Atlanticus (NASDAQ:ATLC) Hits New 52-Week High – Here’s What Happened

Shares of Atlanticus Holdings Corporation (NASDAQ:ATLC) hit a new 52-week high on Friday . The stock traded as high as $93.27 and last traded at $91.5080, with a volume of 36743 shares trading hands. The stock had previously closed at $91.18.

Analysts Set New Price Targets

Several research firms recently issued reports on ATLC. Zacks Research raised shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a report on Monday, April 20th. Wall Street Zen raised shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Texas Capital raised shares of Atlanticus to a “hold” rating in a report on Wednesday. Weiss Ratings cut shares of Atlanticus from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Finally, William Blair set a $100.00 target price on shares of Atlanticus in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.25.

Atlanticus Stock Up 3.1%

The stock’s 50-day moving average is $76.01 and its 200-day moving average is $64.64. The stock has a market cap of $1.42 billion, a P/E ratio of 13.97 and a beta of 2.14. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.08.

Atlanticus (NASDAQ:ATLC) last announced its earnings results on Thursday, May 7th. The credit services provider reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.54. The firm had revenue of $679.59 million during the quarter, compared to analyst estimates of $749.36 million. Atlanticus had a net margin of 5.86% and a return on equity of 23.43%. As a group, research analysts anticipate that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current fiscal year.

Institutional Trading of Atlanticus

Hedge funds have recently bought and sold shares of the company. Denali Advisors LLC lifted its stake in Atlanticus by 83.8% during the fourth quarter. Denali Advisors LLC now owns 15,222 shares of the credit services provider’s stock valued at $1,019,000 after buying an additional 6,941 shares in the last quarter. UBS Group AG raised its position in Atlanticus by 333.2% during the fourth quarter. UBS Group AG now owns 37,582 shares of the credit services provider’s stock valued at $2,516,000 after acquiring an additional 28,907 shares in the last quarter. Los Angeles Capital Management LLC raised its position in Atlanticus by 28.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 31,265 shares of the credit services provider’s stock valued at $2,093,000 after acquiring an additional 6,970 shares in the last quarter. Range Financial Group LLC raised its position in Atlanticus by 5.8% during the first quarter. Range Financial Group LLC now owns 4,526 shares of the credit services provider’s stock valued at $237,000 after acquiring an additional 247 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in Atlanticus by 4.0% during 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 purchasing an additional 1,965 shares during the last quarter. 14.15% of the stock is owned by hedge funds and other institutional investors.

About Atlanticus

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.