Atlanticus (NASDAQ:ATLC) Price Target Raised to $54.00 at BTIG Research

Atlanticus (NASDAQ:ATLC) had its price objective increased by BTIG Research from $45.00 to $54.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a buy rating on the credit services provider’s stock.

Several other brokerages have also weighed in on ATLC. JMP Securities upped their target price on shares of Atlanticus from $39.00 to $45.00 and gave the stock a “market outperform” rating in a research report on Monday, October 14th. StockNews.com upgraded shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Atlanticus currently has a consensus rating of “Buy” and an average price target of $48.75.

Atlanticus Trading Down 1.3 %

Shares of Atlanticus stock opened at $48.58 on Tuesday. Atlanticus has a 52-week low of $23.09 and a 52-week high of $49.53. The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The company’s 50-day simple moving average is $36.69 and its 200-day simple moving average is $32.32. The firm has a market cap of $716.07 million, a price-to-earnings ratio of 10.92 and a beta of 1.92.

Atlanticus (NASDAQ:ATLC) last issued its quarterly earnings results on Thursday, November 7th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.04. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. The business had revenue of $351.22 million for the quarter, compared to analyst estimates of $326.64 million. As a group, equities research analysts anticipate that Atlanticus will post 4.51 earnings per share for the current year.

Insider Buying and Selling at Atlanticus

In other Atlanticus news, Director Deal W. Hudson sold 2,500 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $31.35, for a total value of $78,375.00. Following the sale, the director now owns 64,955 shares of the company’s stock, valued at $2,036,339.25. This represents a 3.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 51.80% of the company’s stock.

Institutional Trading of Atlanticus

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of Atlanticus by 393.1% during the 3rd quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock worth $80,000 after acquiring an additional 1,820 shares during the period. BNP Paribas Financial Markets grew its holdings 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 valued at $69,000 after purchasing an additional 920 shares during the period. MetLife Investment Management LLC grew its holdings in Atlanticus by 158.8% in the third quarter. MetLife Investment Management LLC now owns 2,971 shares of the credit services provider’s stock valued at $104,000 after purchasing an additional 1,823 shares during the period. Rhumbline Advisers grew its holdings in Atlanticus by 9.3% in the second quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock valued at $229,000 after purchasing an additional 690 shares during the period. Finally, Barclays PLC grew its holdings in Atlanticus by 285.6% in the third quarter. Barclays PLC now owns 8,218 shares of the credit services provider’s stock valued at $289,000 after purchasing an additional 6,087 shares during the period. 14.15% of the stock is owned by hedge funds and other institutional investors.

Atlanticus Company Profile

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.