at approximately $2,312,603.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Atlanticus news, Chairman David G. Hanna purchased 325,000 shares of the firm’s stock in a transaction on Wednesday, December 7th. The stock was bought at an average price of $27.15 per share, with a total value of $8,823,750.00. Following the transaction, the chairman now directly owns 325,000 shares of the company’s stock, valued at approximately $8,823,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Deal W. Hudson sold 16,313 shares of the firm’s stock in a transaction that occurred on Friday, January 20th. The shares were sold at an average price of $30.65, for a total transaction of $499,993.45. Following the completion of the transaction, the director now directly owns 75,452 shares of the company’s stock, valued at approximately $2,312,603.80. The disclosure for this sale can be found here. 53.50% of the stock is owned by insiders.

Atlanticus Stock Down 0.0 %

Atlanticus stock opened at $30.64 on Tuesday. Atlanticus Holdings Co. has a fifty-two week low of $23.15 and a fifty-two week high of $72.38. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.39 and a current ratio of 1.39. The firm has a 50 day moving average price of $27.42 and a 200 day moving average price of $30.06. The company has a market capitalization of $442.59 million, a PE ratio of 4.40 and a beta of 1.64.

Atlanticus (NASDAQ:ATLC – Get Rating) last posted its earnings results on Tuesday, November 8th. The credit services provider reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.01. Atlanticus had a net margin of 16.24% and a return on equity of 55.90%. The firm had revenue of $277.87 million during the quarter, compared to the consensus estimate of $292.80 million. Research analysts expect that Atlanticus Holdings Co. will post 6.35 earnings per share for the current year.

Atlanticus Profile

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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.