Stephens Initiates Coverage on Atlanticus (NASDAQ:ATLC)

Research analysts at Stephens started coverage on shares of Atlanticus (NASDAQ:ATLC) in a note issued to investors on Wednesday, Marketbeat.com reports. The firm set an “overweight” rating and a $54.00 price target on the credit services provider’s stock. Stephens’ price objective would indicate a potential upside of 9.76% from the company’s previous close.

A number of other analysts have also weighed in on ATLC. JMP Securities raised their price objective on shares of Atlanticus from $39.00 to $45.00 and gave the company a “market outperform” rating in a research note on Monday, October 14th. StockNews.com upgraded shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Finally, BTIG Research increased their target price on Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $48.75.

Atlanticus Price Performance

Shares of NASDAQ ATLC opened at $49.20 on Wednesday. The company has a 50 day simple moving average of $36.35 and a two-hundred day simple moving average of $32.18. Atlanticus has a fifty-two week low of $23.09 and a fifty-two week high of $49.53. The company has a market capitalization of $725.16 million, a price-to-earnings ratio of 11.06 and a beta of 1.92. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.43 and a current ratio of 1.44.

Atlanticus (NASDAQ:ATLC) last posted its quarterly earnings data on Thursday, November 7th. The credit services provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.04. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. The company had revenue of $351.22 million during the quarter, compared to analyst estimates of $326.64 million. Analysts expect that Atlanticus will post 4.54 EPS for the current fiscal year.

Insider Activity at Atlanticus

In related news, Director Deal W. Hudson sold 2,500 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $31.35, for a total transaction of $78,375.00. Following the completion of the sale, the director now owns 64,955 shares in the company, valued at approximately $2,036,339.25. This represents a 3.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 51.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Atlanticus

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Atlanticus by 1.0% in the first quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider’s stock worth $7,655,000 after acquiring an additional 2,453 shares during the period. Empowered Funds LLC increased its stake in shares of Atlanticus by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 16,978 shares of the credit services provider’s stock worth $596,000 after purchasing an additional 804 shares in the last quarter. Squarepoint Ops LLC raised its holdings in Atlanticus by 9.3% in the 2nd quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock worth $234,000 after purchasing an additional 704 shares during the period. Rhumbline Advisers lifted its position 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 purchasing an additional 690 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in Atlanticus by 158.8% during the third quarter. MetLife Investment Management LLC now owns 2,971 shares of the credit services provider’s stock valued at $104,000 after purchasing an additional 1,823 shares during the period. 14.15% of the stock is currently owned by institutional investors.

About Atlanticus

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.