Wellington Management Group LLP Invests $1.65 Million in Atlanticus Holdings Co. (NASDAQ:ATLC)

Wellington Management Group LLP bought a new stake in Atlanticus Holdings Co. (NASDAQ:ATLC - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 47,157 shares of the credit services provider's stock, valued at approximately $1,654,000. Wellington Management Group LLP owned about 0.32% of Atlanticus at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. FMR LLC lifted its stake in Atlanticus by 393.1% in the third 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 raised its position in shares of Atlanticus by 158.8% in the 3rd quarter. MetLife Investment Management LLC now owns 2,971 shares of the credit services provider's stock valued at $104,000 after acquiring an additional 1,823 shares during the period. Rhumbline Advisers boosted its stake in Atlanticus by 9.3% during the 2nd quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider's stock worth $229,000 after acquiring an additional 690 shares during the last quarter. Squarepoint Ops LLC grew its holdings in Atlanticus by 9.3% during the second 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. Finally, Empowered Funds LLC increased its stake in Atlanticus by 5.0% in the third quarter. Empowered Funds LLC now owns 16,978 shares of the credit services provider's stock valued at $596,000 after purchasing an additional 804 shares in the last quarter. Institutional investors and hedge funds own 14.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. JMP Securities boosted their price target on shares of Atlanticus from $54.00 to $75.00 and gave the company a "market outperform" rating in a report on Tuesday, December 3rd. B. Riley boosted their target price on Atlanticus from $50.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. Stephens assumed coverage on Atlanticus in a research report on Wednesday, November 13th. They set an "overweight" rating and a $54.00 price target on the stock. Finally, BTIG Research lifted their price objective on Atlanticus from $45.00 to $54.00 and gave the company a "buy" rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Atlanticus has a consensus rating of "Buy" and an average target price of $57.20.

Insider Buying and Selling

In related news, Director Denise M. Harrod sold 1,141 shares of the business's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $49.00, for a total value of $55,909.00. Following the completion of the sale, the director now directly owns 5,659 shares in the company, valued at $277,291. The trade was a 16.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Mitchell Saunders sold 16,004 shares of the firm's stock in a transaction dated 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 directly owns 50,973 shares in the company, valued at approximately $2,831,550.15. This represents a 23.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,504 shares of company stock worth $962,522. Company insiders own 51.80% of the company's stock.

Atlanticus Stock Up 1.6 %

Shares of NASDAQ ATLC traded up $0.91 during trading hours on Thursday, hitting $57.55. The company had a trading volume of 48,213 shares, compared to its average volume of 21,072. Atlanticus Holdings Co. has a 1-year low of $23.09 and a 1-year high of $64.70. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The firm's 50 day moving average is $48.47 and its 200-day moving average is $37.64. The stock has a market capitalization of $848.23 million, a P/E ratio of 12.93 and a beta of 2.05.

Atlanticus (NASDAQ:ATLC - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The credit services provider reported $1.27 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.04. The firm had revenue of $351.22 million during the quarter, compared to analysts' expectations of $326.64 million. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. On average, analysts expect that Atlanticus Holdings Co. will post 4.47 earnings per share for the current fiscal year.

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.