Atlanticus (NASDAQ:ATLC) Stock Price Target Cut by BTIG Research

Atlanticus (NASDAQ:ATLC) had its price target lowered by analysts at BTIG Research from $179.00 to $150.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the credit services provider’s stock. BTIG Research‘s price objective indicates a potential upside of 64.42% from the stock’s current price.

Several other research firms also recently weighed in on ATLC. Weiss Ratings restated a “hold (c)” rating on shares of Atlanticus in a research report on Tuesday, September 8th. Citigroup reaffirmed an “outperform” rating on shares of Atlanticus in a research note on Thursday, July 16th. Capital One Financial set a $144.00 price target on Atlanticus in a research report on Monday, July 13th. Texas Capital raised Atlanticus from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Finally, B. Riley Financial reissued a “buy” rating on shares of Atlanticus in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Atlanticus has a consensus rating of “Moderate Buy” and an average price target of $124.86.

Atlanticus Stock Down 5.4%

ATLC opened at $91.23 on Friday. The company has a market cap of $1.38 billion, a PE ratio of 8.04 and a beta of 1.80. Atlanticus has a twelve month low of $47.50 and a twelve month high of $114.34. The company has a 50-day moving average price of $92.28 and a 200 day moving average price of $81.10. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.99.

Atlanticus (NASDAQ:ATLC) last posted its quarterly earnings data on Thursday, November 5th. The credit services provider reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $0.01. Atlanticus had a return on equity of 29.05% and a net margin of 7.65%. The company had revenue of $775.85 million for the quarter, compared to analysts’ expectations of $775.08 million. Sell-side analysts expect that Atlanticus will post 9.73 earnings per share for the current fiscal year.

Institutional Trading of Atlanticus

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Atlanticus in the second quarter valued at approximately $43,535,000. Philadelphia Financial Management of San Francisco LLC purchased a new stake in Atlanticus in the second quarter valued at $9,161,293. Empowered Funds LLC acquired a new position in shares of Atlanticus in the 2nd quarter valued at $7,286,000. Inspire Investing LLC lifted its stake in shares of Atlanticus by 12.3% in the 3rd quarter. Inspire Investing LLC now owns 27,401 shares of the credit services provider’s stock valued at $2,398,000 after purchasing an additional 3,006 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Atlanticus during the 2nd quarter worth $2,281,000. Hedge funds and other institutional investors own 14.15% of the company’s stock.

Atlanticus Company Profile

Atlanticus Holdings Corporation is a financial technology and services company that provides credit and related financial products to consumers, primarily in the United States. Through its subsidiaries, the company focuses on serving consumers who may have limited access to traditional forms of credit.

Atlanticus operates businesses offering private-label and general-purpose credit products, including credit cards and installment loans. Its offerings are distributed through direct-to-consumer channels and partnerships with merchants, giving consumers access to financing for purchases and other personal needs.

The company also operates an auto finance business that provides vehicle-related lending solutions.