Atlanticus Holdings Co. (NASDAQ:ATLC) Sees Large Increase in Short Interest

Atlanticus Holdings Co. (NASDAQ:ATLC) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 211,200 shares, a growth of 25.0% from the February 28th total of 168,900 shares. Based on an average trading volume of 59,600 shares, the short-interest ratio is presently 3.5 days. Currently, 4.2% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

ATLC has been the subject of several analyst reports. B. Riley upgraded shares of Atlanticus to a “strong-buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $52.00 price objective (up previously from $45.00) on shares of Atlanticus in a research note on Monday, March 17th. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Atlanticus currently has an average rating of “Buy” and an average price target of $61.00.

Atlanticus Stock Up 3.6 %

Shares of ATLC opened at $52.88 on Thursday. The firm has a fifty day moving average price of $54.03 and a 200-day moving average price of $49.97. 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 firm has a market capitalization of $799.28 million, a P/E ratio of 11.88 and a beta of 2.16. Atlanticus has a 12-month low of $23.10 and a 12-month high of $64.70.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings data on Thursday, March 13th. The credit services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.19. The company had revenue of $353.19 million during the quarter, compared to analysts’ expectations of $355.02 million. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. Equities research analysts expect that Atlanticus will post 4.49 earnings per share for the current year.

Institutional Trading of Atlanticus

Large investors have recently modified their holdings of the company. Wellington Management Group LLP raised its position in Atlanticus by 159.2% during the 4th quarter. Wellington Management Group LLP now owns 122,225 shares of the credit services provider’s stock valued at $6,818,000 after purchasing an additional 75,068 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Atlanticus in the fourth quarter worth about $3,828,000. Renaissance Technologies LLC lifted its stake in Atlanticus by 19.9% in the fourth quarter. Renaissance Technologies LLC now owns 125,558 shares of the credit services provider’s stock worth $7,004,000 after acquiring an additional 20,800 shares during the period. American Century Companies Inc. grew its holdings in Atlanticus by 60.7% during the 4th quarter. American Century Companies Inc. now owns 52,334 shares of the credit services provider’s stock worth $2,919,000 after acquiring an additional 19,776 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in Atlanticus during the 4th quarter valued at about $987,000. Hedge funds and other institutional investors own 14.15% 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.