Atlanticus (NASDAQ:ATLC) Price Target Raised to $70.00 at B. Riley

Atlanticus (NASDAQ:ATLC) had its target price lifted by B. Riley from $50.00 to $70.00 in a research report sent to investors on Thursday,Benzinga reports. B. Riley currently has a buy rating on the credit services provider’s stock.

Several other analysts also recently weighed in on the company. Stephens initiated coverage on Atlanticus in a research note on Wednesday, November 13th. They set an “overweight” rating and a $54.00 target price on the stock. JMP Securities lifted their price objective on shares of Atlanticus from $45.00 to $54.00 and gave the company a “market outperform” rating in a research note on Wednesday, November 13th. BTIG Research increased their target price on shares of Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, StockNews.com upgraded shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $53.00.

Atlanticus Stock Up 5.6 %

Atlanticus stock opened at $54.38 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. Atlanticus has a one year low of $23.09 and a one year high of $54.50. The company has a 50-day simple moving average of $38.36 and a 200-day simple moving average of $33.01. The firm has a market capitalization of $801.49 million, a P/E ratio of 12.22 and a beta of 1.92.

Atlanticus (NASDAQ:ATLC) last posted its earnings results on Thursday, November 7th. The credit services provider reported $1.27 EPS for the quarter, topping the consensus estimate of $1.23 by $0.04. The firm had revenue of $351.22 million during the quarter, compared to analysts’ expectations of $326.64 million. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. As a group, equities analysts expect that Atlanticus will post 4.41 earnings per share for the current year.

Insider Activity at Atlanticus

In other news, Director Denise M. Harrod sold 1,141 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $49.00, for a total transaction of $55,909.00. Following the sale, the director now directly owns 5,659 shares of the company’s stock, valued at $277,291. The trade was a 16.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 owns 64,955 shares in the company, valued at approximately $2,036,339.25. The trade was a 3.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,200 shares of company stock valued at $191,175 over the last 90 days. 51.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Atlanticus by 1.0% during the first 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. Rhumbline Advisers raised its stake in shares of Atlanticus by 9.3% during the 2nd quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock worth $229,000 after purchasing an additional 690 shares in the last quarter. Squarepoint Ops LLC lifted its holdings 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 valued at $234,000 after buying an additional 704 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in 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 buying an additional 920 shares during the last quarter. Finally, Barclays PLC raised its position in Atlanticus by 285.6% during the third quarter. Barclays PLC now owns 8,218 shares of the credit services provider’s stock valued at $289,000 after acquiring an additional 6,087 shares in the last quarter. 14.15% of the stock is owned by institutional investors and hedge funds.

About Atlanticus

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.