Atlanticus (NASDAQ:ATLC) Sets New 52-Week High – Time to Buy?

Atlanticus Holdings Corporation (NASDAQ:ATLC) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $113.37 and last traded at $112.2450, with a volume of 67071 shares. The stock had previously closed at $108.06.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ATLC shares. BTIG Research increased their price target on shares of Atlanticus from $105.00 to $179.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Wall Street Zen raised shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 5th. William Blair set a $100.00 price target on Atlanticus in a report on Wednesday, June 10th. Capital One Financial set a $144.00 price objective on Atlanticus in a research report on Monday, July 13th. Finally, HSBC set a $144.00 target price on Atlanticus in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $126.00.

Atlanticus Price Performance

The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.08. The stock has a fifty day simple moving average of $97.22 and a two-hundred day simple moving average of $74.72. The company has a market cap of $1.69 billion, a PE ratio of 16.71 and a beta of 2.11.

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, topping analysts’ consensus estimates of $1.69 by $0.54. The business had revenue of $679.59 million during the quarter, compared to the consensus estimate of $749.36 million. Atlanticus had a return on equity of 23.43% and a net margin of 5.86%. On average, equities analysts predict that Atlanticus Holdings Corporation will post 9.48 EPS for the current fiscal year.

Insider Buying and Selling at Atlanticus

In other news, CAO Mitchell Saunders sold 10,000 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $102.20, for a total transaction of $1,022,000.00. Following the completion of the transaction, the chief accounting officer owned 46,273 shares of the company’s stock, valued at $4,729,100.60. This represents a 17.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey A. Howard sold 10,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 663,265 shares in the company, valued at approximately $68,322,927.65. This trade represents a 1.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 75,000 shares of company stock worth $7,868,627. 51.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Range Financial Group LLC grew its position in Atlanticus by 5.8% in the first quarter. Range Financial Group LLC now owns 4,526 shares of the credit services provider’s stock valued at $237,000 after acquiring an additional 247 shares in the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of Atlanticus during the second quarter valued at approximately $33,000. Price T Rowe Associates Inc. MD lifted its position in shares of Atlanticus by 5.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,194 shares of the credit services provider’s stock worth $616,000 after purchasing an additional 478 shares in the last quarter. Jump Financial LLC lifted its position in shares of Atlanticus by 6.1% during the second quarter. Jump Financial LLC now owns 9,344 shares of the credit services provider’s stock worth $512,000 after purchasing an additional 537 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Atlanticus by 9.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 7,783 shares of the credit services provider’s stock valued at $521,000 after purchasing an additional 681 shares during the period. Hedge funds and other institutional investors own 14.15% of the company’s stock.

About Atlanticus

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.