Atlanticus’ (ATLC) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Atlanticus (NASDAQ:ATLC) in a report published on Wednesday morning, Benzinga reports. The firm currently has a $39.00 price objective on the credit services provider’s stock.

Separately, StockNews.com cut Atlanticus from a strong-buy rating to a buy rating in a report on Wednesday, April 10th.

Atlanticus Stock Performance

ATLC opened at $24.34 on Wednesday. The stock has a market cap of $360.23 million, a P/E ratio of 5.75 and a beta of 1.84. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.38 and a quick ratio of 1.38. The stock’s 50 day simple moving average is $30.28 and its 200 day simple moving average is $31.86. Atlanticus has a 1-year low of $23.78 and a 1-year high of $43.70.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings results on Monday, March 4th. The credit services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.14. The business had revenue of $309.09 million for the quarter, compared to analysts’ expectations of $304.68 million. Atlanticus had a return on equity of 27.93% and a net margin of 8.90%. As a group, equities analysts anticipate that Atlanticus will post 4.85 EPS for the current fiscal year.

Insider Buying and Selling at Atlanticus

In other Atlanticus news, Director Deal W. Hudson sold 2,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $30.50, for a total transaction of $61,000.00. Following the sale, the director now owns 69,855 shares in the company, valued at approximately $2,130,577.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Deal W. Hudson sold 2,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $30.50, for a total transaction of $61,000.00. Following the sale, the director now owns 69,855 shares in the company, valued at $2,130,577.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Frank J. Hanna III acquired 263,432 shares of the firm’s stock in a transaction dated Tuesday, April 9th. The shares were acquired at an average price of $28.21 per share, for a total transaction of $7,431,416.72. Following the acquisition, the insider now directly owns 263,432 shares of the company’s stock, valued at $7,431,416.72. The disclosure for this purchase can be found here. 52.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Atlanticus

Several hedge funds have recently made changes to their positions in the business. Denali Advisors LLC boosted its holdings in shares of Atlanticus by 5.2% during the first quarter. Denali Advisors LLC now owns 26,040 shares of the credit services provider’s stock worth $771,000 after purchasing an additional 1,285 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Atlanticus by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 256,236 shares of the credit services provider’s stock worth $9,909,000 after purchasing an additional 1,295 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in shares of Atlanticus in the 4th quarter worth $204,000. GSA Capital Partners LLP raised its position in shares of Atlanticus by 51.2% in the 4th quarter. GSA Capital Partners LLP now owns 18,500 shares of the credit services provider’s stock worth $715,000 after buying an additional 6,267 shares during the period. Finally, Barclays PLC raised its position in shares of Atlanticus by 254.9% in the 4th quarter. Barclays PLC now owns 8,032 shares of the credit services provider’s stock worth $310,000 after buying an additional 5,769 shares during the period. Institutional investors and hedge funds own 14.15% of the company’s stock.

About Atlanticus

Atlanticus Holdings Corporation, a financial technology company, provides credit and related financial services and products to customers the United States. It operates in two segments, Credit as a Service, and Auto Finance. The Credit as a Service segment originates a range of consumer loan products, such as private label and general purpose credit cards originated by lenders through various channels, including retail and healthcare, direct mail solicitation, digital marketing, and partnerships with third parties; and offers credit to their customers for the purchase of various goods and services, including consumer electronics, furniture, elective medical procedures, healthcare, and home-improvements by partnering with retailers, healthcare providers, and other service providers.