Atlanticus (NASDAQ:ATLC) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Atlanticus (NASDAQ:ATLC) from a buy rating to a strong-buy rating in a research report released on Wednesday morning.

Several other research firms also recently issued reports on ATLC. JMP Securities reaffirmed a market outperform rating and set a $39.00 price objective on shares of Atlanticus in a report on Tuesday, May 28th. Keefe, Bruyette & Woods began coverage on shares of Atlanticus in a research report on Wednesday, May 22nd. They set a market perform rating and a $33.00 price target on the stock. Finally, BTIG Research began coverage on shares of Atlanticus in a research report on Friday, June 7th. They set a buy rating and a $45.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $39.25.

Atlanticus Stock Down 0.2 %

NASDAQ:ATLC opened at $30.30 on Wednesday. The company’s fifty day moving average price is $26.97 and its 200-day moving average price is $30.41. Atlanticus has a 1-year low of $23.09 and a 1-year high of $43.59. The firm has a market capitalization of $448.14 million, a P/E ratio of 7.15 and a beta of 1.88. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.42 and a quick ratio of 1.42.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings results on Friday, May 10th. The credit services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.11. The firm had revenue of $290.17 million for the quarter, compared to the consensus estimate of $309.78 million. Atlanticus had a net margin of 8.67% and a return on equity of 26.67%. As a group, equities research analysts anticipate that Atlanticus will post 4.52 EPS for the current year.

Insiders Place Their Bets

In other news, Director Deal W. Hudson sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $26.05, for a total value of $31,260.00. Following the sale, the director now directly owns 68,655 shares of the company’s stock, valued at approximately $1,788,462.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Deal W. Hudson sold 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $26.05, for a total transaction of $31,260.00. Following the sale, the director now directly owns 68,655 shares of the company’s stock, valued at approximately $1,788,462.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Frank J. Hanna III purchased 263,432 shares of the stock in a transaction on Tuesday, April 9th. The shares were purchased at an average price of $28.21 per share, with a total value of $7,431,416.72. Following the acquisition, the insider now directly owns 263,432 shares in the company, valued at $7,431,416.72. The disclosure for this purchase can be found here. 51.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Atlanticus by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 602,272 shares of the credit services provider’s stock valued at $23,290,000 after buying an additional 7,234 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Atlanticus in the 3rd quarter valued at $282,000. Denali Advisors LLC boosted its holdings in shares of Atlanticus by 5.2% in the 1st quarter. Denali Advisors LLC now owns 26,040 shares of the credit services provider’s stock valued at $771,000 after buying an additional 1,285 shares in the last quarter. Vanguard Group Inc. raised its position in Atlanticus by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider’s stock valued at $7,655,000 after purchasing an additional 2,453 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Atlanticus by 65.5% in the 1st quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock valued at $69,000 after purchasing an additional 920 shares during the last quarter. Institutional investors and hedge funds own 14.15% of the company’s stock.

Atlanticus Company Profile

Atlanticus Holdings Corporation, a financial technology company, provides credit and related financial services and products to customers the United States. It operates in two segments, Credit as a Service, and Auto Finance. The Credit as a Service segment originates a range of consumer loan products, such as private label and general purpose credit cards originated by lenders through various channels, including retail and healthcare, direct mail solicitation, digital marketing, and partnerships with third parties; and offers credit to their customers for the purchase of various goods and services, including consumer electronics, furniture, elective medical procedures, healthcare, and home-improvements by partnering with retailers, healthcare providers, and other service providers.