JMP Securities Begins Coverage on Atlanticus (NASDAQ:ATLC)

Analysts at JMP Securities started coverage on shares of Atlanticus (NASDAQ:ATLC) in a research report issued on Tuesday, September 21st, Price Targets.com reports. The firm set an “outperform” rating on the credit services provider’s stock.

Several other research firms also recently issued reports on ATLC. B. Riley upped their price objective on shares of Atlanticus from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, August 17th. Zacks Investment Research cut Atlanticus from a “buy” rating to a “hold” rating in a research report on Thursday, August 19th. Finally, TheStreet upgraded shares of Atlanticus from a “c+” rating to a “b” rating in a research note on Wednesday, August 4th.

Shares of ATLC traded down $1.76 during trading hours on Tuesday, hitting $51.99. 42,458 shares of the company were exchanged, compared to its average volume of 58,387. Atlanticus has a one year low of $11.20 and a one year high of $65.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.39 and a quick ratio of 1.39. The company has a market capitalization of $860.12 million, a PE ratio of 8.27 and a beta of 1.07. The firm has a fifty day simple moving average of $50.37 and a 200-day simple moving average of $40.50.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings results on Thursday, August 12th. The credit services provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.14. The business had revenue of $182.11 million for the quarter, compared to the consensus estimate of $154.34 million. Atlanticus had a net margin of 25.36% and a return on equity of 125.63%. Sell-side analysts expect that Atlanticus will post 6.36 EPS for the current year.

In related news, CEO Jeffrey A. Howard sold 1,716 shares of the business’s stock in a transaction that occurred on Thursday, July 29th. The shares were sold at an average price of $45.00, for a total value of $77,220.00. Following the completion of the transaction, the chief executive officer now owns 424,180 shares in the company, valued at approximately $19,088,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey A. Howard sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 17th. The shares were sold at an average price of $50.22, for a total transaction of $1,255,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,357 shares of company stock worth $2,172,994. 49.90% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new position in shares of Atlanticus in the 1st quarter valued at approximately $25,000. Advisory Services Network LLC acquired a new stake in shares of Atlanticus during the second quarter worth $79,000. Barclays PLC lifted its position in Atlanticus by 159.0% in the 1st quarter. Barclays PLC now owns 4,219 shares of the credit services provider’s stock valued at $128,000 after acquiring an additional 2,590 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in Atlanticus by 3,796.8% during the 1st quarter. Panagora Asset Management Inc. now owns 4,871 shares of the credit services provider’s stock worth $148,000 after purchasing an additional 4,746 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Atlanticus during the second quarter worth about $230,000. 15.71% of the stock is currently owned by institutional investors.

About Atlanticus

Atlanticus Holdings Corp. is a financial holding company, which engages in the provision of financial technology and related services. It operates through the Credit and Other Investments; and Auto Finance segments. The Credit and Other Investments segment includes point-of-sale and direct-to-consumer finance operations, investments in and servicing of its credit card receivables portfolios, product development, and limited investment in consumer finance technology platforms that capitalize on its credit infrastructure.

Recommended Story: How Important is Technical Analysis of Stocks

Receive News & Ratings for Atlanticus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlanticus and related companies with MarketBeat.com's FREE daily email newsletter.