Atlanticus (NASDAQ:ATLC) Stock Price Up 6.6% After Analyst Upgrade

Atlanticus Holdings Corporation (NASDAQ:ATLC)’s stock price shot up 6.6% during mid-day trading on Tuesday after Citizens Jmp raised their price target on the stock from $100.00 to $102.00. Citizens Jmp currently has a market outperform rating on the stock. Atlanticus traded as high as $52.87 and last traded at $52.1550. 10,931 shares changed hands during trading, a decline of 84% from the average session volume of 68,488 shares. The stock had previously closed at $48.93.

A number of other research analysts also recently issued reports on ATLC. Weiss Ratings restated a “hold (c-)” rating on shares of Atlanticus in a research note on Monday, December 29th. B. Riley Financial started coverage on Atlanticus in a research note on Wednesday, January 7th. They issued a “buy” rating and a $90.00 price objective for the company. Citigroup reissued an “outperform” rating on shares of Atlanticus in a report on Thursday, December 11th. Finally, Wall Street Zen upgraded shares of Atlanticus from a “hold” rating to a “buy” rating in a research report on Saturday. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.25.

Insider Activity

In other news, Director Deal W. Hudson sold 1,675 shares of the stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $59.72, for a total transaction of $100,031.00. Following the transaction, the director owned 60,467 shares of the company’s stock, valued at approximately $3,611,089.24. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 51.80% of the company’s stock.

Institutional Trading of Atlanticus

Several institutional investors and hedge funds have recently bought and sold shares of the company. Empowered Funds LLC grew its position in shares of Atlanticus by 8.0% in the 4th quarter. Empowered Funds LLC now owns 64,753 shares of the credit services provider’s stock worth $4,335,000 after acquiring an additional 4,805 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Atlanticus in the 4th quarter valued at approximately $594,000. Zacks Investment Management acquired a new stake in shares of Atlanticus during the 4th quarter valued at approximately $220,000. Wellington Management Group LLP raised its position in shares of Atlanticus by 54.7% during the 4th quarter. Wellington Management Group LLP now owns 704,282 shares of the credit services provider’s stock valued at $47,152,000 after acquiring an additional 249,100 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Atlanticus by 75.4% during the fourth quarter. Millennium Management LLC now owns 29,240 shares of the credit services provider’s stock worth $1,958,000 after purchasing an additional 12,574 shares during the last quarter. Institutional investors and hedge funds own 14.15% of the company’s stock.

Atlanticus Trading Up 10.1%

The stock has a market cap of $803.59 million, a price-to-earnings ratio of 9.04 and a beta of 1.95. The business’s fifty day simple moving average is $55.73 and its 200 day simple moving average is $59.45. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.23 and a quick ratio of 1.23.

Atlanticus (NASDAQ:ATLC) last issued its earnings results on Thursday, March 12th. The credit services provider reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. Atlanticus had a net margin of 6.21% and a return on equity of 22.39%. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $691.81 million. On average, research analysts predict that Atlanticus Holdings Corporation will post 4.49 EPS 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.