Atlanticus (NASDAQ:ATLC) Cut to Buy at Wall Street Zen
by Renee Jackson · The Cerbat GemWall Street Zen downgraded shares of Atlanticus (NASDAQ:ATLC – Free Report) from a strong-buy rating to a buy rating in a research report released on Saturday.
Other analysts have also issued reports about the company. Zacks Research raised Atlanticus from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. B. Riley Financial lifted their target price on Atlanticus from $90.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, March 23rd. Citizens Jmp lifted their target price on Atlanticus from $100.00 to $102.00 and gave the stock a “market outperform” rating in a research report on Tuesday, March 17th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Atlanticus in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Atlanticus presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.25.
Read Our Latest Stock Report on Atlanticus
Atlanticus Trading Up 0.6%
NASDAQ:ATLC opened at $79.39 on Friday. The business’s 50-day moving average is $58.48 and its two-hundred day moving average is $58.78. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.23 and a quick ratio of 1.23. Atlanticus has a 12 month low of $45.74 and a 12 month high of $79.39. The firm has a market capitalization of $1.18 billion, a PE ratio of 13.32 and a beta of 1.88.
Atlanticus (NASDAQ:ATLC – Get Free Report) last released its quarterly earnings data on Thursday, March 12th. The credit services provider reported $1.75 EPS for the quarter, beating the consensus estimate of $1.65 by $0.10. Atlanticus had a return on equity of 22.39% and a net margin of 6.21%.The company had revenue of $734.39 million for the quarter, compared to analyst estimates of $691.81 million. Research analysts predict that Atlanticus will post 8.48 earnings per share for the current fiscal year.
Institutional Trading of Atlanticus
Several hedge funds and other institutional investors have recently bought and sold shares of the company. HB Wealth Management LLC increased its holdings in Atlanticus by 1,761.6% in the first quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider’s stock valued at $6,233,000 after buying an additional 112,407 shares during the last quarter. Inspire Investing LLC bought a new stake in Atlanticus in the first quarter valued at about $87,000. Janney Montgomery Scott LLC increased its holdings in Atlanticus by 4.0% in the first quarter. Janney Montgomery Scott LLC now owns 51,629 shares of the credit services provider’s stock valued at $2,709,000 after buying an additional 1,965 shares during the last quarter. Hsbc Holdings PLC bought a new stake in Atlanticus in the fourth quarter valued at about $223,000. Finally, Empowered Funds LLC increased its holdings in Atlanticus by 8.0% in the fourth quarter. Empowered Funds LLC now owns 64,753 shares of the credit services provider’s stock valued at $4,335,000 after buying an additional 4,805 shares during the last quarter. 14.15% of the stock is owned by institutional investors.
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.