Atlanticus (NASDAQ:ATLC) Upgraded at StockNews.com

StockNews.com upgraded shares of Atlanticus (NASDAQ:ATLCFree Report) from a buy rating to a strong-buy rating in a research report released on Monday.

A number of other brokerages have also weighed in on ATLC. JMP Securities restated a market outperform rating and issued a $39.00 target price on shares of Atlanticus in a research note on Tuesday, May 28th. Keefe, Bruyette & Woods started coverage on Atlanticus in a research note on Wednesday, May 22nd. They issued a market perform rating and a $33.00 target price on the stock. Finally, BTIG Research started coverage on Atlanticus in a research note on Friday, June 7th. They issued a buy rating and a $45.00 target price on the stock. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $39.25.

Check Out Our Latest Stock Report on ATLC

Atlanticus Stock Performance

Shares of ATLC opened at $27.29 on Monday. The stock’s 50-day simple moving average is $26.33 and its 200 day simple moving average is $30.77. The stock has a market capitalization of $403.62 million, a price-to-earnings ratio of 6.50 and a beta of 1.88. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.42 and a current ratio of 1.42. Atlanticus has a 52-week low of $23.09 and a 52-week high of $43.70.

Atlanticus (NASDAQ:ATLCGet Free Report) last issued its quarterly earnings data on Friday, May 10th. The credit services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.11. The business had revenue of $290.17 million for the quarter, compared to analysts’ expectations of $309.78 million. Atlanticus had a return on equity of 26.67% and a net margin of 8.67%. Research analysts forecast that Atlanticus will post 4.52 EPS for the current fiscal year.

Insider Activity

In other news, Director Deal W. Hudson sold 1,200 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $26.05, for a total transaction of $31,260.00. Following the transaction, the director now directly owns 68,655 shares in the company, valued at approximately $1,788,462.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Deal W. Hudson sold 1,200 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $26.05, for a total transaction of $31,260.00. Following the transaction, the director now directly owns 68,655 shares in the company, valued at approximately $1,788,462.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Frank J. Hanna III purchased 263,432 shares of Atlanticus stock in a transaction that occurred on Tuesday, April 9th. The shares were bought at an average price of $28.21 per share, for a total transaction of $7,431,416.72. Following the completion of the transaction, the insider now owns 263,432 shares in the company, valued at $7,431,416.72. The disclosure for this purchase can be found here. Corporate insiders own 51.80% of the company’s stock.

Hedge Funds Weigh In On Atlanticus

Institutional investors and hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale bought a new position in Atlanticus during the 3rd quarter worth approximately $30,000. Barclays PLC grew its position in Atlanticus by 23.8% during the 3rd quarter. Barclays PLC now owns 2,263 shares of the credit services provider’s stock worth $68,000 after acquiring an additional 435 shares during the last quarter. BNP Paribas Financial Markets grew its position in Atlanticus by 65.5% during the 1st quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock worth $69,000 after acquiring an additional 920 shares during the last quarter. New York State Common Retirement Fund grew its position in Atlanticus by 62.4% during the 3rd quarter. New York State Common Retirement Fund now owns 6,254 shares of the credit services provider’s stock worth $190,000 after acquiring an additional 2,404 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new position in Atlanticus during the 3rd quarter worth approximately $282,000. 14.15% of the stock is currently owned by institutional investors.

About Atlanticus

(Get Free Report)

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.

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