JMP Securities Increases Atlanticus (NASDAQ:ATLC) Price Target to $45.00

Atlanticus (NASDAQ:ATLC) had its price objective hoisted by stock analysts at JMP Securities from $39.00 to $45.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “market outperform” rating on the credit services provider’s stock. JMP Securities’ price target indicates a potential upside of 26.12% from the company’s previous close.

Separately, StockNews.com raised shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th.

Atlanticus Stock Performance

Shares of Atlanticus stock opened at $35.68 on Monday. The company has a 50 day moving average of $33.52 and a 200-day moving average of $30.28. Atlanticus has a 1-year low of $23.09 and a 1-year high of $39.53. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.46. The company has a market cap of $527.78 million, a PE ratio of 8.42 and a beta of 1.92.

Atlanticus (NASDAQ:ATLC) last issued its quarterly earnings results on Thursday, August 8th. The credit services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.12. Atlanticus had a net margin of 8.42% and a return on equity of 25.32%. The company had revenue of $315.64 million during the quarter, compared to the consensus estimate of $309.74 million. As a group, equities research analysts forecast that Atlanticus will post 4.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Deal W. Hudson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $31.35, for a total transaction of $78,375.00. Following the completion of the transaction, the director now directly owns 64,955 shares in the company, valued at $2,036,339.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Deal W. Hudson sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $32.75, for a total transaction of $39,300.00. Following the completion of the transaction, the director now directly owns 67,455 shares in the company, valued at $2,209,151.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Deal W. Hudson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $31.35, for a total transaction of $78,375.00. Following the completion of the transaction, the director now owns 64,955 shares of the company’s stock, valued at approximately $2,036,339.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 51.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atlanticus

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers increased its position in Atlanticus by 9.3% in the 2nd quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock valued at $229,000 after acquiring an additional 690 shares during the period. Squarepoint Ops LLC increased its position in Atlanticus by 9.3% in the 2nd quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock valued at $234,000 after acquiring an additional 704 shares during the period. BNP Paribas Financial Markets increased its position in Atlanticus by 65.5% in the 1st quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock valued at $69,000 after acquiring an additional 920 shares during the period. 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. Finally, Denali Advisors LLC increased its position in Atlanticus by 5.2% in the 1st 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 period. 14.15% of the stock is currently 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.