Atlanticus Holdings Corporation (NASDAQ:ATLC) Receives $126.00 Average Price Target from Analysts

Atlanticus Holdings Corporation (NASDAQ:ATLC) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $126.00.

ATLC has been the subject of several analyst reports. HSBC set a $144.00 target price on Atlanticus in a research report on Monday. Jefferies Financial Group increased their price target on shares of Atlanticus from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Capital One Financial set a $144.00 price objective on shares of Atlanticus in a research note on Monday. B. Riley Financial restated a “buy” rating on shares of Atlanticus in a report on Thursday, May 14th. Finally, Texas Capital raised shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a research note on Monday.

Insider Activity

In related news, major shareholder Frank J. Hanna III sold 15,676 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $104.26, for a total value of $1,634,379.76. Following the completion of the sale, the insider owned 259,392 shares in the company, valued at $27,044,209.92. This represents a 5.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey A. Howard sold 10,000 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $103.01, for a total value of $1,030,100.00. Following the sale, the chief executive officer directly owned 663,265 shares in the company, valued at $68,322,927.65. The trade was a 1.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 75,000 shares of company stock worth $7,868,627 over the last quarter. Corporate insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Atlanticus

Several large investors have recently modified their holdings of ATLC. Royal Bank of Canada raised its position in shares of Atlanticus by 274.6% during the first quarter. Royal Bank of Canada now owns 23,314 shares of the credit services provider’s stock worth $1,193,000 after purchasing an additional 17,091 shares during the period. AQR Capital Management LLC acquired a new position in shares of Atlanticus in the 1st quarter valued at approximately $1,083,000. Jones Financial Companies Lllp acquired a new position in shares of Atlanticus in the 1st quarter valued at approximately $71,000. Empowered Funds LLC increased its stake in Atlanticus by 47.3% during the 1st quarter. Empowered Funds LLC now owns 38,312 shares of the credit services provider’s stock worth $1,960,000 after purchasing an additional 12,308 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Atlanticus by 241.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 18,039 shares of the credit services provider’s stock worth $988,000 after purchasing an additional 12,751 shares in the last quarter. 14.15% of the stock is currently owned by institutional investors.

Atlanticus Stock Up 3.8%

NASDAQ:ATLC opened at $103.24 on Tuesday. Atlanticus has a 12-month low of $45.74 and a 12-month high of $112.61. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $1.56 billion, a P/E ratio of 15.41 and a beta of 2.11. The stock’s fifty day simple moving average is $91.27 and its 200-day simple moving average is $71.02.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings data on Thursday, May 7th. The credit services provider reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.54. Atlanticus had a return on equity of 23.43% and a net margin of 5.86%.The business had revenue of $679.59 million during the quarter, compared to the consensus estimate of $749.36 million. Equities research analysts expect that Atlanticus will post 9.48 earnings per share for the current year.

About Atlanticus

Atlanticus Holdings Corporation is a specialty financial services holding company that provides credit products and solutions to consumers across the United States. Through its subsidiaries, the company offers proprietary credit card programs, installment loan products and deposit accounts designed to serve customers who may have limited access to traditional credit. Atlanticus markets its offerings through a variety of channels, including direct‐to‐consumer online platforms, mail order, call centers and partnerships with retail and e-commerce businesses.

The company underwrites and services credit card portfolios under private-label and co-branded agreements, combining technology‐enabled underwriting with tailored customer service.