JMP Securities Issues Positive Forecast for Atlanticus (NASDAQ:ATLC) Stock Price

Atlanticus (NASDAQ:ATLC) had its price target lifted by JMP Securities from $54.00 to $75.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a market outperform rating on the credit services provider’s stock.

A number of other research analysts have also weighed in on the stock. B. Riley boosted their target price on shares of Atlanticus from $50.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. BTIG Research increased their target price on Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Stephens initiated coverage on Atlanticus in a report on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 target price on the stock. Finally, StockNews.com upgraded Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $57.20.

Atlanticus Stock Performance

Shares of NASDAQ ATLC opened at $62.27 on Tuesday. The business’s 50-day simple moving average is $41.71 and its 200-day simple moving average is $34.59. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. Atlanticus has a 52 week low of $23.09 and a 52 week high of $64.44. The firm has a market cap of $917.86 million, a price-to-earnings ratio of 13.99 and a beta of 2.05.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings results on Thursday, November 7th. The credit services provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.23 by $0.04. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. The company had revenue of $351.22 million for the quarter, compared to the consensus estimate of $326.64 million. As a group, equities research analysts expect that Atlanticus will post 4.47 earnings per share for the current fiscal year.

Insider Activity at Atlanticus

In other news, Director Deal W. Hudson sold 1,200 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $32.75, for a total transaction of $39,300.00. Following the sale, the director now directly owns 67,455 shares in the company, valued at approximately $2,209,151.25. The trade was a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Denise M. Harrod sold 1,141 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $49.00, for a total value of $55,909.00. Following the completion of the transaction, the director now owns 5,659 shares of the company’s stock, valued at $277,291. The trade was a 16.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,204 shares of company stock worth $1,080,197 over the last three months. Company insiders own 51.80% of the company’s stock.

Institutional Trading of Atlanticus

Institutional investors have recently made changes to their positions in the business. FMR LLC lifted its stake in Atlanticus by 393.1% during 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 lifted its position in shares of Atlanticus by 158.8% during the 3rd quarter. MetLife Investment Management LLC now owns 2,971 shares of the credit services provider’s stock worth $104,000 after buying an additional 1,823 shares during the period. Rhumbline Advisers boosted its stake in Atlanticus by 9.3% in the 2nd quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock valued at $229,000 after buying an additional 690 shares in the last quarter. Squarepoint Ops LLC boosted its stake in Atlanticus by 9.3% in the 2nd quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock valued at $234,000 after buying an additional 704 shares in the last quarter. Finally, Barclays PLC grew its position in Atlanticus by 285.6% in the third quarter. Barclays PLC now owns 8,218 shares of the credit services provider’s stock valued at $289,000 after acquiring an additional 6,087 shares during the period. 14.15% of the stock is currently owned by institutional investors and hedge funds.

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.