Welcome to our dedicated page for Atlanticus Holdings Corporation news (Ticker: ATLC), a resource for investors and traders seeking the latest updates and insights on Atlanticus Holdings Corporation stock.
Atlanticus Holdings Corporation (NASDAQ: ATLC) is a diversified financial holding company with investments primarily in the financial services sector. Its subsidiaries offer a broad array of financial products and services tailored for the financially underserved consumer credit market. The company's operations are segmented into two primary business units: the Credit as a Service segment and the Auto Finance segment, with the former generating the majority of its revenue.
Atlanticus empowers everyday Americans by enabling bank, retail, and healthcare partners to provide more inclusive financial services. Utilizing proprietary analytics and over 25 years of industry experience, Atlanticus supports lenders in offering a range of consumer loan products, including retail and healthcare private label credit and general-purpose credit cards. These are marketed through multiple channels, such as retail point-of-sale, healthcare point-of-care, direct mail solicitation, internet-based marketing, and third-party partnerships.
Among the latest corporate developments, Atlanticus announced the appointment of Khary Scott as Senior Vice President, Head of Co-Brand Partnership Development. Scott brings over 20 years of experience in financial services, including positions at Capital One, Fundbox, and Imprint.
Recent financial results reflect strong performance and strategic growth. For the third quarter of 2023, managed receivables increased by 12.9% to $2.3 billion, with total accounts served rising to 3.4 million. The company's conservative approach to underwriting has resulted in a reduction in portfolio delinquency rates, contributing to overall financial stability. Atlanticus continues to expand through new retail partnerships and enhanced product offerings.
Looking ahead, Atlanticus is poised for long-term growth, driven by its diversified product platform and strong liquidity position. Despite the challenges posed by economic uncertainties, the company is well-positioned to capture market opportunities by serving consumers who are often overlooked by traditional banks.
For the fourth quarter of 2023, Atlanticus reported a 14.9% increase in operating revenue, totaling $308.6 million, and a 13.7% rise in managed receivables to $2.4 billion. This growth is attributed to the expansion of private label credit and general-purpose credit card products offered by its bank partners. The company's general-purpose credit card portfolio also showed robust growth, reflecting the strength of its omnichannel origination platform.
Atlanticus Holdings (NASDAQ: ATLC), a fintech company facilitating inclusive financial services, has announced its Board of Directors' approval of a quarterly dividend for Series B Cumulative Perpetual Preferred shareholders. The dividend amounts to $0.476563 per share and will be paid around December 16, 2024. Shareholders must be on record by the close of business on December 1, 2024 to receive the dividend payment.
Atlanticus Holdings (NASDAQ: ATLC) reported strong Q3 2024 financial results with total operating revenue increasing 19.0% to $351.0 million compared to Q3 2023. Managed receivables grew 14.6% to $2.7 billion, while serving 3.7 million total accounts. The company achieved a net income of $23.2 million attributable to common shareholders, or $1.27 per diluted share, representing a 22.9% increase. Purchase volume reached $819.0 million, with over 380,000 new accounts added during the quarter. The company maintained a return on average equity of 21.0%, demonstrating consistent profitability despite maintaining conservative credit policies.
Atlanticus Holdings (NASDAQ: ATLC), a financial technology company, has announced a quarterly dividend for its Series B Cumulative Perpetual Preferred shareholders. The Board of Directors approved a dividend of $0.476563 per share, to be paid on or around September 15, 2024. Shareholders of record at the close of business on September 1, 2024 will be eligible for this cash dividend.
Atlanticus enables its bank, retail, and healthcare partners to offer more inclusive financial services to millions of everyday Americans. This dividend announcement demonstrates the company's commitment to providing returns to its preferred shareholders.
Atlanticus Holdings (NASDAQ: ATLC) reported strong Q2 2024 results with 8.6% growth in total operating revenue to $315.6 million. Key highlights include:
- 11.1% increase in managed receivables to $2.4 billion
- 17.0% return on average equity
- $727.9 million in purchase volume
- 3.6 million total accounts served
- Net income attributable to common shareholders of $18.0 million, or $0.99 per diluted share
The company announced a partnership with Synchrony, expanding access to their platform. Despite tightened credit and moderated consumer spending, Atlanticus achieved double-digit receivables growth and record quarterly purchase volume. The company is implementing strategies to mitigate potential changes in allowable late fees and expects continued growth in managed receivables for the remainder of 2024.
