Atlanticus Holdings Corp Stock Price, News & Analysis

Atlanticus Holdings Corporation (NASDAQ: ATLC) announced a public offering of 2,800,000 shares of 7.625% Series B Cumulative Perpetual Preferred Stock at $25.00 per share, aiming to raise $70 million before expenses. The offering will close around June 11, 2021, with underwriters granted a 30-day option for an additional 420,000 shares. Proceeds will support general corporate purposes, including stock repurchases. The preferred stock is expected to trade under the symbol 'ATLCP' on NASDAQ shortly after the closing.

Atlanticus Holdings Corporation (NASDAQ: ATLC) has announced a public offering of its Series B Cumulative Perpetual Preferred Stock at a liquidation preference of $25.00 per share. The company plans to use the net proceeds for general corporate purposes, including repurchasing common stock. The offering is managed by B. Riley Securities, Janney Montgomery Scott, Ladenburg Thalmann, and William Blair. The offering is part of a shelf registration statement effective since May 13, 2021.

Atlanticus Holdings Corporation (NASDAQ: ATLC) reported a remarkable first quarter of 2021, with net income attributable to common shareholders soaring to $39.4 million, or $2.62 per basic share, marking a 1,377% increase from $2.7 million the previous year. Total operating revenue rose 2.4% to $143.9 million. Managed receivables grew 19.0% to $1.1 billion, serving 1.9 million customers, a 31.7% increase. The combined net charge-off ratio improved significantly, reflecting better financial outcomes for consumers.

Atlanticus Holdings Corporation (NASDAQ: ATLC) reported a remarkable year-end 2020, with net income attributable to common shareholders surging 204.7% to $77.1 million, translating to $5.32 per share. Total operating revenue climbed 63.0% to $560.0 million, driven by a 19.2% rise in managed receivables, reaching $1.1 billion. The customer base expanded by 32.1% to 1.8 million. Despite increases in operating expenses, the company anticipates continued growth, boosted by new retail partnerships and federal stimulus effects.

Atlanticus Holdings Corporation announced key management changes effective March 18, 2021. Founder David Hanna transitions to Executive Chairman, while Jeff Howard, previously President, is promoted to Chief Executive Officer. Howard brings nearly 20 years of experience at Atlanticus. Under their leadership, the company has funded over $1 billion since the pandemic began, expanded its customer base to 1.6 million, and achieved a 12-month operating profit exceeding $84 million. These changes aim to enhance strategic initiatives and support underserved consumers.

Atlanticus Holdings Corporation (NASDAQ: ATLC) announced the appointment of Denise Hales Harrod and Joann Jones as independent Directors, expanding its Board to seven members. These additions aim to enhance the Board's skills and experiences, supporting Atlanticus in delivering financial solutions to over 90 million underserved consumers. Hales Harrod brings over 30 years of expertise in regulatory affairs, while Jones, a partner at BakerHostetler, has significant experience in real estate development. This strategic move is expected to facilitate growth and value creation for shareholders.

Atlanticus Holdings Corporation (NASDAQ: ATLC) has appointed Matt Zalubowski as Senior VP of Marketing and Kurt Brown as Senior VP of Business Development. Zalubowski will focus on product marketing, leveraging his experience in retail credit development to enhance consumer solutions. Brown will lead business development across various sectors, drawing from 16 years at Alliance Data. Both appointments aim to strengthen Atlanticus's technology-enabled financial services, targeting over 90 million underserved consumers and expanding its partnerships and market offerings.

Fortiva Retail Credit, a technology-enabled consumer finance company, has partnered with the Home Furnishings Association (HFA) to enhance financing options for furniture retailers. This collaboration aims to provide shoppers with more financing solutions, particularly for those with credit scores below 700, facilitating incremental sales for HFA members. Retailers utilizing Fortiva's services have seen up to 25% of customers return for additional purchases. Fortiva's proven analytics and underwriting models enable instant credit decisions, helping merchants serve customers more effectively.