StockNews.com Lowers Atlanticus (NASDAQ:ATLC) to Buy

StockNews.com lowered shares of Atlanticus (NASDAQ:ATLC) from a strong-buy rating to a buy rating in a research report report published on Wednesday.

ATLC has been the topic of a number of other reports. Keefe, Bruyette & Woods initiated coverage on Atlanticus in a research note on Wednesday. They set a market perform rating and a $33.00 price objective on the stock. JMP Securities reiterated a market outperform rating and issued a $39.00 price objective on shares of Atlanticus in a report on Monday, May 13th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $40.50.

Atlanticus Stock Up 2.0 %

ATLC opened at $25.48 on Wednesday. Atlanticus has a fifty-two week low of $23.09 and a fifty-two week high of $43.70. The company’s 50-day moving average is $27.32 and its 200 day moving average is $31.32. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market capitalization of $376.90 million, a P/E ratio of 6.01 and a beta of 1.87.

Atlanticus (NASDAQ:ATLC) last posted its quarterly earnings results on Monday, March 4th. The credit services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.14. Atlanticus had a net margin of 8.67% and a return on equity of 26.67%. The company had revenue of $309.09 million during the quarter, compared to analyst estimates of $304.68 million. Research analysts expect that Atlanticus will post 4.52 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Frank J. Hanna III bought 263,432 shares of the company’s stock in a transaction dated Tuesday, April 9th. The stock was purchased at an average cost of $28.21 per share, with a total value of $7,431,416.72. Following the transaction, the insider now owns 263,432 shares in the company, valued at approximately $7,431,416.72. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Atlanticus news, Director Deal W. Hudson sold 2,000 shares of Atlanticus stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $30.50, for a total value of $61,000.00. Following the completion of the transaction, the director now directly owns 69,855 shares of the company’s stock, valued at $2,130,577.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Frank J. Hanna III acquired 263,432 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was acquired at an average cost of $28.21 per share, for a total transaction of $7,431,416.72. Following the completion of the transaction, the insider now directly owns 263,432 shares in the company, valued at approximately $7,431,416.72. The disclosure for this purchase can be found here. 51.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC bought a new position in shares of Atlanticus in the third quarter worth approximately $282,000. Dimensional Fund Advisors LP grew its stake in shares of Atlanticus by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 602,272 shares of the credit services provider’s stock worth $23,290,000 after buying an additional 7,234 shares in the last quarter. Vanguard Group Inc. raised its holdings in Atlanticus by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider’s stock valued at $7,655,000 after buying an additional 2,453 shares during the period. New York State Common Retirement Fund raised its position in Atlanticus by 62.4% in the 3rd quarter. New York State Common Retirement Fund now owns 6,254 shares of the credit services provider’s stock worth $190,000 after purchasing an additional 2,404 shares during the period. Finally, Swiss National Bank grew its position in Atlanticus by 16.5% in the 3rd quarter. Swiss National Bank now owns 12,700 shares of the credit services provider’s stock valued at $385,000 after acquiring an additional 1,800 shares during the last quarter. 14.15% of the stock is owned by hedge funds and other institutional investors.

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.