JMP Securities Raises Atlanticus (NASDAQ:ATLC) Price Target to $54.00

Atlanticus (NASDAQ:ATLC) had its price objective raised by stock analysts at JMP Securities from $45.00 to $54.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “market outperform” rating on the credit services provider’s stock. JMP Securities’ price objective suggests a potential upside of 9.76% from the company’s current price.

Other analysts have also recently issued research reports about the stock. BTIG Research upped their price objective on shares of Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday. Stephens initiated coverage on Atlanticus in a research report on Wednesday. They issued an “overweight” rating and a $54.00 price target for the company. Finally, StockNews.com raised Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $48.75.

Atlanticus Stock Performance

NASDAQ ATLC opened at $49.20 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.43. Atlanticus has a 1-year low of $23.09 and a 1-year high of $49.53. The company has a market cap of $725.16 million, a PE ratio of 11.06 and a beta of 1.92. The stock’s 50 day simple moving average is $36.35 and its 200-day simple moving average is $32.18.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings data on Thursday, November 7th. The credit services provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.04. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. The company had revenue of $351.22 million for the quarter, compared to analyst estimates of $326.64 million. As a group, equities research analysts anticipate that Atlanticus will post 4.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other Atlanticus news, Director Deal W. Hudson sold 2,500 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $31.35, for a total transaction of $78,375.00. Following the completion of the sale, the director now owns 64,955 shares of the company’s stock, valued at $2,036,339.25. This trade represents a 3.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 51.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Atlanticus

A number of hedge funds have recently modified their holdings of the business. Rhumbline Advisers lifted its position in Atlanticus by 9.3% in the second quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock valued at $229,000 after buying an additional 690 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of 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 period. Empowered Funds LLC boosted its position in shares of Atlanticus by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 16,978 shares of the credit services provider’s stock worth $596,000 after purchasing an additional 804 shares during the period. BNP Paribas Financial Markets increased its holdings 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 valued at $69,000 after purchasing an additional 920 shares during the last quarter. Finally, FMR LLC raised its position in Atlanticus by 393.1% in the third quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock valued at $80,000 after purchasing an additional 1,820 shares during the period. 14.15% of the stock is currently owned by hedge funds and other institutional investors.

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.