KLP Kapitalforvaltning AS Takes $56,000 Position in Atlanticus Holdings Corporation (NASDAQ:ATLC)

KLP Kapitalforvaltning AS acquired a new stake in shares of Atlanticus Holdings Corporation (NASDAQ:ATLC) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,100 shares of the credit services provider’s stock, valued at approximately $56,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its position in shares of Atlanticus by 229.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 728 shares of the credit services provider’s stock valued at $41,000 after purchasing an additional 507 shares during the last quarter. State of Tennessee Department of Treasury purchased a new stake in Atlanticus during the fourth quarter valued at approximately $143,000. Two Sigma Advisers LP bought a new position in Atlanticus in the fourth quarter worth approximately $201,000. PDT Partners LLC purchased a new position in shares of Atlanticus during the 4th quarter worth $221,000. Finally, Marshall Wace LLP bought a new stake in shares of Atlanticus during the 4th quarter valued at $233,000. Hedge funds and other institutional investors own 14.15% of the company’s stock.

Atlanticus Price Performance

Shares of Atlanticus stock opened at $48.02 on Friday. The company has a market capitalization of $726.54 million, a price-to-earnings ratio of 9.29 and a beta of 1.93. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.57. The stock’s 50-day simple moving average is $52.14 and its 200-day simple moving average is $53.13. Atlanticus Holdings Corporation has a 52 week low of $25.44 and a 52 week high of $64.70.

Atlanticus (NASDAQ:ATLC) last posted its quarterly earnings results on Thursday, May 8th. The credit services provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.16. Atlanticus had a return on equity of 24.51% and a net margin of 8.54%. The company had revenue of $344.87 million for the quarter, compared to analysts’ expectations of $347.24 million. As a group, analysts expect that Atlanticus Holdings Corporation will post 4.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $60.00 price target (up previously from $52.00) on shares of Atlanticus in a report on Monday, May 12th. JMP Securities boosted their price objective on Atlanticus from $72.00 to $75.00 and gave the company a “market outperform” rating in a research note on Thursday, July 17th. Finally, Wall Street Zen cut shares of Atlanticus from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 9th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Atlanticus presently has a consensus rating of “Buy” and an average target price of $62.60.

Atlanticus 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.