Atlanticus (NASDAQ:ATLC) Sets New 12-Month High – Here’s Why

Atlanticus Holdings Corporation (NASDAQ:ATLC) shares reached a new 52-week high on Wednesday . The stock traded as high as $89.54 and last traded at $90.88, with a volume of 1270 shares. The stock had previously closed at $83.14.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. B. Riley Financial reaffirmed a “buy” rating on shares of Atlanticus in a research report on Thursday, May 14th. Weiss Ratings lowered Atlanticus from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday. Citizens Jmp lifted their price target on Atlanticus from $100.00 to $102.00 and gave the company a “market outperform” rating in a research note on Tuesday, March 17th. Wall Street Zen upgraded Atlanticus from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Finally, Zacks Research upgraded Atlanticus from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $101.67.

Atlanticus Price Performance

The company has a 50 day moving average price of $69.78 and a 200-day moving average price of $62.37. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.08. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 12.65 and a beta of 2.14.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Range Financial Group LLC lifted its holdings in Atlanticus by 5.8% during the 1st quarter. Range Financial Group LLC now owns 4,526 shares of the credit services provider’s stock worth $237,000 after buying an additional 247 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Atlanticus by 5.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,194 shares of the credit services provider’s stock worth $616,000 after buying an additional 478 shares during the period. Jump Financial LLC lifted its holdings in Atlanticus by 6.1% during the 2nd quarter. Jump Financial LLC now owns 9,344 shares of the credit services provider’s stock worth $512,000 after buying an additional 537 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Atlanticus by 9.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 7,783 shares of the credit services provider’s stock worth $521,000 after buying an additional 681 shares during the period. Finally, Murphy & Mullick Capital Management Corp acquired a new position in Atlanticus during the 3rd quarter worth about $38,000. Institutional investors and hedge funds own 14.15% of the company’s stock.

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.