Atlanticus (NASDAQ:ATLC) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Wall Street Zen upgraded shares of Atlanticus (NASDAQ:ATLC) from a buy rating to a strong-buy rating in a research note issued to investors on Sunday.

A number of other analysts have also issued reports on the stock. B. Riley Financial reiterated a “buy” rating on shares of Atlanticus in a research note on Thursday, May 14th. Zacks Research lowered shares of Atlanticus from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 13th. Citigroup restated an “outperform” rating on shares of Atlanticus in a report on Thursday, July 16th. Jefferies Financial Group upped their target price on shares of Atlanticus from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Finally, Capital One Financial set a $144.00 target price on shares of Atlanticus in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.00.

Atlanticus Stock Performance

Shares of NASDAQ ATLC opened at $102.58 on Friday. Atlanticus has a twelve month low of $47.50 and a twelve month high of $114.34. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.99. The stock has a fifty day simple moving average of $99.60 and a 200-day simple moving average of $76.73. The stock has a market capitalization of $1.56 billion, a PE ratio of 13.34 and a beta of 2.11.

Atlanticus (NASDAQ:ATLC) last posted its earnings results on Thursday, August 6th. The credit services provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.08. Atlanticus had a return on equity of 25.17% and a net margin of 5.80%.The firm had revenue of $744.31 million for the quarter, compared to analyst estimates of $716.35 million. On average, equities analysts forecast that Atlanticus will post 9.48 earnings per share for the current year.

Insider Activity

In other Atlanticus 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 owned 127,410 shares in the company, valued at $13,124,504.10. The trade was a 7.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 completion of the sale, the chief accounting officer directly owned 46,273 shares in the company, valued at approximately $4,729,100.60. This represents a 17.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 75,000 shares of company stock valued at $7,868,627 over the last three months. 51.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atlanticus

Institutional investors have recently modified their holdings of the company. Financial Management Professionals Inc. purchased a new stake in Atlanticus during the 2nd quarter worth about $33,000. Advisory Services Network LLC purchased a new position in shares of Atlanticus in the 3rd quarter valued at about $47,000. Jones Financial Companies Lllp purchased a new position in shares of Atlanticus in the 1st quarter valued at about $71,000. Inspire Investing LLC acquired a new stake in shares of Atlanticus during the 1st quarter worth about $87,000. Finally, BNP Paribas Financial Markets raised its position in shares of Atlanticus by 334.8% during the 2nd 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 in the last quarter. 14.15% of the stock is owned by hedge funds and other institutional investors.

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.