Atlanticus (NASDAQ:ATLC) Shares Up 6.6% – Time to Buy?

Atlanticus Holdings Corporation (NASDAQ:ATLC)’s share price rose 6.6% on Friday . The stock traded as high as $101.69 and last traded at $101.8950. Approximately 71,073 shares changed hands during mid-day trading, a decline of 30% from the average daily volume of 101,353 shares. The stock had previously closed at $95.62.

Analysts Set New Price Targets

A number of brokerages recently commented on ATLC. William Blair set a $100.00 price objective on shares of Atlanticus in a report on Wednesday, June 10th. Citigroup reiterated an “outperform” rating on shares of Atlanticus in a report on Thursday, July 16th. B. Riley Financial reissued a “buy” rating on shares of Atlanticus in a research note on Thursday, May 14th. HSBC set a $144.00 price target on Atlanticus in a report on Monday, July 13th. Finally, Texas Capital upgraded Atlanticus from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $126.00.

Atlanticus Price Performance

The company’s 50-day simple moving average is $93.44 and its 200-day simple moving average is $72.24. The stock has a market capitalization of $1.50 billion, a P/E ratio of 14.85 and a beta of 2.11. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.24 and a quick ratio of 1.24.

Atlanticus (NASDAQ:ATLC) last issued its earnings results on Thursday, May 7th. The credit services provider reported $2.23 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $749.36 million. As a group, sell-side analysts expect that Atlanticus Holdings Corporation will post 9.48 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO William Mccamey sold 10,000 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $103.01, for a total value of $1,030,100.00. Following the sale, the chief financial officer owned 127,410 shares in the company, valued at approximately $13,124,504.10. This represents a 7.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey A. Howard sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $103.01, for a total value of $1,030,100.00. Following the sale, the chief executive officer directly owned 663,265 shares of the company’s stock, valued at $68,322,927.65. This represents a 1.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 75,000 shares of company stock worth $7,868,627 over the last ninety days. 51.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Atlanticus

Several large investors have recently modified their holdings of ATLC. Financial Management Professionals Inc. bought a new stake in shares of Atlanticus during the 2nd quarter worth about $33,000. Advisory Services Network LLC acquired a new stake in Atlanticus during the third quarter worth approximately $47,000. Jones Financial Companies Lllp bought a new stake in shares of Atlanticus during the first quarter worth approximately $71,000. Inspire Investing LLC acquired a new position in shares of Atlanticus in the first quarter valued at approximately $87,000. Finally, BNP Paribas Financial Markets grew its position in shares of Atlanticus by 334.8% in the second quarter. BNP Paribas Financial Markets now owns 1,735 shares of the credit services provider’s stock valued at $95,000 after purchasing an additional 1,336 shares during the last quarter. 14.15% of the stock is owned by institutional investors.

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.