Atlanticus (NASDAQ:ATLC) Stock Price Expected to Rise, JMP Securities Analyst Says

Atlanticus (NASDAQ:ATLC) had its price target lifted by research analysts at JMP Securities from $45.00 to $54.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “market outperform” rating on the credit services provider’s stock. JMP Securities’ price objective points to a potential upside of 9.76% from the company’s current price.

Other equities research analysts have also issued reports about the stock. BTIG Research boosted their price objective on shares of Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday. Stephens assumed coverage on Atlanticus in a report on Wednesday. They issued an “overweight” rating and a $54.00 price objective on the stock. Finally, StockNews.com raised Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. 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. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $48.75.

Atlanticus Trading Up 6.5 %

Atlanticus stock opened at $49.20 on Wednesday. Atlanticus has a one year low of $23.09 and a one year high of $49.53. The stock has a market cap of $725.16 million, a PE ratio of 11.06 and a beta of 1.92. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.43 and a current ratio of 1.44. The stock has a 50-day moving average of $36.35 and a two-hundred day moving average of $32.18.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings data 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 firm had revenue of $351.22 million during the quarter, compared to analyst estimates of $326.64 million. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. On average, research analysts anticipate that Atlanticus will post 4.54 EPS for the current fiscal year.

Insider Buying and Selling at Atlanticus

In other Atlanticus news, Director Deal W. Hudson sold 2,500 shares of the business’s 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 completion of the transaction, the director now directly owns 64,955 shares of the company’s stock, valued at approximately $2,036,339.25. The trade was a 3.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 51.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atlanticus

Several large investors have recently made changes to their positions in ATLC. BNP Paribas Financial Markets raised its holdings 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 worth $69,000 after purchasing an additional 920 shares during the period. FMR LLC increased its position in shares of Atlanticus by 393.1% in the third quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock valued at $80,000 after buying an additional 1,820 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Atlanticus by 158.8% in the third quarter. MetLife Investment Management LLC now owns 2,971 shares of the credit services provider’s stock valued at $104,000 after buying an additional 1,823 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Atlanticus by 9.3% during the 2nd quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock worth $229,000 after buying an additional 690 shares during the period. Finally, Squarepoint Ops LLC lifted its position in shares of Atlanticus by 9.3% during the 2nd 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 in the last quarter. 14.15% of the stock is currently owned by institutional investors and hedge funds.

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.