Atlanticus (NASDAQ:ATLC) Trading 7.1% Higher on Better-Than-Expected Earnings

Atlanticus Holdings Co. (NASDAQ:ATLC)’s share price traded up 7.1% on Friday following a stronger than expected earnings report. The company traded as high as $47.16 and last traded at $46.81. 10,800 shares traded hands during trading, a decline of 82% from the average session volume of 61,646 shares. The stock had previously closed at $43.71.

The credit services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.19. The business had revenue of $353.19 million for the quarter, compared to analyst estimates of $355.02 million. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. B. Riley raised shares of Atlanticus to a “strong-buy” rating in a research report on Tuesday, January 7th. JMP Securities boosted their target price on shares of Atlanticus from $54.00 to $75.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Atlanticus currently has a consensus rating of “Buy” and a consensus price target of $57.20.

Hedge Funds Weigh In On Atlanticus

Institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in shares of Atlanticus in the third quarter valued at about $313,000. Wellington Management Group LLP acquired a new position in shares of Atlanticus in the third quarter valued at about $1,654,000. Barclays PLC grew its stake in shares of Atlanticus by 285.6% in the third quarter. Barclays PLC now owns 8,218 shares of the credit services provider’s stock valued at $289,000 after acquiring an additional 6,087 shares in the last quarter. Geode Capital Management LLC grew 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 acquiring an additional 2,348 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Atlanticus by 53.2% in the fourth quarter. Empowered Funds LLC now owns 26,004 shares of the credit services provider’s stock valued at $1,451,000 after acquiring an additional 9,026 shares in the last quarter. 14.15% of the stock is currently owned by institutional investors and hedge funds.

Atlanticus Price Performance

The company’s 50-day moving average is $55.55 and its two-hundred day moving average is $48.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a market cap of $716.90 million, a P/E ratio of 10.93 and a beta of 2.16.

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.