Atlanticus (NASDAQ:ATLC) Trading Up 6.6% on Analyst Upgrade

Atlanticus Holdings Corporation (NASDAQ:ATLC)’s stock price rose 6.6% during mid-day trading on Tuesday after Citizens Jmp raised their price target on the stock from $100.00 to $102.00. Citizens Jmp currently has a market outperform rating on the stock. Atlanticus traded as high as $52.87 and last traded at $52.1550. Approximately 10,931 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 68,488 shares. The stock had previously closed at $48.93.

Several other equities analysts have also weighed in on ATLC. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Atlanticus in a report on Monday, December 29th. Wall Street Zen upgraded shares of Atlanticus from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup reaffirmed an “outperform” rating on shares of Atlanticus in a report on Thursday, December 11th. Finally, B. Riley Financial started coverage on shares of Atlanticus in a research report on Wednesday, January 7th. They issued a “buy” rating and a $90.00 price objective for the company. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Atlanticus currently has a consensus rating of “Moderate Buy” and an average target price of $89.25.

Insider Buying and Selling at Atlanticus

In other news, Director Deal W. Hudson sold 1,675 shares of the stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $59.72, for a total transaction of $100,031.00. Following the transaction, the director owned 60,467 shares in the company, valued at $3,611,089.24. This trade represents a 2.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 51.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Atlanticus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in shares of Atlanticus by 5.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,194 shares of the credit services provider’s stock valued at $616,000 after purchasing an additional 478 shares during the period. Jump Financial LLC raised its position in shares of Atlanticus by 6.1% during the 2nd quarter. Jump Financial LLC now owns 9,344 shares of the credit services provider’s stock worth $512,000 after purchasing an additional 537 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Atlanticus by 9.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 7,783 shares of the credit services provider’s stock valued at $521,000 after buying an additional 681 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in Atlanticus in the 3rd quarter valued at about $38,000. Finally, Advisory Services Network LLC acquired a new stake in Atlanticus in the 3rd quarter worth about $47,000. 14.15% of the stock is owned by hedge funds and other institutional investors.

Atlanticus Trading Up 7.2%

The company has a 50 day simple moving average of $55.99 and a 200 day simple moving average of $59.54. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $782.40 million, a PE ratio of 8.79 and a beta of 1.95.

Atlanticus (NASDAQ:ATLC) last released its earnings results on Thursday, March 12th. The credit services provider reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.10. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $691.81 million. Atlanticus had a return on equity of 22.39% and a net margin of 6.21%. Analysts anticipate that Atlanticus Holdings Corporation will post 4.49 earnings per share for the current year.

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.