Atlanticus (NASDAQ:ATLC) Sees Unusually-High Trading Volume Following Analyst Upgrade

Shares of Atlanticus Holdings Co. (NASDAQ:ATLC) saw unusually-high trading volume on Tuesday after JMP Securities raised their price target on the stock from $54.00 to $75.00. JMP Securities currently has a market outperform rating on the stock. Approximately 15,479 shares changed hands during mid-day trading, a decline of 17% from the previous session’s volume of 18,587 shares.The stock last traded at $61.00 and had previously closed at $59.15.

A number of other equities analysts have also commented on the company. StockNews.com raised Atlanticus from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Stephens started coverage on shares of Atlanticus in a report on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 target price for the company. BTIG Research upped their price target on shares of Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, B. Riley increased their price objective on shares of Atlanticus from $50.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $57.20.

Insiders Place Their Bets

In other Atlanticus news, Director Denise M. Harrod sold 1,141 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $49.00, for a total value of $55,909.00. Following the transaction, the director now owns 5,659 shares of the company’s stock, valued at $277,291. This represents a 16.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Deal W. Hudson sold 2,500 shares of Atlanticus stock in a transaction 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 sale, the director now owns 64,955 shares of the company’s stock, valued at approximately $2,036,339.25. This trade represents a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,204 shares of company stock valued at $1,080,197 over the last three months. 51.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake 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 valued at $7,655,000 after acquiring an additional 2,453 shares in the last quarter. Rhumbline Advisers raised its position in Atlanticus by 9.3% during the 2nd 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. Squarepoint Ops LLC lifted its holdings 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 worth $234,000 after buying an additional 704 shares during the period. Empowered Funds LLC grew its position in shares of 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 buying an additional 804 shares in the last quarter. Finally, Barclays PLC grew its position in shares of Atlanticus by 285.6% during the 3rd quarter. Barclays PLC now owns 8,218 shares of the credit services provider’s stock worth $289,000 after buying an additional 6,087 shares in the last quarter. Hedge funds and other institutional investors own 14.15% of the company’s stock.

Atlanticus Stock Performance

The firm has a 50 day moving average price of $41.71 and a 200 day moving average price of $34.59. The stock has a market cap of $917.86 million, a PE ratio of 13.99 and a beta of 2.05. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings results on Thursday, November 7th. The credit services provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.04. The firm had revenue of $351.22 million during the quarter, compared to analysts’ expectations of $326.64 million. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. As a group, research analysts forecast that Atlanticus Holdings Co. will post 4.47 earnings per share for the current year.

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.