Atlanticus (NASDAQ:ATLC) Reaches New 12-Month High – Here’s What Happened

Atlanticus Holdings Co. (NASDAQ:ATLC) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $57.41 and last traded at $57.41, with a volume of 2473 shares changing hands. The stock had previously closed at $55.16.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ATLC. B. Riley lifted their price target on Atlanticus from $50.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com upgraded Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Stephens began coverage on Atlanticus in a research report on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 target price for the company. BTIG Research boosted their target price on Atlanticus from $45.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, JMP Securities boosted their target price on Atlanticus from $45.00 to $54.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Atlanticus presently has an average rating of “Buy” and a consensus target price of $53.00.

Atlanticus Stock Up 4.2 %

The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The company has a 50-day simple moving average of $38.83 and a two-hundred day simple moving average of $33.28. The stock has a market cap of $847.55 million, a P/E ratio of 12.40 and a beta of 1.92.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings data on Thursday, November 7th. The credit services provider reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.04. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. The firm had revenue of $351.22 million during the quarter, compared to the consensus estimate of $326.64 million. On average, equities analysts forecast that Atlanticus Holdings Co. will post 4.47 EPS for the current year.

Insider Activity

In other Atlanticus news, Director Deal W. Hudson sold 2,500 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $31.35, for a total value of $78,375.00. Following the completion of the transaction, the director now owns 64,955 shares in the company, valued at approximately $2,036,339.25. This represents a 3.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mitchell Saunders sold 16,004 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $55.55, for a total value of $889,022.20. Following the completion of the transaction, the chief accounting officer now owns 50,973 shares of the company’s stock, valued at approximately $2,831,550.15. This trade represents a 23.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,204 shares of company stock valued at $1,080,197. Company insiders own 51.80% of the company’s stock.

Hedge Funds Weigh In On Atlanticus

Several institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC increased its holdings in shares of Atlanticus by 285.6% during the third quarter. Barclays PLC now owns 8,218 shares of the credit services provider’s stock valued at $289,000 after acquiring an additional 6,087 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Atlanticus by 2.0% during the third quarter. Geode Capital Management LLC now owns 122,501 shares of the credit services provider’s stock valued at $4,298,000 after acquiring an additional 2,348 shares in the last quarter. Jane Street Group LLC bought a new stake in Atlanticus in the 3rd quarter worth about $313,000. Wellington Management Group LLP bought a new stake in Atlanticus in the 3rd quarter worth about $1,654,000. Finally, State Street Corp increased its holdings in Atlanticus by 2.4% in the 3rd quarter. State Street Corp now owns 93,431 shares of the credit services provider’s stock worth $3,278,000 after buying an additional 2,212 shares in the last quarter. 14.15% of the stock is currently owned by institutional investors.

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.