Atlanticus (NASDAQ:ATLC) Trading Up 7.1% After Earnings Beat

Atlanticus Holdings Co. (NASDAQ:ATLC)’s share price traded up 7.1% during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $47.16 and last traded at $46.81. 10,800 shares were traded during trading, a decline of 82% from the average session volume of 61,646 shares. The stock had previously closed at $43.71.

The credit services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.19. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. The firm had revenue of $353.19 million for the quarter, compared to analyst estimates of $355.02 million.

Analyst Ratings Changes

ATLC has been the topic of several analyst reports. B. Riley raised shares of Atlanticus to a “strong-buy” rating in a research note on Tuesday, January 7th. JMP Securities increased their price target on Atlanticus from $54.00 to $75.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $57.20.

Hedge Funds Weigh In On Atlanticus

Several large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its stake in shares of Atlanticus by 229.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 728 shares of the credit services provider’s stock valued at $41,000 after purchasing an additional 507 shares during the period. FMR LLC increased its position 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 valued at $80,000 after purchasing an additional 1,820 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Atlanticus by 158.8% during the 3rd 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 last quarter. Globeflex Capital L P bought a new position in shares of Atlanticus during the 4th quarter valued at about $119,000. Finally, SG Americas Securities LLC bought a new position in shares of Atlanticus during the 4th quarter valued at about $129,000. Institutional investors own 14.15% of the company’s stock.

Atlanticus Price Performance

The stock has a market capitalization of $716.90 million, a P/E ratio of 10.93 and a beta of 2.16. The firm has a 50-day moving average price of $55.55 and a 200 day moving average price of $48.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44.

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.