Wall Street Zen Upgrades Atlanticus (NASDAQ:ATLC) to “Strong-Buy”

Atlanticus (NASDAQ:ATLC) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Sunday, Wall Street Zen reports.

A number of other brokerages also recently issued reports on ATLC. Citigroup restated an “outperform” rating on shares of Atlanticus in a report on Thursday, July 16th. Zacks Research cut Atlanticus from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Jefferies Financial Group lifted their price objective on Atlanticus from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. B. Riley Financial reiterated a “buy” rating on shares of Atlanticus in a research report on Thursday, September 3rd. Finally, Texas Capital raised shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $129.00.

Atlanticus Trading Up 0.9%

Shares of ATLC opened at $94.60 on Friday. The stock has a market capitalization of $1.44 billion, a P/E ratio of 12.30 and a beta of 1.98. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.99. The firm has a fifty day simple moving average of $94.68 and a two-hundred day simple moving average of $88.06. Atlanticus has a twelve month low of $47.50 and a twelve month high of $114.34.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings data on Thursday, August 6th. The credit services provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.08. The firm had revenue of $744.32 million for the quarter, compared to analysts’ expectations of $716.35 million. Atlanticus had a net margin of 5.80% and a return on equity of 25.17%. On average, research analysts anticipate that Atlanticus will post 9.73 EPS for the current year.

Institutional Investors Weigh In On Atlanticus

Several hedge funds have recently bought and sold shares of the business. Financial Management Professionals Inc. purchased a new position in shares of Atlanticus in the 2nd quarter worth about $33,000. Inspire Investing LLC bought a new position in Atlanticus in the 1st quarter worth about $87,000. Walleye Capital LLC purchased a new stake in Atlanticus during the 2nd quarter valued at about $208,000. Jupiter Topco LLC purchased a new stake in Atlanticus during the 2nd quarter valued at about $255,000. Finally, Hsbc Holdings PLC bought a new stake in Atlanticus during the 2nd quarter valued at about $269,000. Institutional investors own 14.15% of the company’s stock.

About Atlanticus

Atlanticus Holdings Corporation (NASDAQ: ATLC) is a financial technology company that develops and provides credit and related financial products for consumers who may have limited access to traditional banking services. The company works with financial institution partners and merchants to deliver credit solutions through digital and point-of-sale channels.

Atlanticus’ offerings include revolving credit products, point-of-sale financing, personal loan solutions and automotive finance programs.