Atlanticus (NASDAQ:ATLC) Stock Rating Upgraded by Zacks Research

Atlanticus (NASDAQ:ATLC) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other research analysts have also issued reports about the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Atlanticus in a research note on Friday, March 27th. B. Riley Financial lifted their price objective on shares of Atlanticus from $90.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, March 23rd. Citizens Jmp lifted their price objective on shares of Atlanticus from $100.00 to $102.00 and gave the company a “market outperform” rating in a research note on Tuesday, March 17th. Finally, Wall Street Zen upgraded shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Atlanticus currently has a consensus rating of “Moderate Buy” and an average target price of $91.25.

Atlanticus Stock Performance

NASDAQ:ATLC opened at $71.71 on Monday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.23 and a quick ratio of 1.23. The business has a fifty day simple moving average of $56.57 and a two-hundred day simple moving average of $58.16. Atlanticus has a 1 year low of $45.74 and a 1 year high of $78.91. The company has a market capitalization of $1.07 billion, a P/E ratio of 12.03 and a beta of 1.88.

Atlanticus (NASDAQ:ATLC) last released its earnings results on Thursday, March 12th. The credit services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. Atlanticus had a return on equity of 22.39% and a net margin of 6.21%.The business had revenue of $734.39 million during the quarter, compared to the consensus estimate of $691.81 million. On average, analysts expect that Atlanticus will post 8.48 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in shares of Atlanticus during the 4th quarter valued at $105,000. Range Financial Group LLC purchased a new position in shares of Atlanticus during the 4th quarter valued at $286,000. Allspring Global Investments Holdings LLC grew its position in shares of Atlanticus by 9.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 7,783 shares of the credit services provider’s stock valued at $521,000 after purchasing an additional 681 shares in the last quarter. Integrated Quantitative Investments LLC purchased a new position in shares of Atlanticus during the 3rd quarter valued at $223,000. Finally, Quantbot Technologies LP grew its position in shares of Atlanticus by 49.6% during the 3rd quarter. Quantbot Technologies LP now owns 4,340 shares of the credit services provider’s stock valued at $254,000 after purchasing an additional 1,439 shares in the last quarter. 14.15% of the stock is currently owned by hedge funds and other institutional investors.

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.