Russell Investments Group Ltd. Buys 3,458 Shares of Atlanticus Holdings Corporation $ATLC

Russell Investments Group Ltd. lifted its stake in Atlanticus Holdings Corporation (NASDAQ:ATLC) by 39.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,195 shares of the credit services provider’s stock after purchasing an additional 3,458 shares during the quarter. Russell Investments Group Ltd. owned about 0.08% of Atlanticus worth $624,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of ATLC. Tower Research Capital LLC TRC lifted its position in Atlanticus by 229.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 728 shares of the credit services provider’s stock worth $41,000 after buying an additional 507 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Atlanticus in the 1st quarter worth about $56,000. US Bancorp DE purchased a new position in shares of Atlanticus during the 1st quarter worth about $74,000. State of Tennessee Department of Treasury bought a new position in Atlanticus during the 4th quarter valued at about $143,000. Finally, Two Sigma Advisers LP purchased a new stake in Atlanticus in the 4th quarter worth about $201,000. Hedge funds and other institutional investors own 14.15% of the company’s stock.

Atlanticus Stock Performance

Atlanticus stock opened at $66.70 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market capitalization of $1.01 billion, a PE ratio of 11.72 and a beta of 1.93. The company has a 50 day moving average price of $56.15 and a 200-day moving average price of $53.38. Atlanticus Holdings Corporation has a fifty-two week low of $30.00 and a fifty-two week high of $67.60.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings data on Thursday, August 7th. The credit services provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.21. The company had revenue of $393.82 million for the quarter, compared to analysts’ expectations of $373.87 million. Atlanticus had a return on equity of 24.20% and a net margin of 8.51%. As a group, equities analysts forecast that Atlanticus Holdings Corporation will post 4.49 earnings per share for the current year.

Atlanticus Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be given a dividend of $0.4766 per share. This represents a $1.91 dividend on an annualized basis and a dividend yield of 2.9%.

Analysts Set New Price Targets

Several research analysts have issued reports on ATLC shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $60.00 target price (up previously from $52.00) on shares of Atlanticus in a research report on Monday, May 12th. JMP Securities raised their price target on Atlanticus from $75.00 to $78.00 and gave the stock a “market outperform” rating in a research note on Tuesday, August 12th. Finally, Wall Street Zen upgraded Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $63.20.

Insider Activity at Atlanticus

In related news, Director Deal W. Hudson sold 2,000 shares of Atlanticus stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $62.39, for a total value of $124,780.00. Following the completion of the sale, the director directly owned 61,092 shares in the company, valued at $3,811,529.88. The trade was a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 50.40% of the company’s stock.

Atlanticus Company 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.