Atlanticus (NASDAQ:ATLC) Given New $75.00 Price Target at JMP Securities

Atlanticus (NASDAQ:ATLC) had its price objective raised by JMP Securities from $54.00 to $75.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a market outperform rating on the credit services provider’s stock.

A number of other brokerages also recently commented on ATLC. StockNews.com upgraded Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. BTIG Research upped their target price on Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Stephens initiated coverage on Atlanticus in a research note on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 price target on the stock. Finally, B. Riley upped their price objective on shares of Atlanticus from $50.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $57.20.

Atlanticus Price Performance

NASDAQ:ATLC opened at $62.27 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The business’s 50-day moving average price is $41.71 and its 200 day moving average price is $34.59. Atlanticus has a 52-week low of $23.09 and a 52-week high of $64.44. The firm has a market cap of $917.86 million, a P/E ratio of 13.99 and a beta of 2.05.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings data on Thursday, November 7th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.04. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. The company had revenue of $351.22 million for the quarter, compared to analysts’ expectations of $326.64 million. As a group, sell-side analysts predict that Atlanticus will post 4.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Denise M. Harrod sold 1,141 shares of the 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 sale, the director now directly owns 5,659 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mitchell Saunders sold 16,004 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $55.55, for a total transaction of $889,022.20. Following the transaction, the chief accounting officer now directly owns 50,973 shares in the company, valued at $2,831,550.15. The trade was a 23.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,204 shares of company stock worth $1,080,197. 51.80% of the stock is currently owned by company insiders.

Institutional Trading of Atlanticus

Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC increased its position in Atlanticus by 285.6% in 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 grew its stake in shares of Atlanticus by 2.0% in the 3rd 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 in the last quarter. Jane Street Group LLC acquired a new position in Atlanticus in the third quarter worth approximately $313,000. Wellington Management Group LLP bought a new position in Atlanticus during the third quarter valued at approximately $1,654,000. Finally, State Street Corp lifted its stake 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 currently owned by hedge funds and other 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.