Atlanticus (NASDAQ:ATLC) Stock Price Up 5.9% on Analyst Upgrade

Atlanticus Holdings Co. (NASDAQ:ATLC) shares rose 5.9% during trading on Thursday after JMP Securities raised their price target on the stock from $45.00 to $54.00. JMP Securities currently has a market outperform rating on the stock. Atlanticus traded as high as $48.90 and last traded at $48.90. Approximately 24,371 shares were traded during trading, an increase of 44% from the average daily volume of 16,941 shares. The stock had previously closed at $46.18.

Several other equities analysts also recently commented on the stock. Stephens initiated coverage on shares of Atlanticus in a research report on Wednesday. They set an “overweight” rating and a $54.00 target price on the stock. StockNews.com raised Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Finally, BTIG Research boosted their target price on Atlanticus from $45.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $48.75.

Insider Buying and Selling at Atlanticus

In other Atlanticus news, Director Deal W. Hudson sold 2,500 shares of Atlanticus stock in a transaction that occurred 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 transaction, the director now directly owns 64,955 shares of the company’s stock, valued at $2,036,339.25. The trade was a 3.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 51.80% of the company’s stock.

Institutional Investors Weigh In On Atlanticus

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Atlanticus by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider’s stock valued at $7,655,000 after purchasing an additional 2,453 shares during the last quarter. Empowered Funds LLC increased its holdings 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 purchasing an additional 804 shares during the period. Squarepoint Ops LLC raised its position in shares of Atlanticus by 9.3% during the second quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock valued at $234,000 after buying an additional 704 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Atlanticus by 9.3% in the second quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock valued at $229,000 after buying an additional 690 shares during the period. Finally, MetLife Investment Management LLC grew its position 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 worth $104,000 after buying an additional 1,823 shares in the last quarter. Institutional investors and hedge funds own 14.15% of the company’s stock.

Atlanticus Stock Up 6.5 %

The firm has a 50 day moving average of $36.35 and a 200-day moving average of $32.18. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.43. The stock has a market capitalization of $725.16 million, a P/E ratio of 11.06 and a beta of 1.92.

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