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

Atlanticus (NASDAQ:ATLC) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.

Separately, JMP Securities reiterated a “market outperform” rating and set a $39.00 target price on shares of Atlanticus in a research report on Wednesday, April 17th.

Atlanticus Stock Performance

ATLC stock traded up $0.81 during trading on Tuesday, hitting $24.26. The company had a trading volume of 15,086 shares, compared to its average volume of 12,461. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average price of $29.97 and a 200-day moving average price of $31.82. Atlanticus has a 1-year low of $23.20 and a 1-year high of $43.70. The firm has a market cap of $359.05 million, a PE ratio of 5.74 and a beta of 1.84.

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

Insiders Place Their Bets

In related news, Director Deal W. Hudson sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $30.50, for a total value of $61,000.00. Following the sale, the director now owns 69,855 shares in the company, valued at approximately $2,130,577.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Deal W. Hudson sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $30.50, for a total value of $61,000.00. Following the sale, the director now owns 69,855 shares in the company, valued at approximately $2,130,577.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Frank J. Hanna III purchased 263,432 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was purchased at an average price of $28.21 per share, for a total transaction of $7,431,416.72. Following the acquisition, 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. 52.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Atlanticus

A number of institutional investors and hedge funds have recently modified their holdings of the company. DekaBank Deutsche Girozentrale purchased a new stake in Atlanticus in the 3rd quarter valued at approximately $30,000. Barclays PLC lifted its stake in Atlanticus by 23.8% in the 3rd quarter. Barclays PLC now owns 2,263 shares of the credit services provider’s stock valued at $68,000 after buying an additional 435 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Atlanticus by 62.4% in 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 buying an additional 2,404 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in Atlanticus in the 3rd quarter valued at approximately $282,000. Finally, Simplicity Solutions LLC lifted its stake in Atlanticus by 10.5% in the 3rd quarter. Simplicity Solutions LLC now owns 10,760 shares of the credit services provider’s stock valued at $326,000 after buying an additional 1,024 shares in the last quarter. Institutional investors and hedge funds 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.