BTIG Research Forecasts Strong Price Appreciation for Atlanticus (NASDAQ:ATLC) Stock

Atlanticus (NASDAQ:ATLC) had its target price hoisted by stock analysts at BTIG Research from $105.00 to $179.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the credit services provider’s stock. BTIG Research’s price objective suggests a potential upside of 71.67% from the stock’s previous close.

Several other research analysts have also commented on the company. William Blair set a $100.00 price target on Atlanticus in a report on Wednesday, June 10th. Weiss Ratings upgraded shares of Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Wall Street Zen cut shares of Atlanticus from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Zacks Research raised shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 20th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Atlanticus in a report on Thursday, May 14th. 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $119.75.

Atlanticus Price Performance

NASDAQ:ATLC opened at $104.27 on Tuesday. Atlanticus has a one year low of $45.74 and a one year high of $112.61. The stock has a market cap of $1.58 billion, a PE ratio of 15.56 and a beta of 2.14. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50 day moving average price of $85.56 and a 200 day moving average price of $68.21.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings data on Thursday, May 7th. The credit services provider reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.54. The company had revenue of $679.59 million for the quarter, compared to analyst estimates of $749.36 million. Atlanticus had a return on equity of 23.43% and a net margin of 5.86%. Equities research analysts expect that Atlanticus will post 9.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO William Mccamey sold 10,000 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $109.45, for a total value of $1,094,500.00. Following the transaction, the chief financial officer owned 137,410 shares of the company’s stock, valued at $15,039,524.50. This represents a 6.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey A. Howard sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $109.45, for a total value of $1,094,500.00. Following the sale, the chief executive officer directly owned 673,265 shares of the company’s stock, valued at $73,688,854.25. The trade was a 1.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 51.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Atlanticus

Several large investors have recently made changes to their positions in ATLC. Royal Bank of Canada boosted its position in shares of Atlanticus by 274.6% during the 1st quarter. Royal Bank of Canada now owns 23,314 shares of the credit services provider’s stock worth $1,193,000 after purchasing an additional 17,091 shares during the period. AQR Capital Management LLC acquired a new position in Atlanticus during the first quarter worth $1,083,000. Jones Financial Companies Lllp acquired a new position in Atlanticus during the first quarter worth $71,000. Empowered Funds LLC boosted its position in shares of Atlanticus by 47.3% during the first quarter. Empowered Funds LLC now owns 38,312 shares of the credit services provider’s stock worth $1,960,000 after buying an additional 12,308 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Atlanticus by 241.1% during the second quarter. JPMorgan Chase & Co. now owns 18,039 shares of the credit services provider’s stock worth $988,000 after buying an additional 12,751 shares during the period. 14.15% of the stock is currently owned by institutional investors and hedge funds.

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.