Atlanticus (NASDAQ:ATLC) Rating Increased to Strong-Buy at StockNews.com

Atlanticus (NASDAQ:ATLC) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday.

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

Atlanticus Price Performance

Atlanticus stock opened at $24.88 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.38 and a current ratio of 1.38. Atlanticus has a 52 week low of $23.20 and a 52 week high of $43.70. The stock has a market capitalization of $368.22 million, a P/E ratio of 5.88 and a beta of 1.84. The stock has a fifty day moving average of $29.80 and a 200-day moving average of $31.77.

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

Insiders Place Their Bets

In other Atlanticus news, Director Deal W. Hudson sold 2,000 shares of the 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 transaction, the director now owns 69,855 shares in the company, valued at $2,130,577.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Frank J. Hanna III bought 263,432 shares of the company’s stock in a transaction dated Tuesday, April 9th. The shares were bought at an average price of $28.21 per share, for a total transaction of $7,431,416.72. Following the completion of the acquisition, the insider now directly owns 263,432 shares of the company’s stock, valued at $7,431,416.72. The acquisition 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 firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $30.50, for a total value of $61,000.00. Following the completion of the transaction, the director now owns 69,855 shares in the company, valued at approximately $2,130,577.50. The disclosure for this sale can be found here. Corporate insiders own 52.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale bought a new position in shares of Atlanticus in the third quarter valued at approximately $30,000. Barclays PLC lifted its holdings in Atlanticus by 23.8% during 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 period. New York State Common Retirement Fund lifted its holdings in Atlanticus by 62.4% during the third quarter. New York State Common Retirement Fund now owns 6,254 shares of the credit services provider’s stock worth $190,000 after acquiring an additional 2,404 shares during the period. O Shaughnessy Asset Management LLC bought a new stake in Atlanticus during the third quarter worth $282,000. Finally, Simplicity Solutions LLC lifted its holdings in Atlanticus by 10.5% during the third quarter. Simplicity Solutions LLC now owns 10,760 shares of the credit services provider’s stock worth $326,000 after acquiring an additional 1,024 shares during the period. Institutional investors own 14.15% of the company’s stock.

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.