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

Atlanticus Holdings Corporation (NASDAQ:ATLC)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $89.54 and last traded at $90.88, with a volume of 1270 shares traded. The stock had previously closed at $83.14.

Wall Street Analyst Weigh In

ATLC has been the topic of several recent analyst reports. Citizens Jmp lifted their price objective on Atlanticus from $100.00 to $102.00 and gave the company a “market outperform” rating in a report on Tuesday, March 17th. Wall Street Zen raised Atlanticus from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. B. Riley Financial restated a “buy” rating on shares of Atlanticus in a report on Thursday, May 14th. Weiss Ratings raised shares of Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Finally, Zacks Research raised shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $101.67.

Atlanticus Stock Up 2.5%

The firm’s 50-day simple moving average is $68.34 and its 200 day simple moving average is $61.91. 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 has a market capitalization of $1.37 billion, a P/E ratio of 13.54 and a beta of 2.14.

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

Institutional Investors Weigh In On Atlanticus

A number of large investors have recently added to or reduced their stakes in the business. Denali Advisors LLC raised its holdings in Atlanticus by 83.8% in the 4th quarter. Denali Advisors LLC now owns 15,222 shares of the credit services provider’s stock valued at $1,019,000 after acquiring an additional 6,941 shares during the period. UBS Group AG lifted 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 worth $2,516,000 after acquiring an additional 28,907 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Atlanticus during the fourth quarter worth approximately $105,000. Allspring Global Investments Holdings LLC grew its position in shares of Atlanticus by 9.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 7,783 shares of the credit services provider’s stock valued at $521,000 after purchasing an additional 681 shares during the last quarter. Finally, Range Financial Group LLC acquired a new position in shares of Atlanticus in the fourth quarter valued at approximately $286,000. Institutional investors own 14.15% of the company’s stock.

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.