B. Riley Increases Atlanticus (NASDAQ:ATLC) Price Target to $70.00

Atlanticus (NASDAQ:ATLC) had its price objective increased by analysts at B. Riley from $50.00 to $70.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the credit services provider’s stock. B. Riley’s price target suggests a potential upside of 26.90% from the stock’s current price.

Several other equities analysts also recently commented on ATLC. Stephens began coverage on shares of Atlanticus in a research note on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 price target on the stock. BTIG Research raised their target price on shares of Atlanticus from $45.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. StockNews.com upgraded Atlanticus from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Finally, JMP Securities lifted their price objective on Atlanticus from $45.00 to $54.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $53.00.

Atlanticus Trading Up 1.6 %

Atlanticus stock opened at $55.16 on Thursday. The stock has a 50-day simple moving average of $38.83 and a 200 day simple moving average of $33.20. The stock has a market capitalization of $813.06 million, a P/E ratio of 12.40 and a beta of 1.92. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. Atlanticus has a 52 week low of $23.09 and a 52 week high of $56.42.

Atlanticus (NASDAQ:ATLC) last posted its earnings results on Thursday, November 7th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.04. The company had revenue of $351.22 million during the quarter, compared to analysts’ expectations of $326.64 million. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. Analysts expect that Atlanticus will post 4.41 earnings per share for the current year.

Insider Buying and Selling at Atlanticus

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 1.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mitchell Saunders sold 16,004 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $55.55, for a total transaction of $889,022.20. Following the sale, the chief accounting officer now directly owns 50,973 shares in the company, valued at approximately $2,831,550.15. The trade was a 23.89 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,204 shares of company stock valued at $1,080,197. 51.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atlanticus

A number of institutional investors have recently added to or reduced their stakes in ATLC. Barclays PLC raised its position in Atlanticus by 285.6% during the 3rd quarter. Barclays PLC now owns 8,218 shares of the credit services provider’s stock worth $289,000 after purchasing an additional 6,087 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Atlanticus by 2.0% in the third quarter. Geode Capital Management LLC now owns 122,501 shares of the credit services provider’s stock valued at $4,298,000 after buying an additional 2,348 shares during the period. Jane Street Group LLC bought a new position in shares of Atlanticus during the third quarter worth about $313,000. Wellington Management Group LLP acquired a new position in shares of Atlanticus in the third quarter worth approximately $1,654,000. Finally, State Street Corp boosted its holdings in Atlanticus by 2.4% in the third quarter. State Street Corp now owns 93,431 shares of the credit services provider’s stock valued at $3,278,000 after acquiring an additional 2,212 shares during the last quarter. 14.15% of the stock is owned by institutional investors.

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.