Atlanticus (NASDAQ:ATLC) Reaches New 52-Week High – Time to Buy?

Atlanticus Holdings Corporation (NASDAQ:ATLC) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $104.50 and last traded at $104.3850, with a volume of 140551 shares trading hands. The stock had previously closed at $101.36.

Analyst Ratings Changes

A number of research firms recently commented on ATLC. B. Riley Financial reiterated a “buy” rating on shares of Atlanticus in a report on Thursday, May 14th. Texas Capital upgraded Atlanticus to a “hold” rating in a research note on Wednesday, June 10th. William Blair set a $100.00 price objective on Atlanticus in a research report on Wednesday, June 10th. Weiss Ratings upgraded Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Finally, Citizens Jmp boosted their target price on Atlanticus from $100.00 to $102.00 and gave the stock a “market outperform” rating in a report on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Atlanticus presently has a consensus rating of “Moderate Buy” and an average target price of $101.25.

Atlanticus Stock Up 4.6%

The stock’s fifty day simple moving average is $82.42 and its 200-day simple moving average is $66.88. The stock has a market cap of $1.60 billion, a P/E ratio of 15.59 and a beta of 2.14. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.24 and a current ratio of 1.24.

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

Hedge Funds Weigh In On Atlanticus

Hedge funds and other institutional investors have recently made changes to their positions in the company. Range Financial Group LLC boosted its position in shares of Atlanticus by 5.8% during the 1st quarter. Range Financial Group LLC now owns 4,526 shares of the credit services provider’s stock worth $237,000 after acquiring an additional 247 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Atlanticus by 5.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,194 shares of the credit services provider’s stock valued at $616,000 after acquiring an additional 478 shares during the last quarter. Jump Financial LLC raised its position in Atlanticus by 6.1% during the second quarter. Jump Financial LLC now owns 9,344 shares of the credit services provider’s stock valued at $512,000 after purchasing an additional 537 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Atlanticus by 9.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 7,783 shares of the credit services provider’s stock valued at $521,000 after purchasing an additional 681 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in Atlanticus during the third quarter worth $47,000. 14.15% of the stock is currently owned by institutional investors and hedge funds.

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.