Atlanticus (NASDAQ:ATLC) Lowered to Hold Rating by Zacks Research

Atlanticus (NASDAQ:ATLC) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other brokerages also recently commented on ATLC. Weiss Ratings upgraded Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. HSBC set a $144.00 target price on Atlanticus in a research note on Monday. BTIG Research upped their price target on Atlanticus from $105.00 to $179.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Capital One Financial set a $144.00 price objective on shares of Atlanticus in a report on Monday. Finally, B. Riley Financial reiterated a “buy” rating on shares of Atlanticus in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $126.00.

Atlanticus Price Performance

Shares of NASDAQ:ATLC opened at $97.83 on Monday. The company has a market capitalization of $1.48 billion, a P/E ratio of 14.60 and a beta of 2.11. Atlanticus has a 1-year low of $45.74 and a 1-year high of $112.61. The firm’s 50 day simple moving average is $90.34 and its two-hundred day simple moving average is $70.58. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.24 and a quick ratio of 1.24.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings data on Thursday, May 7th. The credit services provider reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.54. Atlanticus had a net margin of 5.86% and a return on equity of 23.43%. The firm had revenue of $679.59 million during the quarter, compared to analysts’ expectations of $749.36 million. Research analysts expect that Atlanticus will post 9.48 EPS for the current fiscal year.

Insider Transactions at Atlanticus

In other Atlanticus news, CEO Jeffrey A. Howard sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $103.01, for a total transaction of $1,030,100.00. Following the completion of the transaction, the chief executive officer owned 663,265 shares in the company, valued at $68,322,927.65. This trade represents a 1.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Frank J. Hanna III sold 15,676 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider owned 259,392 shares of the company’s stock, valued at $27,044,209.92. This represents a 5.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 75,000 shares of company stock valued at $7,868,627. 51.00% of the stock is owned by company insiders.

Institutional Trading of Atlanticus

Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP raised its stake in Atlanticus by 54.7% during the fourth quarter. Wellington Management Group LLP now owns 704,282 shares of the credit services provider’s stock valued at $47,152,000 after purchasing an additional 249,100 shares in the last quarter. HB Wealth Management LLC grew its stake in shares of Atlanticus by 1,761.6% in the 1st quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider’s stock worth $6,233,000 after buying an additional 112,407 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in shares of Atlanticus by 133.5% in the 2nd quarter. Bridgeway Capital Management LLC now owns 93,234 shares of the credit services provider’s stock worth $5,105,000 after buying an additional 53,312 shares in the last quarter. UBS Group AG increased its holdings in shares of Atlanticus by 333.2% in the 4th quarter. UBS Group AG now owns 37,582 shares of the credit services provider’s stock worth $2,516,000 after buying an additional 28,907 shares during the last quarter. Finally, AQR Capital Management LLC bought a new stake in shares of Atlanticus in the 1st quarter worth about $1,083,000. 14.15% of the stock is owned by hedge funds and other institutional investors.

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.