Atlanticus (NASDAQ:ATLC) Posts Earnings Results

Atlanticus (NASDAQ:ATLC) posted its earnings results on Monday. The credit services provider reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.14, Zacks reports. The company had revenue of $495.29 million during the quarter, compared to analysts’ expectations of $503.64 million. Atlanticus had a net margin of 8.51% and a return on equity of 24.20%.

Atlanticus Trading Up 1.6%

NASDAQ ATLC traded up $0.80 during trading on Tuesday, reaching $51.80. 15,687 shares of the stock traded hands, compared to its average volume of 61,458. The stock’s 50-day moving average price is $61.16 and its 200 day moving average price is $56.82. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.55. The firm has a market cap of $783.48 million, a price-to-earnings ratio of 9.10 and a beta of 2.14. Atlanticus has a fifty-two week low of $41.37 and a fifty-two week high of $78.91.

Atlanticus Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 1st were paid a dividend of $0.4766 per share. This represents a $1.91 annualized dividend and a yield of 3.7%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. B. Riley increased their target price on Atlanticus from $70.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 15th. BTIG Research reaffirmed a “buy” rating and set a $105.00 price objective on shares of Atlanticus in a report on Monday, October 27th. Wall Street Zen downgraded Atlanticus from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Atlanticus in a research note on Wednesday, October 8th. Finally, JMP Securities lifted their price objective on Atlanticus from $78.00 to $95.00 and gave the stock a “market outperform” rating in a research report on Thursday, September 18th. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.80.

Insider Transactions at Atlanticus

In other Atlanticus news, Director Deal W. Hudson sold 2,000 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $62.39, for a total value of $124,780.00. Following the completion of the sale, the director directly owned 61,092 shares in the company, valued at $3,811,529.88. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 50.40% of the company’s stock.

Institutional Investors Weigh In On Atlanticus

Several large investors have recently made changes to their positions in ATLC. Jones Financial Companies Lllp bought a new stake in Atlanticus in the 1st quarter valued at $71,000. BNP Paribas Financial Markets grew its holdings in shares of Atlanticus by 334.8% during the second quarter. BNP Paribas Financial Markets now owns 1,735 shares of the credit services provider’s stock worth $95,000 after buying an additional 1,336 shares in the last quarter. Legal & General Group Plc raised its position in Atlanticus by 55.5% in the 2nd quarter. Legal & General Group Plc now owns 6,192 shares of the credit services provider’s stock valued at $339,000 after buying an additional 2,211 shares during the last quarter. Invesco Ltd. raised its position in Atlanticus by 65.4% in the 2nd quarter. Invesco Ltd. now owns 6,699 shares of the credit services provider’s stock valued at $367,000 after buying an additional 2,650 shares during the last quarter. Finally, Jump Financial LLC lifted its stake in Atlanticus by 6.1% in the 2nd quarter. Jump Financial LLC now owns 9,344 shares of the credit services provider’s stock valued at $512,000 after acquiring an additional 537 shares in the last quarter. Institutional investors own 14.15% of the company’s stock.

About Atlanticus

Atlanticus Holdings Corporation, a financial technology company, provides credit and related financial services and products to customers the United States. It operates in two segments, Credit as a Service, and Auto Finance. The Credit as a Service segment originates a range of consumer loan products, such as private label and general purpose credit cards originated by lenders through various channels, including retail and healthcare, direct mail solicitation, digital marketing, and partnerships with third parties; and offers credit to their customers for the purchase of various goods and services, including consumer electronics, furniture, elective medical procedures, healthcare, and home-improvements by partnering with retailers, healthcare providers, and other service providers.