Atlanticus (NASDAQ:ATLC) Stock Rating Reaffirmed by JMP Securities

JMP Securities restated their market outperform rating on shares of Atlanticus (NASDAQ:ATLC) in a research report report published on Wednesday morning, Benzinga reports. They currently have a $39.00 target price on the credit services provider’s stock.

Separately, StockNews.com cut Atlanticus from a strong-buy rating to a buy rating in a research report on Wednesday, April 10th.

Atlanticus Trading Down 2.1 %

Atlanticus stock opened at $25.55 on Wednesday. The stock has a 50-day moving average price of $30.60 and a 200 day moving average price of $31.95. 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 company has a market capitalization of $373.36 million, a price-to-earnings ratio of 6.04 and a beta of 1.84. Atlanticus has a 52 week low of $25.50 and a 52 week high of $43.70.

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

Insider Activity

In other Atlanticus news, major shareholder Frank J. Hanna III acquired 263,432 shares of the business’s stock in a transaction dated Tuesday, April 9th. The stock was acquired at an average cost of $28.21 per share, for a total transaction of $7,431,416.72. Following the completion of the transaction, the insider now directly owns 263,432 shares of the company’s stock, valued at $7,431,416.72. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Deal W. Hudson sold 2,000 shares of Atlanticus 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 directly owns 69,855 shares of the company’s stock, valued at $2,130,577.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Frank J. Hanna III purchased 263,432 shares of the stock in a transaction dated Tuesday, April 9th. The stock was purchased at an average cost of $28.21 per share, for a total transaction of $7,431,416.72. Following the completion of the purchase, the insider now directly owns 263,432 shares of the company’s stock, valued at $7,431,416.72. The disclosure for this purchase can be found here. Company insiders own 52.40% of the company’s stock.

Institutional Trading of Atlanticus

A number of institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in shares of Atlanticus by 3.7% in the second quarter. AQR Capital Management LLC now owns 7,486 shares of the credit services provider’s stock worth $263,000 after acquiring an additional 267 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Atlanticus by 6.3% in the second quarter. JPMorgan Chase & Co. now owns 6,115 shares of the credit services provider’s stock worth $257,000 after acquiring an additional 365 shares during the last quarter. Barclays PLC boosted its stake in shares of Atlanticus by 23.8% in the third quarter. Barclays PLC now owns 2,263 shares of the credit services provider’s stock worth $68,000 after acquiring an additional 435 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Atlanticus by 13.5% in the first quarter. Bank of America Corp DE now owns 3,677 shares of the credit services provider’s stock worth $100,000 after acquiring an additional 437 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Atlanticus by 3.5% during the fourth quarter. First Trust Advisors LP now owns 12,828 shares of the credit services provider’s stock worth $496,000 after buying an additional 439 shares during the last quarter. 14.15% of the stock is owned by institutional investors and hedge funds.

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.