Atlanticus (NASDAQ:ATLC) Upgraded to “Strong-Buy” by StockNews.com

StockNews.com upgraded shares of Atlanticus (NASDAQ:ATLC) from a buy rating to a strong-buy rating in a research note published on Wednesday morning.

Several other equities research analysts have also recently commented on the company. Keefe, Bruyette & Woods began coverage on Atlanticus in a research note on Wednesday, May 22nd. They issued a market perform rating and a $33.00 target price for the company. JMP Securities reiterated a market outperform rating and issued a $39.00 price objective on shares of Atlanticus in a research report on Tuesday, May 28th. Finally, BTIG Research started coverage on shares of Atlanticus in a research note on Friday, June 7th. They issued a buy rating and a $45.00 target price on the stock. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Atlanticus has a consensus rating of Moderate Buy and an average target price of $39.25.

Atlanticus Stock Performance

Atlanticus stock opened at $30.35 on Wednesday. The stock has a 50-day simple moving average of $26.82 and a 200 day simple moving average of $30.45. The stock has a market capitalization of $448.88 million, a price-to-earnings ratio of 7.16 and a beta of 1.88. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.48. Atlanticus has a 12-month low of $23.09 and a 12-month high of $43.59.

Atlanticus (NASDAQ:ATLC) last announced its earnings results on Friday, May 10th. The credit services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.11. Atlanticus had a net margin of 8.67% and a return on equity of 26.67%. The company had revenue of $290.17 million during the quarter, compared to the consensus estimate of $309.78 million. On average, research analysts anticipate that Atlanticus will post 4.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Deal W. Hudson sold 1,200 shares of Atlanticus stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $26.05, for a total transaction of $31,260.00. Following the transaction, the director now owns 68,655 shares in the company, valued at approximately $1,788,462.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Deal W. Hudson sold 1,200 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $26.05, for a total value of $31,260.00. Following the sale, the director now directly owns 68,655 shares of the company’s stock, valued at approximately $1,788,462.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Frank J. Hanna III bought 263,432 shares of the stock in a transaction on Tuesday, April 9th. The shares were purchased at an average price of $28.21 per share, with a total value of $7,431,416.72. Following the acquisition, the insider now owns 263,432 shares in the company, valued at approximately $7,431,416.72. The disclosure for this purchase can be found here. 51.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atlanticus

Several hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its holdings in Atlanticus by 65.5% during the first 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 last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Atlanticus during the 3rd quarter worth about $282,000. Empowered Funds LLC grew its holdings in shares of 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 in the last quarter. Denali Advisors LLC increased its position in shares of Atlanticus by 5.2% in the first 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 last quarter. Finally, Vanguard Group Inc. raised its holdings in Atlanticus by 1.0% during the first quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider’s stock worth $7,655,000 after acquiring an additional 2,453 shares in 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.