Atlanticus Holdings Co. (NASDAQ:ATLC) Short Interest Down 9.6% in November

Atlanticus Holdings Co. (NASDAQ:ATLC) was the target of a significant decrease in short interest in November. As of November 15th, there was short interest totalling 289,700 shares, a decrease 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. Currently, 6.1% of the company’s stock are sold short.

Analyst Ratings Changes

ATLC has been the topic of several recent research reports. StockNews.com upgraded Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. B. Riley lifted their price target on shares of Atlanticus from $50.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. BTIG Research upped their price objective on shares of Atlanticus from $45.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Stephens began coverage on shares of Atlanticus in a report on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 target price on the stock. Finally, JMP Securities upped their price target on shares of Atlanticus from $45.00 to $54.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $53.00.

Atlanticus Price Performance

Atlanticus stock remained flat at $58.26 during mid-day trading on Monday. 11,423 shares of the company’s stock were exchanged, compared to its average volume of 18,379. The stock’s 50 day simple moving average is $41.21 and its 200 day simple moving average is $34.34. Atlanticus has a 12-month low of $23.09 and a 12-month high of $59.17. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. The stock has a market cap of $858.69 million, a price-to-earnings ratio of 13.09 and a beta of 1.92.

Atlanticus (NASDAQ:ATLC) last released its 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 business had revenue of $351.22 million for the quarter, compared to the consensus estimate of $326.64 million. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. On average, analysts predict that Atlanticus will post 4.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Deal W. Hudson sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $32.75, for a total transaction of $39,300.00. Following the transaction, the director now owns 67,455 shares of the company’s stock, valued at approximately $2,209,151.25. This trade represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mitchell Saunders sold 16,004 shares of the stock in a transaction on 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 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. Over the last three months, insiders sold 21,204 shares of company stock worth $1,080,197. 51.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. FMR LLC increased its holdings in Atlanticus by 393.1% in 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 during the period. MetLife Investment Management LLC lifted its stake in Atlanticus by 158.8% during the third quarter. MetLife Investment Management LLC now owns 2,971 shares of the credit services provider’s stock worth $104,000 after purchasing an additional 1,823 shares during the period. Rhumbline Advisers boosted its holdings in Atlanticus by 9.3% during the second quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock valued at $229,000 after purchasing an additional 690 shares in the last quarter. Barclays PLC boosted its holdings in Atlanticus by 285.6% during the third quarter. Barclays PLC now owns 8,218 shares of the credit services provider’s stock valued at $289,000 after purchasing an additional 6,087 shares in the last quarter. Finally, Squarepoint Ops LLC grew its stake in shares of Atlanticus by 9.3% in the 2nd quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock valued at $234,000 after purchasing an additional 704 shares during the period. 14.15% of the stock is currently owned by institutional investors and hedge funds.

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.