Atlanticus (NASDAQ:ATLC) Price Target Raised to $98.00

Atlanticus (NASDAQ:ATLC) had its price objective boosted by B. Riley Financial from $90.00 to $98.00 in a research note released on Monday,Benzinga reports. B. Riley Financial currently has a buy rating on the credit services provider’s stock.

Several other brokerages also recently weighed in on ATLC. Citizens Jmp upped their price objective on Atlanticus from $100.00 to $102.00 and gave the stock a “market outperform” rating in a research report on Tuesday, March 17th. Citigroup reiterated an “outperform” rating on shares of Atlanticus in a research report on Thursday, December 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Atlanticus in a report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Atlanticus from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $91.25.

Atlanticus Stock Down 3.3%

Shares of ATLC opened at $54.13 on Monday. Atlanticus has a one year low of $41.37 and a one year high of $78.91. The company has a market cap of $807.62 million, a P/E ratio of 9.08 and a beta of 1.95. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.23 and a quick ratio of 1.23. The firm has a 50 day simple moving average of $54.67 and a two-hundred day simple moving average of $58.97.

Atlanticus (NASDAQ:ATLC) last issued its 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. Atlanticus had a return on equity of 22.39% and a net margin of 6.21%.The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $691.81 million. Research analysts forecast that Atlanticus will post 4.49 EPS for the current fiscal year.

Insider Activity at Atlanticus

In related news, Director Deal W. Hudson sold 1,675 shares of the firm’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $59.72, for a total transaction of $100,031.00. Following the sale, the director owned 60,467 shares of the company’s stock, valued at $3,611,089.24. This trade represents a 2.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 50.40% of the company’s stock.

Hedge Funds Weigh In On Atlanticus

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in shares of Atlanticus by 468.2% during 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 in the last quarter. American Century Companies Inc. increased its stake in shares of Atlanticus by 25.8% in the second quarter. American Century Companies Inc. now owns 120,071 shares of the credit services provider’s stock valued at $6,574,000 after buying an additional 24,595 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Atlanticus in the second quarter valued at approximately $451,000. Sierra Summit Advisors LLC bought a new position in Atlanticus in the 2nd quarter valued at approximately $662,000. Finally, Panagora Asset Management Inc. bought a new position in Atlanticus in the 2nd quarter valued at approximately $667,000. 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.