B. Riley Estimates Atlanticus’ FY2024 Earnings (NASDAQ:ATLC)

Atlanticus Holdings Co. (NASDAQ:ATLC) – Analysts at B. Riley upped their FY2024 EPS estimates for shares of Atlanticus in a report released on Wednesday, November 20th. B. Riley analyst M. Howlett now expects that the credit services provider will earn $4.66 per share for the year, up from their previous estimate of $4.50. B. Riley currently has a “Buy” rating and a $70.00 target price on the stock. The consensus estimate for Atlanticus’ current full-year earnings is $4.47 per share. B. Riley also issued estimates for Atlanticus’ Q4 2024 earnings at $1.31 EPS.

A number of other research firms have also weighed in on ATLC. StockNews.com raised shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Stephens began coverage on shares of Atlanticus in a research report on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 price objective on the stock. BTIG Research upped their target price 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. Finally, JMP Securities upped their target price on shares of Atlanticus from $45.00 to $54.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $53.00.

Atlanticus Stock Performance

Atlanticus stock opened at $57.22 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. Atlanticus has a 1-year low of $23.09 and a 1-year high of $57.93. The firm has a market capitalization of $843.42 million, a P/E ratio of 12.86 and a beta of 1.92. The company’s 50-day moving average is $39.34 and its 200 day moving average is $33.47.

Atlanticus (NASDAQ:ATLC) last posted its quarterly earnings data on Thursday, November 7th. The credit services provider reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $326.64 million.

Insider Activity

In other news, CAO Mitchell Saunders sold 16,004 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $55.55, for a total value of $889,022.20. Following the sale, the chief accounting officer now directly owns 50,973 shares in the company, valued at approximately $2,831,550.15. This trade represents a 23.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Deal W. Hudson sold 1,200 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were 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 owns 67,455 shares in the company, valued at $2,209,151.25. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have 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

Institutional investors have recently modified their holdings of the company. Barclays PLC boosted its stake 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 in the last quarter. Geode Capital Management LLC boosted its stake in Atlanticus by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 122,501 shares of the credit services provider’s stock worth $4,298,000 after purchasing an additional 2,348 shares in the last quarter. Jane Street Group LLC acquired a new stake in Atlanticus in the 3rd quarter worth approximately $313,000. Wellington Management Group LLP acquired a new stake in Atlanticus in the 3rd quarter worth approximately $1,654,000. Finally, State Street Corp boosted its stake in Atlanticus by 2.4% in the 3rd quarter. State Street Corp now owns 93,431 shares of the credit services provider’s stock worth $3,278,000 after purchasing an additional 2,212 shares in the last quarter. 14.15% of the stock is currently 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.