B. Riley Boosts Atlanticus (NASDAQ:ATLC) Price Target to $90.00

Atlanticus (NASDAQ:ATLC) had its target price lifted by equities researchers at B. Riley from $70.00 to $90.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the credit services provider’s stock. B. Riley’s price target suggests a potential upside of 24.71% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. BTIG Research reaffirmed a “buy” rating and set a $84.00 target price on shares of Atlanticus in a report on Thursday. JMP Securities reissued a “market outperform” rating and issued a $78.00 price objective on shares of Atlanticus in a research note on Friday. Finally, Wall Street Zen cut shares of Atlanticus from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Atlanticus currently has a consensus rating of “Moderate Buy” and an average target price of $73.20.

Atlanticus Trading Up 6.2%

Shares of ATLC stock opened at $72.17 on Monday. The firm has a 50 day moving average price of $58.95 and a two-hundred day moving average price of $54.02. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $1.09 billion, a PE ratio of 12.68 and a beta of 2.00. Atlanticus has a 12-month low of $30.82 and a 12-month high of $75.71.

Atlanticus (NASDAQ:ATLC) last announced its earnings results on Thursday, August 7th. The credit services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.30 by $0.21. Atlanticus had a net margin of 8.51% and a return on equity of 24.20%. The company had revenue of $393.82 million for the quarter, compared to analysts’ expectations of $373.87 million. As a group, analysts predict that Atlanticus will post 4.49 earnings per share for the current year.

Insider Activity at Atlanticus

In other news, Director Deal W. Hudson sold 2,000 shares of Atlanticus stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $62.39, for a total transaction of $124,780.00. Following the transaction, the director owned 61,092 shares in the company, valued at approximately $3,811,529.88. The trade was a 3.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 51.80% of the company’s stock.

Hedge Funds Weigh In On Atlanticus

A number of hedge funds have recently modified their holdings of the business. Wellington Management Group LLP lifted its holdings in shares of Atlanticus by 198.9% during the first quarter. Wellington Management Group LLP now owns 365,278 shares of the credit services provider’s stock worth $18,684,000 after purchasing an additional 243,053 shares during the period. Geode Capital Management LLC lifted its holdings in Atlanticus by 2.3% in the second quarter. Geode Capital Management LLC now owns 126,841 shares of the credit services provider’s stock valued at $6,945,000 after buying an additional 2,812 shares during the period. American Century Companies Inc. lifted its holdings in Atlanticus by 25.8% in the second quarter. American Century Companies Inc. now owns 120,071 shares of the credit services provider’s stock valued at $6,574,000 after buying an additional 24,595 shares during the period. Bridgeway Capital Management LLC lifted its holdings in Atlanticus by 133.5% in the second quarter. Bridgeway Capital Management LLC now owns 93,234 shares of the credit services provider’s stock valued at $5,105,000 after buying an additional 53,312 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Atlanticus by 1.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 82,629 shares of the credit services provider’s stock valued at $4,524,000 after buying an additional 982 shares during the period. 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.