Atlanticus (NASDAQ:ATLC) Stock Gets Price Target Cut from BTIG Research

Atlanticus (NASDAQ:ATLC) had its price objective lowered by BTIG Research from $179.00 to $150.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the credit services provider’s stock. BTIG Research‘s price target points to a potential upside of 55.52% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Texas Capital upgraded Atlanticus from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Citigroup reiterated an “outperform” rating on shares of Atlanticus in a report on Thursday, July 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Atlanticus in a research note on Tuesday, September 8th. Wall Street Zen upgraded Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Sunday, October 11th. Finally, B. Riley Financial restated a “buy” rating on shares of Atlanticus in a report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $124.86.

Atlanticus Price Performance

Shares of NASDAQ ATLC opened at $96.45 on Friday. The company has a market capitalization of $1.46 billion, a PE ratio of 12.54 and a beta of 1.80. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.99. Atlanticus has a twelve month low of $47.50 and a twelve month high of $114.34. The firm has a fifty day simple moving average of $92.32 and a 200 day simple moving average of $80.93.

Atlanticus (NASDAQ:ATLC) last issued its quarterly earnings results on Thursday, November 5th. The credit services provider reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $0.01. Atlanticus had a return on equity of 25.17% and a net margin of 5.80%. The firm had revenue of $775.85 million during the quarter, compared to the consensus estimate of $775.08 million. On average, sell-side analysts forecast that Atlanticus will post 9.73 EPS for the current year.

Hedge Funds Weigh In On Atlanticus

A number of institutional investors and hedge funds have recently made changes to their positions in ATLC. Range Financial Group LLC grew its stake in Atlanticus by 5.8% in the first quarter. Range Financial Group LLC now owns 4,526 shares of the credit services provider’s stock valued at $237,000 after acquiring an additional 247 shares during the period. Financial Management Professionals Inc. bought a new stake in shares of Atlanticus during the second quarter valued at approximately $33,000. USA Financial Formulas acquired a new position in shares of Atlanticus during the third quarter worth approximately $39,000. Allspring Global Investments Holdings LLC raised its position in shares of Atlanticus by 11.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,701 shares of the credit services provider’s stock worth $471,000 after purchasing an additional 918 shares during the period. Finally, Bank of America Corp DE raised its position 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 worth $330,000 after purchasing an additional 963 shares during the period. Institutional investors own 14.15% of the company’s stock.

About Atlanticus

Atlanticus Holdings Corporation is a financial technology and services company that provides credit and related financial products to consumers, primarily in the United States. Through its subsidiaries, the company focuses on serving consumers who may have limited access to traditional forms of credit.

Atlanticus operates businesses offering private-label and general-purpose credit products, including credit cards and installment loans. Its offerings are distributed through direct-to-consumer channels and partnerships with merchants, giving consumers access to financing for purchases and other personal needs.

The company also operates an auto finance business that provides vehicle-related lending solutions.