Atlanticus (NASDAQ:ATLC) Price Target Raised to $54.00

Atlanticus (NASDAQ:ATLC) had its price target increased by JMP Securities from $45.00 to $54.00 in a report published on Wednesday,Benzinga reports. The firm currently has a market outperform rating on the credit services provider’s stock.

Other equities analysts have also recently issued reports about the stock. StockNews.com upgraded shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. BTIG Research increased their price objective on Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Stephens began coverage on Atlanticus in a report on Wednesday. They set an “overweight” rating and a $54.00 target price on the stock. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Atlanticus presently has an average rating of “Buy” and a consensus target price of $48.75.

Atlanticus Trading Down 1.3 %

Shares of ATLC stock opened at $48.58 on Wednesday. The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $716.07 million, a P/E ratio of 10.92 and a beta of 1.92. Atlanticus has a twelve month low of $23.09 and a twelve month high of $49.53. The stock’s fifty day simple moving average is $36.69 and its 200 day simple moving average is $32.32.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings data on Thursday, November 7th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.04. The company had revenue of $351.22 million during the quarter, compared to the consensus estimate of $326.64 million. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. As a group, sell-side analysts predict that Atlanticus will post 4.51 EPS for the current fiscal year.

Insider Transactions at Atlanticus

In other news, Director Deal W. Hudson sold 2,500 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $31.35, for a total transaction of $78,375.00. Following the completion of the transaction, the director now directly owns 64,955 shares in the company, valued at $2,036,339.25. This trade represents a 3.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 51.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atlanticus

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its stake in Atlanticus by 65.5% during the first quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock worth $69,000 after purchasing an additional 920 shares during the period. Empowered Funds LLC grew its stake in Atlanticus by 7.5% during the first quarter. Empowered Funds LLC now owns 15,094 shares of the credit services provider’s stock worth $447,000 after purchasing an additional 1,050 shares during the period. Vanguard Group Inc. grew its stake in Atlanticus by 1.0% during the first quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider’s stock worth $7,655,000 after purchasing an additional 2,453 shares during the period. Rhumbline Advisers grew its stake in Atlanticus by 9.3% during the second quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock worth $229,000 after purchasing an additional 690 shares during the period. Finally, Squarepoint Ops LLC grew its stake in Atlanticus by 9.3% during the second quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock worth $234,000 after purchasing an additional 704 shares during the period. 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.