Atlanticus (NASDAQ:ATLC) Price Target Raised to $119.00

Atlanticus (NASDAQ:ATLC) had its target price boosted by B. Riley Financial from $111.00 to $119.00 in a report issued on Thursday,Benzinga reports. They currently have a buy rating on the credit services provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Zacks Research cut shares of Atlanticus from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. HSBC set a $144.00 price objective on shares of Atlanticus in a report on Monday, July 13th. BTIG Research upped their price objective on Atlanticus from $105.00 to $179.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Jefferies Financial Group increased their target price on Atlanticus from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Finally, Citigroup reissued an “outperform” rating on shares of Atlanticus in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Atlanticus presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.00.

Atlanticus Stock Performance

Shares of ATLC stock opened at $93.13 on Thursday. Atlanticus has a one year low of $47.50 and a one year high of $114.34. The company’s 50-day moving average is $98.76 and its 200 day moving average is $80.85. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 12.11 and a beta of 2.02. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.26 and a current ratio of 1.26.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings data on Thursday, August 6th. The credit services provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.08. The business had revenue of $744.31 million during the quarter, compared to analyst estimates of $716.35 million. Atlanticus had a net margin of 5.80% and a return on equity of 25.17%. Sell-side analysts expect that Atlanticus will post 9.73 EPS for the current fiscal year.

Insider Activity at Atlanticus

In other news, CFO William McCamey sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were 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 financial officer directly owned 127,410 shares of the company’s stock, valued at $13,124,504.10. The trade was a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mitchell Saunders sold 10,000 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $102.20, for a total transaction of $1,022,000.00. Following the transaction, the chief accounting officer owned 46,273 shares in the company, valued at approximately $4,729,100.60. This trade represents a 17.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 75,000 shares of company stock worth $7,868,627. 51.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Atlanticus

Large investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. bought a new position in shares of Atlanticus during the 2nd quarter valued at $33,000. Advisory Services Network LLC purchased a new position in shares of Atlanticus in the 3rd quarter worth $47,000. Jones Financial Companies Lllp purchased a new position in shares of Atlanticus in the 1st quarter worth $71,000. Inspire Investing LLC bought a new stake in shares of Atlanticus in the first quarter worth $87,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Atlanticus by 334.8% in the second quarter. BNP Paribas Financial Markets now owns 1,735 shares of the credit services provider’s stock worth $95,000 after acquiring an additional 1,336 shares during the period. Institutional investors own 14.15% of the company’s stock.

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.