Atlanticus (NASDAQ:ATLC) Hits New 52-Week High – Time to Buy?

Atlanticus Holdings Corporation (NASDAQ:ATLC)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $89.54 and last traded at $90.88, with a volume of 1270 shares. The stock had previously closed at $83.14.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ATLC. Weiss Ratings raised Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Citizens Jmp lifted their target price on Atlanticus from $100.00 to $102.00 and gave the stock a “market outperform” rating in a report on Tuesday, March 17th. B. Riley Financial reissued a “buy” rating on shares of Atlanticus in a research report on Thursday, May 14th. Wall Street Zen upgraded shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Zacks Research raised shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $101.67.

Atlanticus Stock Up 2.5%

The stock has a 50-day moving average of $68.34 and a 200-day moving average of $61.91. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 13.54 and a beta of 2.14.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings data on Thursday, May 7th. The credit services provider reported $2.23 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.54. The firm had revenue of $679.59 million during the quarter, compared to analysts’ expectations of $749.36 million. Atlanticus had a return on equity of 23.43% and a net margin of 5.86%. Sell-side analysts predict that Atlanticus Holdings Corporation will post 9.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Murphy & Mullick Capital Management Corp bought a new stake in Atlanticus during the third quarter worth about $38,000. Advisory Services Network LLC bought a new position in Atlanticus in the 3rd quarter valued at about $47,000. Jones Financial Companies Lllp acquired a new position in shares of Atlanticus in the 1st quarter valued at approximately $71,000. AlphaQuest LLC raised its position in shares of Atlanticus by 20,442.9% in the 3rd quarter. AlphaQuest LLC now owns 1,438 shares of the credit services provider’s stock valued at $84,000 after buying an additional 1,431 shares in the last quarter. Finally, Inspire Investing LLC bought a new stake in shares of Atlanticus during the 1st quarter worth approximately $87,000. Institutional investors and hedge funds own 14.15% of the company’s stock.

Atlanticus Company Profile

Atlanticus Holdings Corporation is a specialty financial services holding company that provides credit products and solutions to consumers across the United States. Through its subsidiaries, the company offers proprietary credit card programs, installment loan products and deposit accounts designed to serve customers who may have limited access to traditional credit. Atlanticus markets its offerings through a variety of channels, including direct‐to‐consumer online platforms, mail order, call centers and partnerships with retail and e-commerce businesses.

The company underwrites and services credit card portfolios under private-label and co-branded agreements, combining technology‐enabled underwriting with tailored customer service.