Atlanticus (NASDAQ:ATLC) Hits New 52-Week High Following Analyst Upgrade

Shares of Atlanticus Holdings Co. (NASDAQ:ATLC) hit a new 52-week high on Wednesday after JMP Securities raised their price target on the stock from $45.00 to $54.00. JMP Securities currently has a market outperform rating on the stock. Atlanticus traded as high as $45.89 and last traded at $45.89, with a volume of 23369 shares trading hands. The stock had previously closed at $44.50.

Several other equities analysts have also recently weighed in on ATLC. BTIG Research raised their target price on shares of Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday. Stephens started coverage on shares of Atlanticus in a research report on Wednesday. They set an “overweight” rating and a $54.00 price objective for the company. Finally, StockNews.com upgraded shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $48.75.

Insider Activity at Atlanticus

In related news, Director Deal W. Hudson sold 1,200 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $32.75, for a total value of $39,300.00. Following the completion of the sale, the director now owns 67,455 shares of the company’s stock, valued at approximately $2,209,151.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Deal W. Hudson sold 1,200 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $32.75, for a total transaction of $39,300.00. Following the completion of the sale, the director now owns 67,455 shares of the company’s stock, valued at approximately $2,209,151.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Deal W. Hudson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $31.35, for a total value of $78,375.00. Following the completion of the transaction, the director now owns 64,955 shares of the company’s stock, valued at approximately $2,036,339.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 51.80% of the company’s stock.

Hedge Funds Weigh In On Atlanticus

Large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its stake in Atlanticus by 9.3% during the second quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock valued at $229,000 after buying an additional 690 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of Atlanticus by 9.3% in the 2nd quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock valued at $234,000 after purchasing an additional 704 shares during the period. Empowered Funds LLC boosted its position in Atlanticus by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 16,978 shares of the credit services provider’s stock worth $596,000 after acquiring an additional 804 shares during the period. BNP Paribas Financial Markets boosted its position in Atlanticus by 65.5% during the 1st quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock worth $69,000 after acquiring an additional 920 shares during the period. Finally, FMR LLC raised its stake in shares of Atlanticus by 393.1% during the 3rd quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock worth $80,000 after purchasing an additional 1,820 shares in the last quarter. 14.15% of the stock is currently owned by institutional investors.

Atlanticus Price Performance

The company has a fifty day moving average price of $35.75 and a two-hundred day moving average price of $31.96. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.59. The company has a market cap of $676.27 million, a price-to-earnings ratio of 10.12 and a beta of 1.92.

Atlanticus (NASDAQ:ATLC) last announced its earnings results on Thursday, November 7th. The credit services provider reported $1.27 EPS for the quarter, topping the consensus estimate of $1.23 by $0.04. The firm had revenue of $351.22 million for the quarter, compared to the consensus estimate of $326.64 million. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. As a group, equities research analysts anticipate that Atlanticus Holdings Co. will post 4.54 EPS for the current fiscal year.

Atlanticus Company Profile

Atlanticus Holdings Corporation, a financial technology company, provides credit and related financial services and products to customers the United States. It operates in two segments, Credit as a Service, and Auto Finance. The Credit as a Service segment originates a range of consumer loan products, such as private label and general purpose credit cards originated by lenders through various channels, including retail and healthcare, direct mail solicitation, digital marketing, and partnerships with third parties; and offers credit to their customers for the purchase of various goods and services, including consumer electronics, furniture, elective medical procedures, healthcare, and home-improvements by partnering with retailers, healthcare providers, and other service providers.