Atlanticus (NASDAQ:ATLC) Downgraded to Buy at StockNews.com

StockNews.com cut shares of Atlanticus (NASDAQ:ATLC) from a strong-buy rating to a buy rating in a report published on Wednesday.

Separately, JMP Securities reissued a market outperform rating and issued a $39.00 price objective on shares of Atlanticus in a research report on Wednesday, April 17th.

Atlanticus Trading Up 0.8 %

Shares of ATLC opened at $27.03 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.38 and a quick ratio of 1.38. Atlanticus has a 12 month low of $23.20 and a 12 month high of $43.70. The stock has a market cap of $400.04 million, a PE ratio of 6.34 and a beta of 1.87. The stock’s 50-day moving average is $28.97 and its two-hundred day moving average is $31.65.

Atlanticus (NASDAQ:ATLC) last posted its earnings results on Monday, March 4th. The credit services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.14. The business had revenue of $309.09 million for the quarter, compared to analysts’ expectations of $304.68 million. Atlanticus had a net margin of 8.90% and a return on equity of 27.93%. Equities analysts forecast that Atlanticus will post 4.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Atlanticus news, Director Deal W. Hudson sold 2,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $30.50, for a total transaction of $61,000.00. Following the transaction, the director now directly owns 69,855 shares in the company, valued at approximately $2,130,577.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Deal W. Hudson sold 2,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $30.50, for a total transaction of $61,000.00. Following the sale, the director now owns 69,855 shares in the company, valued at $2,130,577.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Frank J. Hanna III bought 263,432 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was bought at an average cost of $28.21 per share, for a total transaction of $7,431,416.72. Following the completion of the transaction, the insider now directly owns 263,432 shares of the company’s stock, valued at $7,431,416.72. The disclosure for this purchase can be found here. Insiders own 52.40% of the company’s stock.

Institutional Investors Weigh In On Atlanticus

Institutional investors have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale bought a new stake in shares of Atlanticus during the 3rd quarter worth about $30,000. Barclays PLC raised its holdings in Atlanticus by 23.8% during the third quarter. Barclays PLC now owns 2,263 shares of the credit services provider’s stock worth $68,000 after purchasing an additional 435 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Atlanticus by 65.5% in the first quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock worth $69,000 after purchasing an additional 920 shares during the period. New York State Common Retirement Fund boosted its stake 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 valued at $190,000 after purchasing an additional 2,404 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of Atlanticus in the 3rd quarter worth $282,000. Institutional investors and hedge funds 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.