Atlanticus (NASDAQ:ATLC) Raised to Strong-Buy at StockNews.com

Atlanticus (NASDAQ:ATLC) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.

Separately, JMP Securities reaffirmed a “market outperform” rating and set a $39.00 price target on shares of Atlanticus in a research note on Wednesday, April 17th.

Atlanticus Stock Up 2.6 %

Shares of NASDAQ ATLC opened at $24.88 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $368.22 million, a P/E ratio of 5.88 and a beta of 1.84. Atlanticus has a 1 year low of $23.20 and a 1 year high of $43.70. The firm has a 50-day simple moving average of $29.80 and a two-hundred day simple moving average of $31.77.

Atlanticus (NASDAQ:ATLC) last posted its quarterly earnings results on Monday, March 4th. The credit services provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.14. Atlanticus had a net margin of 8.90% and a return on equity of 27.93%. The firm had revenue of $309.09 million during the quarter, compared to the consensus estimate of $304.68 million. Research analysts anticipate that Atlanticus will post 4.85 earnings per share for the current year.

Insider Activity

In other Atlanticus news, major shareholder Frank J. Hanna III acquired 263,432 shares of Atlanticus stock in a transaction that occurred on Tuesday, April 9th. The stock was bought at an average price of $28.21 per share, with a total value of $7,431,416.72. Following the completion of the purchase, the insider now directly owns 263,432 shares of the company’s stock, valued at approximately $7,431,416.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Deal W. Hudson sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $30.50, for a total value of $61,000.00. Following the completion of the transaction, the director now owns 69,855 shares of the company’s stock, valued at $2,130,577.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Frank J. Hanna III acquired 263,432 shares of Atlanticus stock in a transaction that occurred on Tuesday, April 9th. The stock was acquired at an average cost of $28.21 per share, with a total value of $7,431,416.72. Following the purchase, the insider now directly owns 263,432 shares of the company’s stock, valued at $7,431,416.72. The disclosure for this purchase can be found here. Insiders own 52.40% of the company’s stock.

Hedge Funds Weigh In On Atlanticus

Institutional investors and hedge funds have recently bought and sold shares of the company. Swiss National Bank grew its holdings in Atlanticus by 16.5% in the third quarter. Swiss National Bank now owns 12,700 shares of the credit services provider’s stock worth $385,000 after purchasing an additional 1,800 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Atlanticus in the third quarter worth $30,000. Simplicity Solutions LLC grew its holdings in Atlanticus by 10.5% in the third quarter. Simplicity Solutions LLC now owns 10,760 shares of the credit services provider’s stock worth $326,000 after purchasing an additional 1,024 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new position in Atlanticus in the third quarter worth $282,000. Finally, Barclays PLC grew its holdings in Atlanticus by 23.8% in the third quarter. Barclays PLC now owns 2,263 shares of the credit services provider’s stock worth $68,000 after purchasing an additional 435 shares during the last quarter. 14.15% of the stock is owned by hedge funds and other 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.