Atlanticus (NASDAQ:ATLC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Atlanticus (NASDAQ:ATLC) from a buy rating to a strong-buy rating in a research report report published on Sunday.

A number of other research firms have also recently commented on ATLC. Weiss Ratings upgraded shares of Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. B. Riley Financial reiterated a “buy” rating on shares of Atlanticus in a research report on Thursday, May 14th. Citigroup reissued an “outperform” rating on shares of Atlanticus in a research note on Thursday, July 16th. BTIG Research raised their price objective on shares of Atlanticus from $105.00 to $179.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Finally, William Blair set a $100.00 target price on shares of Atlanticus in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Atlanticus currently has a consensus rating of “Moderate Buy” and an average target price of $126.00.

Atlanticus Trading Down 2.6%

Shares of ATLC stock opened at $97.58 on Friday. Atlanticus has a 1 year low of $47.50 and a 1 year high of $114.34. The firm has a fifty day moving average price of $100.06 and a 200-day moving average price of $77.39. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 12.69 and a beta of 2.11.

Atlanticus (NASDAQ:ATLC) last issued its quarterly earnings results on Thursday, August 6th. The credit services provider reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.08. Atlanticus had a return on equity of 25.17% and a net margin of 5.80%.The business had revenue of $744.31 million during the quarter, compared to analysts’ expectations of $716.35 million. As a group, equities analysts predict that Atlanticus will post 9.48 earnings per share for the current year.

Insider Transactions at Atlanticus

In related news, CEO Jeffrey A. Howard sold 10,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer owned 663,265 shares of the company’s stock, valued at $68,322,927.65. This represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mitchell Saunders sold 10,000 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $102.20, for a total transaction of $1,022,000.00. Following the transaction, the chief accounting officer owned 46,273 shares of the company’s stock, valued at $4,729,100.60. This trade represents a 17.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 75,000 shares of company stock valued at $7,868,627 over the last quarter. 51.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Atlanticus

Several large investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC bought a new stake in shares of Atlanticus in the 2nd quarter valued at approximately $7,286,000. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of Atlanticus during the 2nd quarter valued at approximately $9,161,293,000. Bank of America Corp DE purchased a new stake in Atlanticus during the 2nd quarter valued at $1,066,000. Jupiter Topco LLC purchased a new stake in Atlanticus during the 2nd quarter valued at $255,000. Finally, Hsbc Holdings PLC bought a new stake in Atlanticus in the second quarter worth $269,000. 14.15% of the stock is owned by institutional investors.

Atlanticus Company Profile

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.