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 financial technology company that works with bank, retail, and healthcare partners to provide consumer credit products to everyday Americans, including financially underserved and near-prime consumers. The Atlanticus news feed on Stock Titan highlights developments that affect its credit card issuing, private label credit, auto finance, and capital markets activities.
Investors following ATLC news can track announcements about managed receivables growth, account origination volumes, and portfolio acquisitions. Recent company releases describe significant milestones such as the acquisition of Mercury Financial LLC, which added approximately 1.3 million credit card accounts and $3.2 billion in credit card receivables, as well as the purchase of a Vive Financial credit card receivables portfolio from PROG Holdings. These events illustrate how Atlanticus uses acquisitions and portfolio purchases to expand its scale and reach in consumer credit.
News items also cover earnings results, where Atlanticus reports trends in total operating revenue and other income, net margin, and managed receivables, along with commentary on underwriting standards, marketing efforts, and portfolio performance. Additional coverage includes capital markets transactions such as offerings of senior notes and refinancings of term securitizations, which provide insight into the company’s funding strategy and cost of capital.
Regular press releases address preferred stock dividends on the company’s Series B Cumulative Perpetual Preferred Stock and management’s perspective on growth opportunities across general purpose credit card, private label credit, and auto finance channels. By reviewing ATLC news on this page, readers can see how Atlanticus executes its strategy of enabling more inclusive financial services through proprietary technology, analytics, and long-standing experience in consumer lending.
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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