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

Atlanticus Holdings Corporation (NASDAQ:ATLC) shares 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 were traded during trading, a decline of 84% from the average daily volume of 68,488 shares. The stock had previously closed at $48.93.

Other equities analysts also recently issued reports about the stock. B. Riley Financial started coverage on shares of Atlanticus in a research note on Wednesday, January 7th. They issued a “buy” rating and a $90.00 price target on the stock. Wall Street Zen raised shares of Atlanticus from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Atlanticus in a report on Monday, December 29th. Finally, Citigroup restated an “outperform” rating on shares of Atlanticus in a report on Thursday, December 11th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.25.

Insider Buying and Selling at Atlanticus

In other news, Director Deal W. Hudson sold 1,675 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $59.72, for a total transaction of $100,031.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is available at this hyperlink. 51.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Atlanticus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its position in Atlanticus by 468.2% in the second quarter. Russell Investments Group Ltd. now owns 69,298 shares of the credit services provider’s stock valued at $3,794,000 after purchasing an additional 57,103 shares during the period. American Century Companies Inc. grew its holdings in shares of Atlanticus by 25.8% during the 2nd quarter. American Century Companies Inc. now owns 120,071 shares of the credit services provider’s stock worth $6,574,000 after purchasing an additional 24,595 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Atlanticus during the 2nd quarter worth about $451,000. Sierra Summit Advisors LLC acquired a new stake in shares of Atlanticus during the 2nd quarter worth about $662,000. Finally, Panagora Asset Management Inc. purchased a new stake in Atlanticus in the 2nd quarter valued at about $667,000. Institutional investors and hedge funds own 14.15% of the company’s stock.

Atlanticus Price Performance

The stock’s 50-day simple moving average is $55.99 and its 200 day simple moving average is $59.54. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.16. The company has a market cap of $782.40 million, a price-to-earnings ratio of 8.79 and a beta of 1.95.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings results on Thursday, March 12th. The credit services provider reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $691.81 million. Atlanticus had a net margin of 6.21% and a return on equity of 22.39%. On average, equities research analysts anticipate that Atlanticus Holdings Corporation will post 4.49 EPS for the current fiscal year.

About Atlanticus

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.