B. Riley Has Positive Outlook of Atlanticus FY2024 Earnings

Atlanticus Holdings Co. (NASDAQ:ATLC) – Analysts at B. Riley lifted their FY2024 EPS estimates for Atlanticus in a research note issued to investors on Wednesday, November 20th. B. Riley analyst M. Howlett now anticipates that the credit services provider will post earnings per share of $4.66 for the year, up from their previous forecast of $4.50. B. Riley currently has a “Buy” rating and a $70.00 price target on the stock. The consensus estimate for Atlanticus’ current full-year earnings is $4.41 per share. B. Riley also issued estimates for Atlanticus’ Q4 2024 earnings at $1.31 EPS.

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

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

Atlanticus Price Performance

Shares of NASDAQ:ATLC opened at $55.16 on Monday. Atlanticus has a fifty-two week low of $23.09 and a fifty-two week high of $56.42. The business has a 50-day simple moving average of $38.83 and a two-hundred day simple moving average of $33.28. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market cap of $813.06 million, a price-to-earnings ratio of 12.40 and a beta of 1.92.

Insider Transactions at Atlanticus

In other Atlanticus news, Director Denise M. Harrod sold 1,141 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $49.00, for a total value of $55,909.00. Following the completion of the transaction, the director now directly owns 5,659 shares in the company, valued at $277,291. This represents a 16.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Deal W. Hudson sold 1,200 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $32.75, for a total transaction of $39,300.00. Following the completion of the sale, the director now directly owns 67,455 shares of the company’s stock, valued at approximately $2,209,151.25. This trade represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,204 shares of company stock worth $1,080,197 in the last 90 days. 51.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its stake 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 boosted its position in shares of Atlanticus by 393.1% during the third quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock worth $80,000 after acquiring an additional 1,820 shares during the last quarter. MetLife Investment Management LLC boosted its position in shares of 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 acquiring an additional 1,823 shares during the last quarter. Rhumbline Advisers grew its stake in Atlanticus by 9.3% during the second 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 in the last quarter. Finally, Squarepoint Ops LLC increased its holdings 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 last quarter. Institutional investors own 14.15% of the company’s stock.

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.