What is B. Riley’s Forecast for Atlanticus FY2024 Earnings?

Atlanticus Holdings Co. (NASDAQ:ATLC) – Equities research analysts at B. Riley lifted their FY2024 earnings estimates for shares of Atlanticus in a report released on Wednesday, November 20th. B. Riley analyst M. Howlett now anticipates that the credit services provider will post earnings per share of $4.66 for the year, up from their prior 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.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $326.64 million.

Several other research analysts also recently issued reports on the company. BTIG Research upped their price objective on Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Stephens assumed coverage on shares of Atlanticus in a research note on Wednesday, November 13th. They set an “overweight” rating and a $54.00 price target for the company. JMP Securities lifted their price target on shares of Atlanticus from $45.00 to $54.00 and gave the stock a “market outperform” rating in a report on Wednesday, November 13th. Finally, StockNews.com upgraded 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, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $53.00.

Atlanticus Price Performance

Shares of ATLC opened at $57.01 on Monday. The business has a 50-day simple moving average of $39.34 and a two-hundred day simple moving average of $33.47. Atlanticus has a 12-month low of $23.09 and a 12-month high of $57.93. The stock has a market cap of $840.33 million, a PE ratio of 12.81 and a beta of 1.92. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59.

Institutional Investors Weigh In On Atlanticus

Several hedge funds and other institutional investors have recently bought and sold shares of ATLC. BNP Paribas Financial Markets increased its position 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 buying an additional 920 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Atlanticus by 1.0% during the first quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider’s stock valued at $7,655,000 after acquiring an additional 2,453 shares in the last quarter. Rhumbline Advisers raised its position in shares of Atlanticus by 9.3% during the second quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock worth $229,000 after purchasing an additional 690 shares during the period. Squarepoint Ops LLC lifted its holdings 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 worth $234,000 after purchasing an additional 704 shares in the last quarter. Finally, Empowered Funds LLC grew its position in Atlanticus by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 16,978 shares of the credit services provider’s stock valued at $596,000 after purchasing an additional 804 shares during the period. 14.15% of the stock is owned by institutional investors.

Insider Buying and Selling at Atlanticus

In other Atlanticus news, Director Deal W. Hudson sold 2,500 shares of Atlanticus stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $31.35, for a total value of $78,375.00. Following the completion of the sale, the director now directly owns 64,955 shares in the company, valued at approximately $2,036,339.25. The trade was a 3.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Mitchell Saunders sold 16,004 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $55.55, for a total transaction of $889,022.20. Following the sale, the chief accounting officer now directly owns 50,973 shares of the company’s stock, valued at approximately $2,831,550.15. This trade represents a 23.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,204 shares of company stock valued at $1,080,197. 51.80% of the stock is currently owned by insiders.

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.