Atlanticus Holdings stock hits 52-week high at 70.0 USD

Atlanticus Holdings Corporation stock reached a new 52-week high, touching 70.0 USD, marking a significant milestone for the $1.05 billion market cap financial services company. According to InvestingPro data, the company maintains an impressive financial health score of "GREAT," with management actively buying back shares. This milestone comes amid a remarkable year for the company, with its stock appreciating by 119.59% over the past 12 months. The significant rise reflects strong investor confidence and robust performance in the company’s financial services sector, supported by impressive revenue growth of 26.2% and a conservative P/E ratio of 11.86. InvestingPro analysis reveals 13 additional key insights about Atlanticus’s performance and valuation, available to subscribers. As Atlanticus continues to expand its offerings and market presence, this 52-week high underscores its successful strategies and potential for future growth, backed by a strong current ratio of 14.63. Discover comprehensive analysis and detailed valuation metrics in the exclusive Pro Research Report, available on InvestingPro.

In other recent news, Atlanticus Holdings Corporation has completed its acquisition of Mercury Financial, a prominent credit card issuer, for $162 million in cash. This transaction, which is Atlanticus’ first acquisition in nearly two decades, adds 1.3 million credit card accounts and $3.2 billion in credit card receivables to its portfolio. As a result, Atlanticus’ total serviced accounts have increased to over 5 million, with managed receivables surpassing $6 billion. Alongside this acquisition, Atlanticus has also completed a private offering of $400 million in senior notes due 2030, bearing an interest rate of 9.75%. The proceeds from this offering are intended to repay outstanding amounts under recourse warehouse facilities, fund general corporate purposes including potential acquisitions, and cover fees related to the offering. Notably, JMP Securities has reiterated its outperform rating on Atlanticus following the Mercury Financial deal, reflecting positive sentiment from analysts. The senior notes are guaranteed by certain domestic subsidiaries and are governed by an indenture with U.S. Bank Trust Company as trustee. These developments mark significant steps in Atlanticus’ strategic expansion and financial management efforts.

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