B. Riley Estimates Atlanticus’ FY2024 Earnings (NASDAQ:ATLC)

Atlanticus Holdings Co. (NASDAQ:ATLC) – Equities research analysts at B. Riley lifted their FY2024 EPS estimates for shares of Atlanticus in a research report issued to clients and investors on Wednesday, November 20th. B. Riley analyst M. Howlett now forecasts that the credit services provider will post earnings per share of $4.66 for the year, up from their prior estimate of $4.50. B. Riley has a “Buy” rating and a $70.00 price objective on the stock. The consensus estimate for Atlanticus’ current full-year earnings is $4.47 per share. B. Riley also issued estimates for Atlanticus’ Q4 2024 earnings at $1.31 EPS.

Atlanticus (NASDAQ:ATLC) last posted its quarterly earnings results on Thursday, November 7th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.04. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. The company had revenue of $351.22 million during the quarter, compared to analyst estimates of $326.64 million.

A number of other equities analysts have also issued reports on the stock. StockNews.com raised shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. BTIG Research lifted their target price on shares of Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Stephens initiated coverage on shares of Atlanticus in a report on Wednesday, November 13th. They set an “overweight” rating and a $54.00 target price for the company. Finally, JMP Securities lifted their target price on shares of Atlanticus from $45.00 to $54.00 and gave the company a “market outperform” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $53.00.

Atlanticus Stock Performance

ATLC opened at $57.22 on Monday. Atlanticus has a 12-month low of $23.09 and a 12-month high of $57.93. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $843.42 million, a PE ratio of 12.86 and a beta of 1.92. The firm has a 50 day moving average of $39.34 and a two-hundred day moving average of $33.47.

Institutional Investors Weigh In On Atlanticus

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Atlanticus by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider’s stock worth $7,655,000 after purchasing an additional 2,453 shares during the last quarter. Geode Capital Management LLC boosted its stake in Atlanticus by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 122,501 shares of the credit services provider’s stock worth $4,298,000 after purchasing an additional 2,348 shares during the last quarter. State Street Corp boosted its stake in Atlanticus by 2.4% during the 3rd quarter. State Street Corp now owns 93,431 shares of the credit services provider’s stock worth $3,278,000 after purchasing an additional 2,212 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Atlanticus during the 3rd quarter worth $1,654,000. Finally, Empowered Funds LLC boosted its stake in Atlanticus by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 16,978 shares of the credit services provider’s stock worth $596,000 after purchasing an additional 804 shares during the last quarter. Hedge funds and other institutional investors own 14.15% of the company’s stock.

Insider Buying and Selling

In related news, Director Denise M. Harrod sold 1,141 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $49.00, for a total value of $55,909.00. Following the completion of the sale, the director now owns 5,659 shares of the company’s stock, valued at approximately $277,291. The trade was a 16.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Deal W. Hudson sold 2,500 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $31.35, for a total transaction of $78,375.00. Following the completion of the sale, the director now directly owns 64,955 shares of the company’s stock, valued at approximately $2,036,339.25. The trade was a 3.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,204 shares of company stock valued at $1,080,197. 51.80% of the stock is owned by corporate insiders.

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.