JMP Securities Issues Positive Forecast for Atlanticus (NASDAQ:ATLC) Stock Price

Atlanticus (NASDAQ:ATLC) had its price target increased by JMP Securities from $45.00 to $54.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a market outperform rating on the credit services provider’s stock.

Other equities analysts have also recently issued reports about the company. BTIG Research boosted their target price on Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Stephens began coverage on shares of Atlanticus in a report on Wednesday. They issued an “overweight” rating and a $54.00 price target on the stock. Finally, StockNews.com upgraded shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $48.75.

Atlanticus Price Performance

Shares of Atlanticus stock opened at $48.58 on Wednesday. The company’s fifty day simple moving average is $36.69 and its two-hundred day simple moving average is $32.36. Atlanticus has a 12-month low of $23.09 and a 12-month high of $49.53. The firm has a market cap of $716.07 million, a PE ratio of 10.92 and a beta of 1.92. The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.59.

Atlanticus (NASDAQ:ATLC) last posted its earnings results on Thursday, November 7th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.04. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. The company had revenue of $351.22 million for the quarter, compared to analysts’ expectations of $326.64 million. As a group, equities analysts expect that Atlanticus will post 4.51 EPS for the current year.

Insider Activity

In other news, Director Deal W. Hudson sold 1,200 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $32.75, for a total value of $39,300.00. Following the sale, the director now directly owns 67,455 shares of the company’s stock, valued at $2,209,151.25. This represents a 1.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 51.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Atlanticus

Hedge funds have recently bought and sold shares of the business. FMR LLC lifted its holdings in shares of Atlanticus by 393.1% during the third quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock valued at $80,000 after purchasing an additional 1,820 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Atlanticus by 65.5% during the first quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock valued at $69,000 after buying an additional 920 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in Atlanticus by 158.8% in the third quarter. MetLife Investment Management LLC now owns 2,971 shares of the credit services provider’s stock worth $104,000 after acquiring an additional 1,823 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Atlanticus by 9.3% in the second quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock worth $229,000 after acquiring an additional 690 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Atlanticus by 285.6% during the third quarter. Barclays PLC now owns 8,218 shares of the credit services provider’s stock valued at $289,000 after acquiring an additional 6,087 shares in the last quarter. Institutional investors own 14.15% of the company’s stock.

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.