StockNews.com Upgrades Atlanticus (NASDAQ:ATLC) to “Strong-Buy”

StockNews.com upgraded shares of Atlanticus (NASDAQ:ATLC) from a buy rating to a strong-buy rating in a research note published on Wednesday morning.

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

Atlanticus Stock Performance

Shares of ATLC stock opened at $30.35 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.48. The firm has a fifty day simple moving average of $26.82 and a two-hundred day simple moving average of $30.45. Atlanticus has a 12 month low of $23.09 and a 12 month high of $43.59. The firm has a market capitalization of $448.88 million, a PE ratio of 7.16 and a beta of 1.88.

Atlanticus (NASDAQ:ATLC) last posted its earnings results on Friday, May 10th. The credit services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $0.98 by $0.11. Atlanticus had a net margin of 8.67% and a return on equity of 26.67%. The company had revenue of $290.17 million during the quarter, compared to the consensus estimate of $309.78 million. Analysts forecast that Atlanticus will post 4.52 EPS for the current fiscal year.

Insider Activity at Atlanticus

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

Institutional Trading of Atlanticus

Institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets raised its holdings in Atlanticus by 65.5% during the 1st quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock valued at $69,000 after acquiring an additional 920 shares during the period. Empowered Funds LLC raised its stake in shares of Atlanticus by 7.5% during the 1st quarter. Empowered Funds LLC now owns 15,094 shares of the credit services provider’s stock valued at $447,000 after purchasing an additional 1,050 shares during the period. Denali Advisors LLC lifted its holdings in Atlanticus by 5.2% during the 1st quarter. Denali Advisors LLC now owns 26,040 shares of the credit services provider’s stock worth $771,000 after purchasing an additional 1,285 shares in the last quarter. Vanguard Group Inc. boosted its stake in Atlanticus by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider’s stock worth $7,655,000 after purchasing an additional 2,453 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Atlanticus by 1.2% during 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 in the last quarter. 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.