Atlanticus (NASDAQ:ATLC) Price Target Raised to $102.00
by Scott Moore · The Cerbat GemAtlanticus (NASDAQ:ATLC – Free Report) had its price objective upped by Citizens Jmp from $100.00 to $102.00 in a research report report published on Tuesday morning,Benzinga reports. Citizens Jmp currently has a market outperform rating on the credit services provider’s stock.
Several other research firms have also recently issued reports on ATLC. Citigroup restated an “outperform” rating on shares of Atlanticus in a research report on Thursday, December 11th. Wall Street Zen upgraded shares of Atlanticus from a “hold” rating to a “buy” rating in a report on Saturday, March 14th. B. Riley Financial started coverage on shares of Atlanticus in a research note on Wednesday, January 7th. They issued a “buy” rating and a $90.00 price target for the company. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Atlanticus in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Atlanticus has a consensus rating of “Moderate Buy” and a consensus target price of $89.25.
Check Out Our Latest Stock Analysis on ATLC
Atlanticus Price Performance
ATLC stock opened at $53.84 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.23 and a quick ratio of 1.23. The business has a 50 day simple moving average of $55.17 and a 200-day simple moving average of $59.36. The firm has a market capitalization of $803.29 million, a PE ratio of 9.03 and a beta of 1.95. Atlanticus has a 1 year low of $41.37 and a 1 year high of $78.91.
Atlanticus (NASDAQ:ATLC – Get Free Report) last issued its earnings results on Thursday, March 12th. The credit services provider reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $691.81 million. Atlanticus had a return on equity of 22.39% and a net margin of 6.21%. Equities research analysts anticipate that Atlanticus will post 4.49 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Deal W. Hudson sold 1,675 shares of the business’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $59.72, for a total value of $100,031.00. Following the sale, the director directly owned 60,467 shares in the company, valued at approximately $3,611,089.24. The trade was a 2.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 50.40% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its holdings in Atlanticus by 468.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 69,298 shares of the credit services provider’s stock valued at $3,794,000 after purchasing an additional 57,103 shares during the last quarter. American Century Companies Inc. lifted its stake in Atlanticus by 25.8% during the second quarter. American Century Companies Inc. now owns 120,071 shares of the credit services provider’s stock worth $6,574,000 after purchasing an additional 24,595 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Atlanticus during the second quarter worth $451,000. Sierra Summit Advisors LLC purchased a new position in shares of Atlanticus during the second quarter worth $662,000. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Atlanticus in the second quarter valued at $667,000. Hedge funds and other institutional investors 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.