Initiates Coverage on Atlanticus (NASDAQ:ATLC)

Equities research analysts at initiated coverage on shares of Atlanticus (NASDAQ:ATLCGet Rating) in a report issued on Thursday. The brokerage set a “buy” rating on the credit services provider’s stock.

Separately, JMP Securities lowered their target price on Atlanticus from $50.00 to $42.00 and set a “market outperform” rating for the company in a research note on Friday, January 13th.

Atlanticus Price Performance

Shares of ATLC stock opened at $21.92 on Thursday. The firm has a market cap of $316.52 million, a P/E ratio of 3.15 and a beta of 1.74. Atlanticus has a fifty-two week low of $21.80 and a fifty-two week high of $61.41. The business’s 50 day moving average price is $31.30 and its 200-day moving average price is $28.52. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.39 and a current ratio of 1.39.

Insider Activity

In other news, Director Deal W. Hudson sold 16,313 shares of the firm’s stock in a transaction that occurred on Friday, January 20th. The stock was sold at an average price of $30.65, for a total value of $499,993.45. Following the completion of the transaction, the director now owns 75,452 shares in the company, valued at approximately $2,312,603.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 53.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ATLC. Brandywine Global Investment Management LLC purchased a new position in Atlanticus during the second quarter valued at $670,000. Arrowstreet Capital Limited Partnership purchased a new position in Atlanticus during the first quarter valued at $715,000. Invesco Ltd. raised its stake in Atlanticus by 105.0% during the first quarter. Invesco Ltd. now owns 18,845 shares of the credit services provider’s stock valued at $976,000 after buying an additional 9,652 shares during the last quarter. Sawtooth Solutions LLC purchased a new position in Atlanticus during the third quarter valued at $227,000. Finally, HB Wealth Management LLC purchased a new position in Atlanticus during the fourth quarter valued at $219,000.

About Atlanticus

(Get Rating)

Atlanticus Holdings Corp. is a financial holding company, which engages in the provision of financial technology and related services. It operates through the Credit as a Service (CaaS) and Auto Finance segments. The CaaS segment includes private label credit and general purpose credit cards originated by lenders through multiple channels, including retail and healthcare, direct mail solicitation, digital marketing and partnerships with third parties.

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