StockNews.com Upgrades Atlanticus (NASDAQ:ATLC) to “Strong-Buy”

Atlanticus (NASDAQ:ATLC) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Wednesday.

ATLC has been the subject of several other reports. JMP Securities reiterated a “market outperform” rating and set a $39.00 target price on shares of Atlanticus in a research note on Tuesday, May 28th. BTIG Research started coverage on Atlanticus in a research note on Friday, June 7th. They set a “buy” rating and a $45.00 target price on the stock. Finally, Keefe, Bruyette & Woods initiated coverage on shares of Atlanticus in a research report on Wednesday, May 22nd. They issued a “market perform” rating and a $33.00 target price for the company. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.25.

Atlanticus Stock Performance

Shares of ATLC stock opened at $30.10 on Wednesday. The company has a market capitalization of $445.18 million, a P/E ratio of 7.10 and a beta of 1.88. Atlanticus has a 52 week low of $23.09 and a 52 week high of $43.59. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.42 and a current ratio of 1.42. The company’s 50 day moving average price is $26.71 and its two-hundred day moving average price is $30.45.

Atlanticus (NASDAQ:ATLC) last announced its earnings results on Friday, May 10th. The credit services provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.11. The business had revenue of $290.17 million for the quarter, compared to analyst estimates of $309.78 million. Atlanticus had a return on equity of 26.67% and a net margin of 8.67%. On average, analysts expect that Atlanticus will post 4.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Deal W. Hudson sold 1,200 shares of Atlanticus stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $26.05, for a total value of $31,260.00. Following the transaction, the director now owns 68,655 shares in the company, valued at approximately $1,788,462.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, major shareholder Frank J. Hanna III bought 263,432 shares of the firm’s stock in a transaction on Tuesday, April 9th. The shares were purchased at an average price of $28.21 per share, with a total value of $7,431,416.72. Following the completion of the purchase, the insider now owns 263,432 shares in the company, valued at approximately $7,431,416.72. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Deal W. Hudson sold 1,200 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $26.05, for a total transaction of $31,260.00. Following the transaction, the director now owns 68,655 shares of the company’s stock, valued at $1,788,462.75. The disclosure for this sale can be found here. Corporate insiders own 51.80% of the company’s stock.

Hedge Funds Weigh In On Atlanticus

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its holdings in shares of Atlanticus by 65.5% during the first quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock worth $69,000 after purchasing an additional 920 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in Atlanticus during the 3rd quarter worth approximately $282,000. Empowered Funds LLC increased its position in Atlanticus by 7.5% in the 1st quarter. Empowered Funds LLC now owns 15,094 shares of the credit services provider’s stock valued at $447,000 after acquiring an additional 1,050 shares during the period. Denali Advisors LLC raised its stake in shares of Atlanticus by 5.2% during the first quarter. Denali Advisors LLC now owns 26,040 shares of the credit services provider’s stock valued at $771,000 after acquiring an additional 1,285 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Atlanticus by 1.0% during the first quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider’s stock worth $7,655,000 after purchasing an additional 2,453 shares during the period. Institutional investors and hedge funds own 14.15% of the company’s stock.

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.