Atlanticus (NASDAQ:ATLC) Trading Up 7.1% – Should You Buy?

Atlanticus Holdings Co. (NASDAQ:ATLC) was up 7.1% during mid-day trading on Friday . The stock traded as high as $47.16 and last traded at $46.81. Approximately 10,800 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 61,646 shares. The stock had previously closed at $43.71.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. B. Riley upgraded shares of Atlanticus to a “strong-buy” rating in a report on Tuesday, January 7th. JMP Securities increased their price objective on Atlanticus from $54.00 to $75.00 and gave the stock a “market outperform” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $57.20.

Atlanticus Stock Up 10.6 %

The stock’s 50-day moving average price is $55.91 and its two-hundred day moving average price is $48.13. The stock has a market capitalization of $712.56 million, a P/E ratio of 10.86 and a beta of 2.16. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC increased its holdings in shares of Atlanticus by 5.0% in the third 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. FMR LLC increased its holdings in shares of Atlanticus by 393.1% in the third quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock worth $80,000 after purchasing an additional 1,820 shares during the period. MetLife Investment Management LLC increased its holdings in shares of Atlanticus by 158.8% in the third quarter. MetLife Investment Management LLC now owns 2,971 shares of the credit services provider’s stock worth $104,000 after purchasing an additional 1,823 shares during the period. State Street Corp increased its holdings in shares of Atlanticus by 2.4% in the third 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 during the period. Finally, Wellington Management Group LLP bought a new position in shares of Atlanticus in the third quarter worth $1,654,000. Hedge funds and other institutional investors own 14.15% of the company’s stock.

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.