Atlanticus (NASDAQ:ATLC) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen downgraded shares of Atlanticus (NASDAQ:ATLC) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also recently commented on the company. Zacks Research cut Atlanticus from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. William Blair set a $100.00 price target on Atlanticus in a report on Wednesday, June 10th. BTIG Research reiterated a “buy” rating and set a $179.00 price target on shares of Atlanticus in a research report on Tuesday, September 22nd. Texas Capital raised Atlanticus from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Finally, B. Riley Financial reissued a “buy” rating on shares of Atlanticus in a report on Thursday, September 3rd. One research 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’s stock. Based on data from MarketBeat, Atlanticus currently has an average rating of “Moderate Buy” and an average price target of $129.00.

Atlanticus Stock Performance

Shares of NASDAQ ATLC opened at $91.89 on Friday. The company has a market capitalization of $1.39 billion, a PE ratio of 11.95 and a beta of 1.98. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.26 and a current ratio of 1.26. The company’s fifty day moving average price is $96.12 and its 200 day moving average price is $86.15. Atlanticus has a 1 year low of $47.50 and a 1 year high of $114.34.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings data on Thursday, August 6th. The credit services provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.08. The company had revenue of $744.32 million during the quarter, compared to analysts’ expectations of $716.35 million. Atlanticus had a net margin of 5.80% and a return on equity of 25.17%. On average, research analysts predict that Atlanticus will post 9.73 earnings per share for the current year.

Institutional Trading of Atlanticus

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Financial Management Professionals Inc. purchased a new position in Atlanticus in the 2nd quarter valued at about $33,000. Inspire Investing LLC purchased a new stake in Atlanticus during the 1st quarter worth approximately $87,000. Walleye Capital LLC purchased a new stake in Atlanticus during the 2nd quarter worth approximately $208,000. Range Financial Group LLC raised its holdings in shares of Atlanticus by 5.8% during 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 during the last quarter. Finally, Jupiter Topco LLC acquired a new position in shares of Atlanticus during the second quarter valued at approximately $255,000. Hedge funds and other institutional investors own 14.15% of the company’s stock.

Atlanticus Company Profile

Atlanticus Holdings Corporation (NASDAQ: ATLC) is a financial technology company that develops and provides credit and related financial products for consumers who may have limited access to traditional banking services. The company works with financial institution partners and merchants to deliver credit solutions through digital and point-of-sale channels.

Atlanticus’ offerings include revolving credit products, point-of-sale financing, personal loan solutions and automotive finance programs.