Atlanticus (NASDAQ:ATLC) Lowered to Buy at StockNews.com

StockNews.com downgraded shares of Atlanticus (NASDAQ:ATLC) from a strong-buy rating to a buy rating in a research note released on Tuesday morning.

A number of other research firms have also commented on ATLC. BTIG Research started coverage on shares of Atlanticus in a research report on Friday, June 7th. They set a buy rating and a $45.00 price target on the stock. JMP Securities reaffirmed a market outperform rating and set a $39.00 target price on shares of Atlanticus in a report on Tuesday, May 28th. Finally, Keefe, Bruyette & Woods started coverage on Atlanticus in a research note on Wednesday, May 22nd. They issued a market perform rating and a $33.00 price target for the company. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $39.25.

Atlanticus Price Performance

Atlanticus stock opened at $26.12 on Tuesday. The company has a market capitalization of $386.31 million, a price-to-earnings ratio of 6.16 and a beta of 1.88. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.48. Atlanticus has a 12 month low of $23.09 and a 12 month high of $43.70. The stock’s 50 day moving average is $26.36 and its 200-day moving average is $30.64.

Atlanticus (NASDAQ:ATLC) last issued its quarterly earnings data on Friday, May 10th. The credit services provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.11. Atlanticus had a return on equity of 26.67% and a net margin of 8.67%. The firm had revenue of $290.17 million for the quarter, compared to analyst estimates of $309.78 million. Equities research analysts expect that Atlanticus will post 4.52 EPS for the current year.

Insider Activity

In related news, Director Deal W. Hudson sold 1,200 shares of Atlanticus stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $26.05, for a total value of $31,260.00. Following the transaction, the director now directly owns 68,655 shares of the company’s stock, valued at $1,788,462.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Atlanticus news, Director Deal W. Hudson sold 1,200 shares of Atlanticus stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $26.05, for a total value of $31,260.00. Following the transaction, the director now owns 68,655 shares in the company, valued at $1,788,462.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Frank J. Hanna III bought 263,432 shares of the stock in a transaction on Tuesday, April 9th. The shares were acquired at an average cost of $28.21 per share, with a total value of $7,431,416.72. Following the purchase, the insider now owns 263,432 shares of the company’s stock, valued at approximately $7,431,416.72. The disclosure for this purchase can be found here. Corporate insiders own 51.80% of the company’s stock.

Institutional Trading of Atlanticus

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC boosted its holdings in shares of Atlanticus by 23.8% during the 3rd quarter. Barclays PLC now owns 2,263 shares of the credit services provider’s stock valued at $68,000 after acquiring an additional 435 shares in the last quarter. Swiss National Bank boosted its stake in shares of Atlanticus by 16.5% during the third quarter. Swiss National Bank now owns 12,700 shares of the credit services provider’s stock valued at $385,000 after purchasing an additional 1,800 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Atlanticus in the third quarter valued at approximately $30,000. O Shaughnessy Asset Management LLC acquired a new position in shares of Atlanticus in the third quarter valued at approximately $282,000. Finally, Dimensional Fund Advisors LP raised its holdings in Atlanticus by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 602,272 shares of the credit services provider’s stock valued at $23,290,000 after buying an additional 7,234 shares during the last quarter. 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.