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 Corporation (NASDAQ: ATLC) announced a quarterly dividend of $0.470035 per share for Series B Cumulative Perpetual Preferred shareholders. The dividend will be paid on or around March 15, 2022, to those on record as of the close of business on March 4, 2022. The company specializes in providing inclusive financial services through its technology, supporting bank, retail, and healthcare partners with consumer loans totaling $26 billion over its 25-year history. This announcement underscores Atlanticus's commitment to delivering shareholder value.
Atlanticus Holdings Corporation (NASDAQ: ATLC) has appointed Brian Stone as Chief Data Science and Risk Officer and Kas Naderi as Chief Information Officer. Stone will leverage over 20 years of experience in data science to enhance analytics across the organization, focusing on consumer marketing and customer service. Naderi, who has been with Atlanticus for seven years, will lead information technology systems and strengthen the company’s cloud infrastructure. The company aims to improve its financial services for everyday Americans through advanced technology and data analytics.
Atlanticus Holdings Corporation (NASDAQ: ATLC) has successfully closed the full over-allotment option for its public offering of 6.125% Senior Notes due 2026. This resulted in an additional issuance of 600,000 Notes, generating approximately $14.5 million in net proceeds after underwriting discounts and commissions. The Notes are traded on the Nasdaq Global Select Market under the symbol 'ATLCL'. The offering was conducted under an effective shelf registration statement filed with the SEC.
Atlanticus Holdings Corporation (NASDAQ: ATLC) has successfully closed an underwritten public offering of $135 million in 6.125% Senior Notes due 2026, generating net proceeds of approximately $130.3 million. Proceeds will be allocated for general corporate purposes. An option for underwriters to purchase an additional $15 million in Notes is available. The Notes are set to trade on Nasdaq under the symbol 'ATLCL' starting November 23, 2021. This offering was conducted under an effective shelf registration statement filed with the SEC.
Atlanticus Holdings Corporation (NASDAQ: ATLC) announced a public offering of $135 million in 6.125% Senior Notes due 2026. The offering includes a 30-day option for underwriters to purchase an additional $15 million. The expected closure date is around November 22, 2021. Proceeds will be utilized for general corporate purposes. The Notes have received an 'A' rating from Egan-Jones Ratings Company. A listing application for these Notes on Nasdaq has been submitted under the symbol 'ATLCL', with trading anticipated to commence shortly after issuance.
Atlanticus Holdings Corporation (NASDAQ: ATLC) has announced a quarterly dividend of $0.4765625 per share for Series B Cumulative Perpetual Preferred stockholders. This cash dividend is set to be paid on December 15, 2021, to shareholders on record as of December 1, 2021. Atlanticus provides inclusive financial services, leveraging its experience of over 18 million customers and $26 billion in consumer loans, through partnerships with banks, retailers, and healthcare providers. This initiative reflects Atlanticus's commitment to empowering financial outcomes for everyday Americans.
Atlanticus Holdings Corporation (NASDAQ: ATLC) has announced the commencement of an underwritten public offering of Senior Notes due 2026. The offering aims to raise funds for general corporate purposes, with a potential 30-day option for underwriters to purchase additional notes. The notes are expected to be listed on the Nasdaq under the symbol 'ATLCL,' with trading anticipated to begin within 30 business days post-issuance. The offering has received an 'A' rating from Egan-Jones Ratings Company, signaling strong creditworthiness.
Atlanticus Holdings Corporation (ATLC) reported a 41.8% increase in total operating revenue, reaching $203.9 million for Q3 2021. Net income attributable to common shareholders rose 18.4% to $40.3 million, or $1.96 per share. The company served 2.6 million customers, a 59.8% growth year-over-year. Managed receivables increased 46.5% to $1.4 billion. Adjusted net income showed a significant 57.1% rise to $53.5 million. The firm anticipates continued growth in point-of-sale financing.
Atlanticus Holdings Corporation (NASDAQ: ATLC) has been recognized as one of Fortune's 100 Fastest-Growing Companies in 2021. The company specializes in providing technology that enables partners in banking, retail, and healthcare to offer inclusive financial services, including various credit products. Atlanticus emphasizes its commitment to improving financial outcomes for everyday Americans, especially in the wake of challenges posed by the global pandemic. This ranking highlights Atlanticus’s revenue and earnings growth, along with strong total returns over three years.
FAQ
What is the current stock price of Atlanticus Holdings Corporation (ATLC)?
What is the market cap of Atlanticus Holdings Corporation (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?
