Atlanticus’ (ATLC) “Buy” Rating Reaffirmed at BTIG Research

Atlanticus (NASDAQ:ATLC)‘s stock had its “buy” rating reaffirmed by BTIG Research in a research note issued to investors on Tuesday, Marketbeat.com reports. They currently have a $179.00 price objective on the credit services provider’s stock. BTIG Research’s price objective indicates a potential upside of 95.36% from the company’s current price.

ATLC has been the subject of a number of other research reports. Capital One Financial set a $144.00 target price on shares of Atlanticus in a research report on Monday, July 13th. William Blair set a $100.00 price objective on shares of Atlanticus in a research note on Wednesday, June 10th. Zacks Research lowered shares of Atlanticus from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Citigroup reaffirmed an “outperform” rating on shares of Atlanticus in a research report on Thursday, July 16th. Finally, HSBC set a $144.00 price objective on Atlanticus in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $129.00.

Atlanticus Trading Up 0.7%

Shares of ATLC traded up $0.66 during mid-day trading on Tuesday, reaching $91.63. The company had a trading volume of 604 shares, compared to its average volume of 111,321. Atlanticus has a fifty-two week low of $47.50 and a fifty-two week high of $114.34. The firm has a fifty day simple moving average of $97.11 and a 200-day simple moving average of $84.87. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 11.92 and a beta of 2.02. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.99.

Atlanticus (NASDAQ:ATLC) last issued its earnings results on Thursday, August 6th. The credit services provider reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.08. The firm had revenue of $744.32 million for the quarter, compared to analysts’ expectations of $716.35 million. Atlanticus had a return on equity of 25.17% and a net margin of 5.80%. On average, sell-side analysts anticipate that Atlanticus will post 9.73 EPS for the current fiscal year.

Insider Buying and Selling at Atlanticus

In other news, CFO William McCamey sold 10,000 shares of Atlanticus stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $103.01, for a total value of $1,030,100.00. Following the completion of the transaction, the chief financial officer directly owned 127,410 shares of the company’s stock, valued at approximately $13,124,504.10. The trade was a 7.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Mitchell Saunders sold 10,000 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $102.20, for a total transaction of $1,022,000.00. Following the sale, the chief accounting officer owned 46,273 shares in the company, valued at approximately $4,729,100.60. This trade represents a 17.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 55,000 shares of company stock valued at $5,679,627. Corporate insiders own 51.00% of the company’s stock.

Institutional Trading of Atlanticus

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Atlanticus in the second quarter worth $43,535,000. Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of Atlanticus in the 2nd quarter worth about $9,161,293. Empowered Funds LLC bought a new stake in Atlanticus in the 2nd quarter valued at about $7,286,000. HB Wealth Management LLC lifted its position in Atlanticus by 1,761.6% in the 1st quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider’s stock valued at $6,233,000 after purchasing an additional 112,407 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Atlanticus by 4.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 51,629 shares of the credit services provider’s stock worth $2,709,000 after purchasing an additional 1,965 shares during the last quarter. 14.15% of the stock is currently owned by institutional investors and hedge funds.

Atlanticus Company Profile

Atlanticus Holdings Corporation is a financial technology company that provides credit and related financial services to consumers, particularly those who may have limited access to traditional lending products. The company works with merchants, financial institutions and other business partners to offer financing options at the point of sale and through direct-to-consumer channels.

Its consumer finance activities include retail credit programs, private-label and general-purpose credit cards, personal lending products and other installment financing.