Atlanticus (NASDAQ:ATLC) Hits New 52-Week High – Here’s What Happened

Shares of Atlanticus Holdings Corporation (NASDAQ:ATLC) hit a new 52-week high during trading on Friday . The stock traded as high as $93.27 and last traded at $91.5080, with a volume of 36743 shares trading hands. The stock had previously closed at $91.18.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ATLC shares. B. Riley Financial reiterated a “buy” rating on shares of Atlanticus in a report on Thursday, May 14th. Zacks Research upgraded shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 20th. William Blair set a $100.00 price objective on Atlanticus in a report on Wednesday. Citizens Jmp boosted their price objective on Atlanticus from $100.00 to $102.00 and gave the company a “market outperform” rating in a research report on Tuesday, March 17th. Finally, Wall Street Zen upgraded Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.25.

Atlanticus Trading Up 3.1%

The company has a market cap of $1.42 billion, a P/E ratio of 13.97 and a beta of 2.14. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.08. The business has a 50 day moving average price of $76.01 and a 200-day moving average price of $64.64.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings data on Thursday, May 7th. The credit services provider reported $2.23 EPS for the quarter, beating analysts’ consensus estimates 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%. Analysts forecast that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ATLC. Murphy & Mullick Capital Management Corp bought a new position in Atlanticus during the 3rd quarter valued at approximately $38,000. Advisory Services Network LLC bought a new position in Atlanticus during the 3rd quarter valued at approximately $47,000. Jones Financial Companies Lllp bought a new position in Atlanticus during the 1st quarter valued at approximately $71,000. AlphaQuest LLC increased its position in Atlanticus by 20,442.9% during 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 position in Atlanticus during the 1st quarter valued at approximately $87,000. Institutional investors 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.