Atlanticus (NASDAQ:ATLC) Hits New 1-Year High – Here’s What Happened

Atlanticus Holdings Corporation (NASDAQ:ATLC)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $104.50 and last traded at $104.3850, with a volume of 140551 shares traded. The stock had previously closed at $101.36.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ATLC shares. Texas Capital raised shares of Atlanticus to a “hold” rating in a report on Wednesday, June 10th. B. Riley Financial reissued a “buy” rating on shares of Atlanticus in a report on Thursday, May 14th. Citizens Jmp boosted their price target on Atlanticus from $100.00 to $102.00 and gave the company a “market outperform” rating in a research report on Tuesday, March 17th. William Blair set a $100.00 price objective on Atlanticus in a research note on Wednesday, June 10th. Finally, Zacks Research raised Atlanticus from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. One investment 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 company’s stock. Based on data from MarketBeat, Atlanticus currently has an average rating of “Moderate Buy” and an average price target of $101.25.

Atlanticus Stock Performance

The company has a market cap of $1.64 billion, a PE ratio of 16.16 and a beta of 2.14. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s 50-day simple moving average is $83.97 and its 200 day simple moving average is $67.54.

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

Hedge Funds Weigh In On Atlanticus

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Denali Advisors LLC boosted its position in shares of Atlanticus by 83.8% during the 4th quarter. Denali Advisors LLC now owns 15,222 shares of the credit services provider’s stock worth $1,019,000 after purchasing an additional 6,941 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Atlanticus by 28.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 31,265 shares of the credit services provider’s stock worth $2,093,000 after purchasing an additional 6,970 shares during the period. UBS Group AG increased its holdings in shares of Atlanticus by 333.2% in the 4th quarter. UBS Group AG now owns 37,582 shares of the credit services provider’s stock valued at $2,516,000 after purchasing an additional 28,907 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Atlanticus by 11.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,701 shares of the credit services provider’s stock valued at $471,000 after purchasing an additional 918 shares in the last quarter. Finally, Range Financial Group LLC lifted its stake in shares of Atlanticus by 5.8% in the first quarter. Range Financial Group LLC now owns 4,526 shares of the credit services provider’s stock valued at $237,000 after purchasing an additional 247 shares during the period. Institutional investors and hedge funds 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.