Atlanticus (NASDAQ:ATLC) Downgraded to Buy at StockNews.com

StockNews.com downgraded shares of Atlanticus (NASDAQ:ATLC) from a strong-buy rating to a buy rating in a research note released on Wednesday.

Separately, JMP Securities reiterated a market outperform rating and set a $39.00 price objective on shares of Atlanticus in a research report on Wednesday, April 17th.

Atlanticus Trading Up 1.2 %

NASDAQ ATLC opened at $26.76 on Wednesday. Atlanticus has a twelve month low of $23.20 and a twelve month high of $43.70. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market cap of $396.05 million, a price-to-earnings ratio of 6.33 and a beta of 1.84. The firm’s 50 day moving average price is $29.25 and its two-hundred day moving average price is $31.72.

Atlanticus (NASDAQ:ATLC) last posted its quarterly earnings data on Monday, March 4th. The credit services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.14. Atlanticus had a net margin of 8.90% and a return on equity of 27.93%. The firm had revenue of $309.09 million for the quarter, compared to analysts’ expectations of $304.68 million. Equities analysts anticipate that Atlanticus will post 4.85 EPS for the current year.

Insider Activity

In related news, major shareholder Frank J. Hanna III purchased 263,432 shares of the stock in a transaction dated Tuesday, April 9th. The shares were acquired at an average cost of $28.21 per share, for a total transaction of $7,431,416.72. Following the acquisition, the insider now directly owns 263,432 shares in the company, valued at approximately $7,431,416.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Atlanticus news, major shareholder Frank J. Hanna III acquired 263,432 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was purchased at an average cost of $28.21 per share, for a total transaction of $7,431,416.72. Following the completion of the acquisition, the insider now owns 263,432 shares of the company’s stock, valued at approximately $7,431,416.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Deal W. Hudson sold 2,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $30.50, for a total transaction of $61,000.00. Following the completion of the sale, the director now owns 69,855 shares of the company’s stock, valued at $2,130,577.50. The disclosure for this sale can be found here. 52.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atlanticus

A number of large investors have recently bought and sold shares of ATLC. DekaBank Deutsche Girozentrale bought a new stake in Atlanticus in the third quarter worth $30,000. Barclays PLC lifted its position in Atlanticus by 23.8% during the 3rd quarter. Barclays PLC now owns 2,263 shares of the credit services provider’s stock worth $68,000 after acquiring an additional 435 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Atlanticus by 65.5% during the 1st quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock worth $69,000 after acquiring an additional 920 shares during the last quarter. New York State Common Retirement Fund lifted its position in Atlanticus by 62.4% during the 3rd quarter. New York State Common Retirement Fund now owns 6,254 shares of the credit services provider’s stock worth $190,000 after acquiring an additional 2,404 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC acquired a new position in Atlanticus during the 3rd quarter worth $282,000. 14.15% of the stock is currently owned by institutional investors.

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.