Atlanticus (NASDAQ:ATLC) Stock Rating Lowered by Wall Street Zen

by · The Cerbat Gem

Atlanticus (NASDAQ:ATLC – Get Free Report) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently issued reports on the company. B. Riley Financial raised their price objective on Atlanticus from $111.00 to $119.00 and gave the stock a “buy” rating in a report on Thursday. Texas Capital upgraded Atlanticus from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. HSBC set a $144.00 target price on Atlanticus in a research report on Monday, July 13th. Capital One Financial set a $144.00 price target on Atlanticus in a report on Monday, July 13th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Atlanticus in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Atlanticus currently has an average rating of “Moderate Buy” and an average price target of $129.00.

Check Out Our Latest Stock Analysis on ATLC

Atlanticus Stock Performance

Shares of ATLC opened at $93.13 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 12.11 and a beta of 2.02. The company’s 50 day simple moving average is $98.76 and its 200 day simple moving average is $81.06. Atlanticus has a 1 year low of $47.50 and a 1 year high of $114.34.

Atlanticus (NASDAQ:ATLC – Get Free Report) last released its earnings results on Thursday, August 6th. The credit services provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.42 by $0.08. The firm had revenue of $744.31 million during the quarter, compared to analysts’ expectations of $716.35 million. Atlanticus had a net margin of 5.80% and a return on equity of 25.17%. On average, sell-side analysts predict that Atlanticus will post 9.73 EPS for the current year.

Insider Activity at Atlanticus

In other Atlanticus news, CFO William McCamey sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $103.01, for a total transaction of $1,030,100.00. Following the completion of the sale, the chief financial officer directly owned 127,410 shares in the company, valued at $13,124,504.10. This represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Frank J. Hanna III sold 15,676 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $104.26, for a total value of $1,634,379.76. Following the sale, the insider owned 259,392 shares of the company’s stock, valued at $27,044,209.92. This represents a 5.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 75,000 shares of company stock valued at $7,868,627 over the last quarter. 51.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Atlanticus

A number of institutional investors have recently modified their holdings of the company. Financial Management Professionals Inc. purchased a new position in Atlanticus in the second quarter valued at approximately $33,000. Advisory Services Network LLC purchased a new stake in Atlanticus during the third quarter worth approximately $47,000. Jones Financial Companies Lllp purchased a new stake in Atlanticus during the first quarter worth approximately $71,000. Inspire Investing LLC acquired a new stake in shares of Atlanticus in the first quarter worth $87,000. Finally, BNP Paribas Financial Markets increased its position in shares of Atlanticus by 334.8% in the second quarter. BNP Paribas Financial Markets now owns 1,735 shares of the credit services provider’s stock worth $95,000 after acquiring an additional 1,336 shares in the last quarter. Hedge funds and other institutional investors own 14.15% of the company’s stock.

Atlanticus Company Profile

(Get Free Report)

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.

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