Welcome to our dedicated page for Atlanticus Holdings news (Ticker: ATLC), a resource for investors and traders seeking the latest updates and insights on Atlanticus Holdings 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) 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.
FAQ
What is the current stock price of Atlanticus Holdings (ATLC)?
What is the market cap of Atlanticus Holdings (ATLC)?
What does Atlanticus Holdings Corporation do?
What are the primary business segments of Atlanticus?
Who are the target customers for Atlanticus' services?
What recent appointments have been made at Atlanticus?
What were the financial highlights for Atlanticus in the third quarter of 2023?
How did Atlanticus perform in the fourth quarter of 2023?
What is Atlanticus' strategy for long-term growth?
How does Atlanticus support its financial partners?
What are Atlanticus' latest financial services products?
Where can I find more information about Atlanticus' financial performance?
