JMP Securities Forecasts Strong Price Appreciation for Atlanticus (NASDAQ:ATLC) Stock

Atlanticus (NASDAQ:ATLC) had its price target lifted by equities researchers at JMP Securities from $54.00 to $75.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “market outperform” rating on the credit services provider’s stock. JMP Securities’ price target indicates a potential upside of 17.00% from the company’s previous close.

Several other brokerages also recently issued reports on ATLC. BTIG Research boosted their price objective on Atlanticus from $45.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Stephens began coverage on Atlanticus in a research report on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 target price for the company. StockNews.com raised Atlanticus from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Finally, B. Riley increased their target price on Atlanticus from $50.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, November 21st. One investment 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 company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $57.20.

Atlanticus Stock Up 2.9 %

Shares of Atlanticus stock opened at $64.10 on Tuesday. The firm has a market cap of $944.83 million, a P/E ratio of 13.99 and a beta of 2.05. The business has a 50-day moving average price of $42.26 and a 200 day moving average price of $34.86. Atlanticus has a fifty-two week low of $23.09 and a fifty-two week high of $64.44. 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 posted its earnings results on Thursday, November 7th. The credit services provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.23 by $0.04. The company had revenue of $351.22 million during the quarter, compared to analyst estimates of $326.64 million. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. On average, sell-side analysts forecast that Atlanticus will post 4.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Mitchell Saunders sold 16,004 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $55.55, for a total value of $889,022.20. Following the sale, the chief accounting officer now directly owns 50,973 shares of the company’s stock, valued at approximately $2,831,550.15. This trade represents a 23.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Deal W. Hudson sold 2,500 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $31.35, for a total value of $78,375.00. Following the completion of the sale, the director now directly 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 disclosure for this sale can be found here. Insiders have sold 20,004 shares of company stock valued at $1,040,897 over the last three months. 51.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Atlanticus

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in 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 buying an additional 2,453 shares in the last quarter. Geode Capital Management LLC lifted its stake in Atlanticus by 2.0% during the third quarter. Geode Capital Management LLC now owns 122,501 shares of the credit services provider’s stock worth $4,298,000 after purchasing an additional 2,348 shares during the period. State Street Corp lifted its stake in Atlanticus by 2.4% during the third quarter. State Street Corp now owns 93,431 shares of the credit services provider’s stock worth $3,278,000 after purchasing an additional 2,212 shares during the period. Wellington Management Group LLP bought a new position in Atlanticus during the third quarter worth about $1,654,000. Finally, Empowered Funds LLC lifted its stake in Atlanticus by 5.0% during the third 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 during the period. 14.15% of the stock is owned by institutional investors and hedge funds.

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.