Atlanticus (NASDAQ:ATLC) Hits New 52-Week High – Here’s Why

Atlanticus Holdings Corporation (NASDAQ:ATLC)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $99.55 and last traded at $95.77, with a volume of 142017 shares trading hands. The stock had previously closed at $96.24.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wall Street Zen raised Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Weiss Ratings raised Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Zacks Research upgraded shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. Texas Capital upgraded shares of Atlanticus to a “hold” rating in a research report on Wednesday, June 10th. Finally, William Blair set a $100.00 target price on shares of Atlanticus in a research report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.25.

Atlanticus Stock Performance

The stock’s fifty day moving average price is $79.27 and its two-hundred day moving average price is $65.68. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $1.45 billion, a P/E ratio of 14.29 and a beta of 2.14.

Atlanticus (NASDAQ:ATLC) last issued its quarterly earnings results on Thursday, May 7th. The credit services provider reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.54. Atlanticus had a net margin of 5.86% and a return on equity of 23.43%. The company had revenue of $679.59 million during the quarter, compared to the consensus estimate of $749.36 million. As a group, equities analysts predict that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current year.

Institutional Trading of Atlanticus

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Range Financial Group LLC lifted its holdings in shares of Atlanticus by 5.8% during the 1st quarter. Range Financial Group LLC now owns 4,526 shares of the credit services provider’s stock worth $237,000 after acquiring an additional 247 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Atlanticus by 5.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,194 shares of the credit services provider’s stock worth $616,000 after acquiring an additional 478 shares during the period. Jump Financial LLC lifted its holdings in shares of Atlanticus by 6.1% during the 2nd quarter. Jump Financial LLC now owns 9,344 shares of the credit services provider’s stock worth $512,000 after acquiring an additional 537 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Atlanticus by 9.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 7,783 shares of the credit services provider’s stock worth $521,000 after acquiring an additional 681 shares during the period. Finally, Advisory Services Network LLC bought a new position in Atlanticus in the 3rd quarter valued at approximately $47,000. Institutional investors own 14.15% of the company’s stock.

Atlanticus Company Profile

Atlanticus Holdings Corporation is a specialty financial services holding company that provides credit products and solutions to consumers across the United States. Through its subsidiaries, the company offers proprietary credit card programs, installment loan products and deposit accounts designed to serve customers who may have limited access to traditional credit. Atlanticus markets its offerings through a variety of channels, including direct‐to‐consumer online platforms, mail order, call centers and partnerships with retail and e-commerce businesses.

The company underwrites and services credit card portfolios under private-label and co-branded agreements, combining technology‐enabled underwriting with tailored customer service.