B. Riley Increases Atlanticus (NASDAQ:ATLC) Price Target to $70.00

Atlanticus (NASDAQ:ATLC) had its price objective lifted by analysts at B. Riley from $50.00 to $70.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the credit services provider’s stock. B. Riley’s price objective indicates a potential upside of 30.84% from the company’s previous close.

Several other analysts also recently commented on ATLC. JMP Securities increased their price objective on Atlanticus from $45.00 to $54.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. BTIG Research raised their price objective on Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. StockNews.com raised shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Finally, Stephens started coverage on shares of Atlanticus in a report on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 target price for the company. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Atlanticus currently has an average rating of “Buy” and a consensus target price of $53.00.

Atlanticus Stock Up 3.9 %

Shares of NASDAQ ATLC traded up $2.03 during trading on Thursday, hitting $53.50. 9,274 shares of the company traded hands, compared to its average volume of 17,598. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. The business’s fifty day moving average is $37.88 and its 200 day moving average is $32.86. The firm has a market capitalization of $788.59 million, a price-to-earnings ratio of 12.02 and a beta of 1.92. Atlanticus has a fifty-two week low of $23.09 and a fifty-two week high of $53.50.

Atlanticus (NASDAQ:ATLC) last issued its 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. The company had revenue of $351.22 million for the quarter, compared to analysts’ expectations of $326.64 million. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. Equities research analysts predict that Atlanticus will post 4.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Denise M. Harrod sold 1,141 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $49.00, for a total value of $55,909.00. Following the sale, the director now owns 5,659 shares of the company’s stock, valued at $277,291. The trade was a 16.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Deal W. Hudson sold 2,500 shares of the stock in a transaction on Monday, September 16th. The stock was 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 in the company, valued at approximately $2,036,339.25. This represents a 3.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,200 shares of company stock valued at $191,175. Company insiders own 51.80% of the company’s stock.

Hedge Funds Weigh In On Atlanticus

Several hedge funds have recently bought and sold shares of ATLC. BNP Paribas Financial Markets boosted its stake in Atlanticus by 65.5% during the first quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock valued at $69,000 after buying an additional 920 shares during the period. FMR LLC raised its stake in Atlanticus by 393.1% in the third quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock valued at $80,000 after purchasing an additional 1,820 shares in the last quarter. MetLife Investment Management LLC lifted its position in Atlanticus by 158.8% during 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 last quarter. Rhumbline Advisers grew its stake in Atlanticus by 9.3% in the 2nd quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock worth $229,000 after buying an additional 690 shares in the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Atlanticus by 9.3% during the 2nd quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock valued at $234,000 after buying an additional 704 shares in the last quarter. Hedge funds and other institutional investors own 14.15% of the company’s stock.

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.