Atlanticus (NASDAQ:ATLC) Stock Rating Lowered by Zacks Research

Atlanticus (NASDAQ:ATLC) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

A number of other analysts also recently issued reports on the stock. B. Riley Financial reiterated a “buy” rating on shares of Atlanticus in a research report on Thursday, May 14th. Jefferies Financial Group raised their target price on Atlanticus from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Capital One Financial set a $144.00 price target on Atlanticus in a research note on Monday. Wall Street Zen raised Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 5th. Finally, HSBC set a $144.00 price target on Atlanticus in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $126.00.

Atlanticus Stock Up 1.3%

Shares of ATLC opened at $97.83 on Monday. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 14.60 and a beta of 2.11. Atlanticus has a 52 week low of $45.74 and a 52 week high of $112.61. The stock’s 50-day moving average price is $90.34 and its 200-day moving average price is $70.58. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.08.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings results 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. Atlanticus had a return on equity of 23.43% and a net margin of 5.86%.The company had revenue of $679.59 million during the quarter, compared to analysts’ expectations of $749.36 million. On average, sell-side analysts predict that Atlanticus will post 9.48 EPS for the current year.

Insider Transactions at Atlanticus

In other news, major shareholder Frank J. Hanna III sold 15,676 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $104.26, for a total value of $1,634,379.76. Following the transaction, the insider directly owned 259,392 shares of the company’s stock, valued at approximately $27,044,209.92. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey A. Howard sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $103.01, for a total transaction of $1,030,100.00. Following the transaction, the chief executive officer owned 663,265 shares in the company, valued at $68,322,927.65. The trade was a 1.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 75,000 shares of company stock valued at $7,868,627 over the last ninety days. Company insiders own 51.00% of the company’s stock.

Institutional Trading of Atlanticus

A number of hedge funds have recently bought and sold shares of the business. Range Financial Group LLC increased its holdings in shares of Atlanticus by 5.8% during the 1st quarter. Range Financial Group LLC now owns 4,526 shares of the credit services provider’s stock worth $237,000 after buying an additional 247 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of Atlanticus during the 2nd quarter valued at approximately $33,000. Price T Rowe Associates Inc. MD lifted its holdings in 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 acquiring an additional 478 shares during the last quarter. Jump Financial LLC lifted its holdings in Atlanticus by 6.1% in the second quarter. Jump Financial LLC now owns 9,344 shares of the credit services provider’s stock valued at $512,000 after acquiring an additional 537 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Atlanticus by 9.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 7,783 shares of the credit services provider’s stock worth $521,000 after acquiring an additional 681 shares during the period. 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.