B. Riley Financial Raises Atlanticus (NASDAQ:ATLC) Price Target to $119.00

Atlanticus (NASDAQ:ATLC) had its target price boosted by equities researchers at B. Riley Financial from $111.00 to $119.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the credit services provider’s stock. B. Riley Financial’s target price points to a potential upside of 22.35% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. William Blair set a $100.00 target price on shares of Atlanticus in a research note on Wednesday, June 10th. Wall Street Zen raised shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. BTIG Research increased their target price on shares of Atlanticus from $105.00 to $179.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. HSBC set a $144.00 price target on Atlanticus in a research note on Monday, July 13th. Finally, Capital One Financial set a $144.00 price target on Atlanticus in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.00.

Atlanticus Stock Performance

Shares of NASDAQ ATLC traded up $3.44 during trading on Thursday, reaching $97.26. 118,970 shares of the company traded hands, compared to its average volume of 109,541. Atlanticus has a 12-month low of $47.50 and a 12-month high of $114.34. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.99. The stock has a market cap of $1.48 billion, a P/E ratio of 12.67 and a beta of 2.02. The firm’s fifty day simple moving average is $99.34 and its 200 day simple moving average is $80.45.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings results on Thursday, August 6th. The credit services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.08. Atlanticus had a return on equity of 25.17% and a net margin of 5.80%.The company had revenue of $744.31 million during the quarter, compared to analysts’ expectations of $716.35 million. As a group, research analysts anticipate that Atlanticus will post 9.48 earnings per share for the current fiscal year.

Insider Transactions at Atlanticus

In other news, CFO William Mccamey sold 10,000 shares of Atlanticus stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $103.01, for a total value of $1,030,100.00. Following the sale, the chief financial officer directly owned 127,410 shares of the company’s stock, valued at $13,124,504.10. The trade was a 7.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Frank J. Hanna III sold 15,676 shares of the stock in a transaction on 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 completion of the transaction, the insider directly owned 259,392 shares of the company’s stock, valued at approximately $27,044,209.92. This represents a 5.70% 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 in the last 90 days. Corporate insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Atlanticus

A number of large investors have recently modified their holdings of ATLC. Financial Management Professionals Inc. purchased a new position in Atlanticus during the 2nd quarter valued at about $33,000. Advisory Services Network LLC acquired a new position in shares of Atlanticus in the third quarter valued at approximately $47,000. Jones Financial Companies Lllp acquired a new position in shares of Atlanticus in the first quarter valued at approximately $71,000. Inspire Investing LLC purchased a new stake in Atlanticus during the 1st quarter worth approximately $87,000. Finally, BNP Paribas Financial Markets lifted its holdings in Atlanticus by 334.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,735 shares of the credit services provider’s stock worth $95,000 after buying an additional 1,336 shares in the last quarter. Hedge funds and other 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.