JMP Securities Lowers Atlanticus (NASDAQ:ATLC) Price Target to $37.00

Atlanticus (NASDAQ:ATLC) had its target price lowered by research analysts at JMP Securities from $42.00 to $37.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “market outperform” rating on the credit services provider’s stock. JMP Securities’ price objective would indicate a potential upside of 12.84% from the stock’s current price.

Several other research firms also recently weighed in on ATLC. Janney Montgomery Scott started coverage on Atlanticus in a research note on Wednesday, September 13th. They issued a “neutral” rating and a $40.00 price objective for the company. StockNews.com raised Atlanticus from a “hold” rating to a “buy” rating in a research note on Friday, October 13th.

Atlanticus Trading Up 8.8 %

Shares of ATLC opened at $32.79 on Monday. Atlanticus has a twelve month low of $21.65 and a twelve month high of $43.70. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $478.34 million, a P/E ratio of 7.98 and a beta of 1.84. The firm’s 50-day moving average is $30.12 and its two-hundred day moving average is $34.32.

Institutional Investors Weigh In On Atlanticus

A number of large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new position in Atlanticus in the 2nd quarter valued at about $26,000. Captrust Financial Advisors purchased a new position in shares of Atlanticus during the first quarter valued at approximately $29,000. Barclays PLC grew its stake in Atlanticus by 184.4% in the 4th quarter. Barclays PLC now owns 1,132 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 734 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Atlanticus in the 3rd quarter valued at $30,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Atlanticus by 499.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,157 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 964 shares during the period. Institutional investors and hedge funds own 13.81% of the company’s stock.

About Atlanticus

Atlanticus Holdings Corporation 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 and service providers.