StockNews.com Upgrades Atlanticus (NASDAQ:ATLC) to “Strong-Buy”

Atlanticus (NASDAQ:ATLC) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Monday.

Other equities analysts have also recently issued research reports about the company. BTIG Research started coverage on Atlanticus in a report on Friday, June 7th. They issued a “buy” rating and a $45.00 price target for the company. JMP Securities reaffirmed a “market outperform” rating and issued a $39.00 target price on shares of Atlanticus in a research report on Tuesday, May 28th. Finally, Keefe, Bruyette & Woods started coverage on Atlanticus in a research report on Wednesday, May 22nd. They issued a “market perform” rating and a $33.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $39.25.

Atlanticus Trading Up 3.9 %

ATLC traded up $1.03 during midday trading on Monday, hitting $27.53. The company’s stock had a trading volume of 23,399 shares, compared to its average volume of 15,220. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.48. The firm has a market cap of $407.17 million, a P/E ratio of 6.49 and a beta of 1.88. The firm has a 50-day moving average price of $26.36 and a two-hundred day moving average price of $30.84. Atlanticus has a 52-week low of $23.09 and a 52-week high of $43.70.

Atlanticus (NASDAQ:ATLC) last issued its earnings results 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. Atlanticus had a return on equity of 26.67% and a net margin of 8.67%. The business had revenue of $290.17 million during the quarter, compared to analysts’ expectations of $309.78 million. On average, research analysts anticipate that Atlanticus will post 4.52 earnings per share for the current year.

Insider Activity at Atlanticus

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

Institutional Investors Weigh In On Atlanticus

Several large investors have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC bought a new position in shares of Atlanticus in the third quarter worth $282,000. Dimensional Fund Advisors LP grew its stake in shares of Atlanticus by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 602,272 shares of the credit services provider’s stock worth $23,290,000 after purchasing an additional 7,234 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Atlanticus by 1.0% in the first quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider’s stock worth $7,655,000 after purchasing an additional 2,453 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of Atlanticus by 62.4% in the third quarter. New York State Common Retirement Fund now owns 6,254 shares of the credit services provider’s stock worth $190,000 after purchasing an additional 2,404 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Atlanticus by 16.5% in the third quarter. Swiss National Bank now owns 12,700 shares of the credit services provider’s stock worth $385,000 after purchasing an additional 1,800 shares in the last quarter. 14.15% of the stock is owned by institutional investors and hedge funds.

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.