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

StockNews.com upgraded shares of Atlanticus (NASDAQ:ATLC) from a buy rating to a strong-buy rating in a research report report published on Tuesday.

Separately, JMP Securities restated a market outperform rating and issued a $39.00 target price on shares of Atlanticus in a report on Wednesday, April 17th.

Atlanticus Trading Up 3.5 %

Shares of ATLC opened at $24.26 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.37. Atlanticus has a 1-year low of $23.20 and a 1-year high of $43.70. The stock has a market capitalization of $359.05 million, a P/E ratio of 5.74 and a beta of 1.84. The business’s 50-day moving average price is $29.97 and its 200 day moving average price is $31.82.

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

Insider Activity

In related news, major shareholder Frank J. Hanna III acquired 263,432 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were purchased at an average cost of $28.21 per share, with a total value of $7,431,416.72. Following the completion of the transaction, the insider now owns 263,432 shares of the company’s stock, valued at approximately $7,431,416.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Frank J. Hanna III bought 263,432 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was bought at an average price of $28.21 per share, with a total value of $7,431,416.72. Following the purchase, the insider now directly owns 263,432 shares of the company’s stock, valued at approximately $7,431,416.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Deal W. Hudson sold 2,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $30.50, for a total transaction of $61,000.00. Following the completion of the transaction, the director now directly owns 69,855 shares in the company, valued at $2,130,577.50. The disclosure for this sale can be found here. 52.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Atlanticus

Institutional investors have recently made changes to their positions in the company. Swiss National Bank raised its position in Atlanticus by 16.5% during the third quarter. Swiss National Bank now owns 12,700 shares of the credit services provider’s stock valued at $385,000 after acquiring an additional 1,800 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Atlanticus during the 3rd quarter worth $30,000. Simplicity Solutions LLC raised its holdings in shares of Atlanticus by 10.5% during the 3rd quarter. Simplicity Solutions LLC now owns 10,760 shares of the credit services provider’s stock valued at $326,000 after purchasing an additional 1,024 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in shares of Atlanticus in the 3rd quarter valued at $282,000. Finally, Barclays PLC boosted its holdings in 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 purchasing an additional 435 shares in the last quarter. 14.15% of the stock is currently owned by institutional investors and hedge funds.

About Atlanticus

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.