Atlanticus Holdings Corp (NASDAQ:ATLC), a company specializing in personal credit services, has reported a recent transaction involving one of its directors. Deal W. Hudson (NYSE:HUD), a member of the company's board, sold 1,200 shares of common stock on May 29, 2024, according to a new SEC filing.
The shares were sold at a price of $26.05 each, amounting to a total of $31,260. Following the sale, Hudson retains ownership of 68,655 shares in the company. The transaction was executed directly, indicating that Hudson personally owns the shares sold.
This sale comes amidst the market's ongoing interest in the trading activities of corporate insiders, as these can provide insights into a company's internal perspective. Atlanticus Holdings has not issued any official statement regarding the rationale behind Hudson's sale at the time of this report.
Investors and market watchers often keep a close eye on insider transactions like these, as they can sometimes precede future stock performance or corporate announcements. However, insider sales can occur for various reasons and do not necessarily signal a change in company prospects.
For those interested in following Atlanticus Holdings' stock performance and insider transactions, the company trades under the ticker symbol NASDAQ:ATLC.
InvestingPro Insights
Amidst the insider transaction news at Atlanticus Holdings Corp (NASDAQ:ATLC), investors might be keen to understand the broader financial landscape of the company. According to InvestingPro data, Atlanticus Holdings is currently trading at an attractive earnings multiple, with a P/E ratio of just 4.87. This could suggest that the company's stock is undervalued relative to its earnings capacity, especially when considering the adjusted P/E ratio for the last twelve months as of Q1 2024 is also low at 4.9.
The company's stock price has experienced significant volatility, as evidenced by a 22.47% drop over the past three months. This price movement aligns with an InvestingPro Tip that highlights the stock's volatility. Additionally, while the company's revenue slightly declined by 1.01% in the last twelve months as of Q1 2024, it's noteworthy that Atlanticus Holdings has maintained a robust gross profit margin of 71.43% during the same period, reflecting efficient control over its cost of goods sold.
Another InvestingPro Tip worth mentioning is that Atlanticus Holdings' liquid assets exceed its short-term obligations, which may provide some assurance regarding the company's liquidity and ability to meet its immediate financial commitments. For investors seeking more in-depth analysis and additional InvestingPro Tips, there are 9 more tips available on the company's profile at Investing.com. To access these valuable insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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