Atlanticus Holdings (NASDAQ: ATLC) has successfully closed a $60 million add-on offering of 9.25% Senior Notes due 2029. The offering, which included a $5 million exercise of the underwriters' option, resulted in net proceeds of approximately $56.5 million after deducting underwriting costs. These Additional Notes will trade under the symbol 'ATLCZ' on Nasdaq and are expected to be fungible with the previously issued $57,250,000 Existing Notes.
The company plans to use the proceeds to redeem a portion of Class B preferred units issued by a subsidiary and/or for general corporate purposes. The offering was made through an effective shelf registration statement and was managed by B. Riley Securities, Janney Montgomery Scott, Lucid Capital Markets, and William Blair & Company as book-running managers.
Atlanticus Holdings (NASDAQ: ATLC) has announced the pricing of its underwritten registered public add-on offering of $55,000,000 aggregate principal amount of 9.25% Senior Notes due 2029. The Additional Notes are priced at $24.70 per note and will be issued as a further issuance of the Company's existing 9.25% Senior Notes due 2029. The underwriters have been granted an option to purchase up to an additional $8,250,000 aggregate principal amount.
The offering is expected to close on July 26, 2024. Atlanticus plans to use the net proceeds to redeem a portion of Class B preferred units issued by a subsidiary and/or for general corporate purposes. The Additional Notes are expected to trade on Nasdaq under the symbol 'ATLCZ' and have received an 'A' rating from Egan-Jones Ratings Company.
Atlanticus Holdings (NASDAQ: ATLC) has announced an underwritten registered public add-on offering of its 9.25% Senior Notes due 2029. This offering will be an addition to the existing $57,250,000 aggregate principal amount of notes previously issued. The company plans to use the net proceeds to redeem a portion of Class B preferred units issued by a subsidiary and/or for general corporate purposes.
The Additional Notes are expected to be fungible with the Existing Notes for U.S. federal income tax purposes and will trade on Nasdaq under the symbol 'ATLCZ'. Atlanticus and this issuance received an 'A' rating from Egan-Jones Ratings Company. The offering is being made through a shelf registration statement and will be managed by B. Riley Securities, Janney Montgomery Scott, Lucid Capital Markets, and William Blair & Company as book-running managers.
Synchrony (NYSE: SYF) has announced an enhanced partnership with Atlanticus Holdings (NASDAQ: ATLC) focusing on second look financing solutions. This partnership will provide preferred second look financing for private label credit cards and installment loans under the Fortiva brand. The collaboration aims to increase sales and brand loyalty for Synchrony merchants by offering more customers access to credit. This program will streamline enrollment processes and offer favorable merchant pricing. The initiative is expected to attract a broader customer base, including underserved populations. The partnership, which began in 2019, leverages Atlanticus' analytics and technology to offer inclusive financial solutions and potentially allow customers to graduate to Synchrony credit products.
Atlanticus Holdings (NASDAQ: ATLC) announced that its Board of Directors has approved a quarterly cash dividend of $0.476563 per share for Series B Cumulative Perpetual Preferred shareholders.
The dividend will be distributed on or around June 15, 2024, to shareholders on record as of June 1, 2024. Atlanticus is a financial technology company focusing on inclusive financial services for banks, retail, and healthcare partners in the U.S.
Atlanticus Holdings (NASDAQ: ATLC) reported an 11.2% growth in total operating revenue for the first quarter of 2024, with managed receivables increasing by 12.8% to $2.3 billion. The company served over 3.5 million accounts, generating a return on average shareholders' equity of 19.6%. Net income attributable to common shareholders was $19.9 million, or $1.09 per diluted common share. Despite challenges such as higher delinquency rates and a changing regulatory environment, Atlanticus remains focused on achieving target returns and expanding its platform.
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