Atlanticus (NASDAQ:ATLC) Trading 5.9% Higher on Analyst Upgrade

Atlanticus Holdings Co. (NASDAQ:ATLC) rose 5.9% on Thursday after JMP Securities raised their price target on the stock from $45.00 to $54.00. JMP Securities currently has a market outperform rating on the stock. Atlanticus traded as high as $48.90 and last traded at $48.90. Approximately 24,371 shares traded hands during mid-day trading, an increase of 44% from the average daily volume of 16,941 shares. The stock had previously closed at $46.18.

Several other brokerages also recently weighed in on ATLC. BTIG Research raised their target price on Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday. StockNews.com upgraded shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Stephens initiated coverage on Atlanticus in a research report on Wednesday. They issued an “overweight” rating and a $54.00 target price for the company. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $48.75.

Insider Buying and Selling

In other Atlanticus news, Director Deal W. Hudson sold 2,500 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $31.35, for a total transaction of $78,375.00. Following the completion of the transaction, the director now owns 64,955 shares of the company’s stock, valued at $2,036,339.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Deal W. Hudson sold 1,200 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $32.75, for a total transaction of $39,300.00. Following the transaction, the director now owns 67,455 shares of the company’s stock, valued at $2,209,151.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Deal W. Hudson sold 2,500 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $31.35, for a total value of $78,375.00. Following the sale, the director now directly owns 64,955 shares of the company’s stock, valued at $2,036,339.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 51.80% of the stock is owned by insiders.

Institutional Trading of Atlanticus

A number of institutional investors and hedge funds have recently modified their holdings of ATLC. BNP Paribas Financial Markets increased its holdings in shares of Atlanticus by 65.5% in the first quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock worth $69,000 after acquiring an additional 920 shares in the last quarter. FMR LLC raised its position in Atlanticus by 393.1% during the third quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock worth $80,000 after acquiring an additional 1,820 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Atlanticus by 158.8% during the third quarter. MetLife Investment Management LLC now owns 2,971 shares of the credit services provider’s stock worth $104,000 after purchasing an additional 1,823 shares during the period. Rhumbline Advisers raised its stake in Atlanticus by 9.3% in the second quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock valued at $229,000 after buying an additional 690 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in shares of Atlanticus by 9.3% during the 2nd quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock worth $234,000 after acquiring an additional 704 shares during the period. 14.15% of the stock is owned by institutional investors.

Atlanticus Trading Up 6.6 %

The firm has a market cap of $725.65 million, a P/E ratio of 10.38 and a beta of 1.92. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average of $36.01 and a two-hundred day moving average of $32.06.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings data on Thursday, November 7th. The credit services provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.23 by $0.04. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. The business had revenue of $351.22 million during the quarter, compared to the consensus estimate of $326.64 million. Analysts predict that Atlanticus Holdings Co. will post 4.54 earnings per share for the current year.

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.