Atlanticus (NASDAQ:ATLC) Shares Gap Up – Should You Buy?

Shares of Atlanticus Holdings Corporation (NASDAQ:ATLC) gapped up prior to trading on Monday . The stock had previously closed at $99.26, but opened at $103.81. Atlanticus shares last traded at $101.42, with a volume of 16,704 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. HSBC set a $144.00 price objective on Atlanticus in a research note on Monday. William Blair set a $100.00 target price on Atlanticus in a report on Wednesday, June 10th. Weiss Ratings upgraded Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. BTIG Research raised their price target on Atlanticus from $105.00 to $179.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Finally, Zacks Research upgraded Atlanticus from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.00.

Atlanticus Stock Up 1.2%

The business’s 50 day moving average is $89.60 and its 200 day moving average is $70.19. 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 company has a market cap of $1.52 billion, a P/E ratio of 15.00 and a beta of 2.11.

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

Insider Activity

In related news, CAO Mitchell Saunders sold 10,000 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $102.20, for a total transaction of $1,022,000.00. Following the transaction, the chief accounting officer directly owned 46,273 shares of the company’s stock, valued at $4,729,100.60. This represents a 17.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey A. Howard sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $103.01, for a total transaction of $1,030,100.00. Following the completion of the transaction, the chief executive officer directly owned 663,265 shares of the company’s stock, valued at $68,322,927.65. The trade was a 1.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 75,000 shares of company stock worth $7,868,627. Insiders own 51.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Financial Management Professionals Inc. purchased a new position in shares of Atlanticus in the second quarter worth $33,000. Bank of America Corp DE grew its holdings in shares of Atlanticus by 18.1% during the first quarter. Bank of America Corp DE now owns 6,280 shares of the credit services provider’s stock valued at $330,000 after buying an additional 963 shares during the last quarter. Empowered Funds LLC increased its position in shares of Atlanticus by 7.0% in the 1st quarter. Empowered Funds LLC now owns 69,309 shares of the credit services provider’s stock valued at $3,637,000 after acquiring an additional 4,556 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Atlanticus by 11.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,701 shares of the credit services provider’s stock worth $471,000 after acquiring an additional 918 shares during the last quarter. Finally, Range Financial Group LLC lifted its position in Atlanticus by 5.8% during the 1st quarter. Range Financial Group LLC now owns 4,526 shares of the credit services provider’s stock worth $237,000 after acquiring an additional 247 shares during the period. Institutional investors and hedge funds own 14.15% of the company’s stock.

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.