Atlanticus (NASDAQ:ATLC) Shares Gap Up to $31.55

Shares of Atlanticus Holdings Co. (NASDAQ:ATLC) gapped up before the market opened on Tuesday . The stock had previously closed at $31.55, but opened at $33.14. Atlanticus shares last traded at $33.93, with a volume of 2,538 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ATLC shares. Keefe, Bruyette & Woods began coverage on Atlanticus in a research report on Wednesday, May 22nd. They issued a “market perform” rating and a $33.00 price objective for the company. StockNews.com upgraded Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. BTIG Research assumed coverage on shares of Atlanticus in a report on Friday, June 7th. They issued a “buy” rating and a $45.00 price objective on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $39.00 target price on shares of Atlanticus in a research note on Tuesday, May 28th.

Atlanticus Price Performance

The company has a debt-to-equity ratio of 0.46, a current ratio of 1.43 and a quick ratio of 1.43. The firm has a market capitalization of $525.86 million, a price-to-earnings ratio of 8.29 and a beta of 1.93. The stock has a 50 day moving average price of $33.18 and a two-hundred day moving average price of $29.68.

Atlanticus (NASDAQ:ATLC) last announced its earnings results on Thursday, August 8th. The credit services provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.12. Atlanticus had a net margin of 8.42% and a return on equity of 25.32%. The firm had revenue of $315.64 million for the quarter, compared to the consensus estimate of $309.74 million. As a group, analysts expect that Atlanticus Holdings Co. will post 4.54 EPS for the current year.

Insider Buying and Selling at Atlanticus

In other news, Director Deal W. Hudson sold 2,500 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $31.35, for a total transaction of $78,375.00. Following the completion of the transaction, the director now directly owns 64,955 shares of the company’s stock, valued at $2,036,339.25. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Deal W. Hudson sold 1,200 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $32.75, for a total value of $39,300.00. Following the transaction, the director now owns 67,455 shares of the company’s stock, valued at $2,209,151.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Deal W. Hudson sold 2,500 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were 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 owns 64,955 shares in the company, valued at $2,036,339.25. The disclosure for this sale can be found here. 51.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in Atlanticus by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 602,272 shares of the credit services provider’s stock valued at $23,290,000 after purchasing an additional 7,234 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Atlanticus by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider’s stock valued at $7,655,000 after buying an additional 2,453 shares in the last quarter. Denali Advisors LLC grew its position in shares of Atlanticus by 5.2% in the 1st quarter. Denali Advisors LLC now owns 26,040 shares of the credit services provider’s stock valued at $771,000 after buying an additional 1,285 shares during the last quarter. Empowered Funds LLC boosted its stake in Atlanticus by 7.5% in the first quarter. Empowered Funds LLC now owns 15,094 shares of the credit services provider’s stock valued at $447,000 after acquiring an additional 1,050 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of 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 purchasing an additional 920 shares during the last quarter. 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.