Atlanticus (NASDAQ:ATLC) Sees Large Volume Increase – What’s Next?

Shares of Atlanticus Holdings Corporation (NASDAQ:ATLC) saw an uptick in trading volume on Tuesday . Approximately 147,037 shares changed hands during trading, an increase of 79% from the previous session’s volume of 82,289 shares.The stock last traded at $102.2950 and had previously closed at $99.52.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ATLC. William Blair set a $100.00 target price on shares of Atlanticus in a research note on Wednesday, June 10th. Wall Street Zen upgraded shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Zacks Research upgraded shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Weiss Ratings raised shares of Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Finally, Citizens Jmp raised their price objective on shares of Atlanticus from $100.00 to $102.00 and gave the stock a “market outperform” rating in a research note on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $101.25.

Atlanticus Stock Performance

The firm has a market cap of $1.56 billion, a PE ratio of 15.35 and a beta of 2.14. The business has a 50 day simple moving average of $81.66 and a two-hundred day simple moving average of $66.58. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.08.

Atlanticus (NASDAQ:ATLC) last posted 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. The firm had revenue of $679.59 million for the quarter, compared to analysts’ expectations of $749.36 million. Atlanticus had a net margin of 5.86% and a return on equity of 23.43%. As a group, equities 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

A number of institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC bought a new position in Atlanticus in the third quarter worth approximately $47,000. Jones Financial Companies Lllp bought a new stake in Atlanticus during the 1st quarter valued at $71,000. Inspire Investing LLC bought a new stake in Atlanticus during the 1st quarter valued at $87,000. BNP Paribas Financial Markets lifted its holdings in shares of Atlanticus by 334.8% in the 2nd 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 during the period. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Atlanticus in the 4th quarter worth $105,000. 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.