Atlanticus (NASDAQ:ATLC) Price Target Raised to $70.00 at B. Riley

Atlanticus (NASDAQ:ATLC) had its target price hoisted by B. Riley from $50.00 to $70.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a buy rating on the credit services provider’s stock.

Other research analysts have also recently issued research reports about the company. Stephens began coverage on Atlanticus in a research note on Wednesday, November 13th. They set an “overweight” rating and a $54.00 price objective on the stock. JMP Securities boosted their price target on Atlanticus from $45.00 to $54.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 13th. BTIG Research upped their price target on Atlanticus from $45.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, StockNews.com raised shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $53.00.

Atlanticus Stock Up 5.6 %

Shares of ATLC opened at $54.38 on Thursday. Atlanticus has a fifty-two week low of $23.09 and a fifty-two week high of $54.50. The company’s fifty day moving average is $38.36 and its two-hundred day moving average is $33.01. The firm has a market cap of $801.49 million, a PE ratio of 12.22 and a beta of 1.92. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59.

Atlanticus (NASDAQ:ATLC) last issued its earnings results on Thursday, November 7th. The credit services provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.04. The firm had revenue of $351.22 million for the quarter, compared to analysts’ expectations of $326.64 million. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. Analysts forecast that Atlanticus will post 4.41 earnings per share for the current year.

Insider Activity

In other news, Director Deal W. Hudson sold 1,200 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $32.75, for a total value of $39,300.00. Following the sale, the director now owns 67,455 shares in the company, valued at approximately $2,209,151.25. This represents a 1.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Denise M. Harrod sold 1,141 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $49.00, for a total transaction of $55,909.00. Following the transaction, the director now directly owns 5,659 shares in the company, valued at $277,291. The trade was a 16.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,200 shares of company stock worth $191,175. 51.80% of the stock is currently owned by insiders.

Institutional Trading of Atlanticus

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its position in shares of Atlanticus by 65.5% during the 1st quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock valued at $69,000 after acquiring an additional 920 shares in the last quarter. FMR LLC raised its holdings in shares of Atlanticus by 393.1% during the third quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock worth $80,000 after purchasing an additional 1,820 shares during the period. MetLife Investment Management LLC lifted its position in shares of Atlanticus by 158.8% in the 3rd quarter. MetLife Investment Management LLC now owns 2,971 shares of the credit services provider’s stock worth $104,000 after buying an additional 1,823 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Atlanticus by 9.3% in the 2nd quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock valued at $229,000 after buying an additional 690 shares during the period. Finally, Squarepoint Ops LLC grew its position in shares of Atlanticus by 9.3% during the 2nd quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock valued at $234,000 after buying an additional 704 shares during the last quarter. Institutional investors and hedge funds own 14.15% of the company’s stock.

Atlanticus Company Profile

Atlanticus Holdings Corporation, a financial technology company, provides credit and related financial services and products to customers the United States. It operates in two segments, Credit as a Service, and Auto Finance. The Credit as a Service segment originates a range of consumer loan products, such as private label and general purpose credit cards originated by lenders through various channels, including retail and healthcare, direct mail solicitation, digital marketing, and partnerships with third parties; and offers credit to their customers for the purchase of various goods and services, including consumer electronics, furniture, elective medical procedures, healthcare, and home-improvements by partnering with retailers, healthcare providers, and other service providers.