Atlanticus (NASDAQ:ATLC) Raised to “Hold” at Texas Capital

Atlanticus (NASDAQ:ATLC) was upgraded by stock analysts at Texas Capital to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. B. Riley Financial restated a “buy” rating on shares of Atlanticus in a research report on Thursday, May 14th. Zacks Research upgraded shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. William Blair set a $100.00 price objective on shares of Atlanticus in a research report on Wednesday. Wall Street Zen upgraded shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings lowered shares of Atlanticus from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $101.25.

Atlanticus Stock Performance

NASDAQ:ATLC opened at $91.18 on Wednesday. Atlanticus has a twelve month low of $45.74 and a twelve month high of $93.21. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.08. The company has a 50-day moving average of $76.01 and a 200-day moving average of $64.64. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 13.61 and a beta of 2.14.

Atlanticus (NASDAQ:ATLC) last posted its quarterly earnings data 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. Atlanticus had a net margin of 5.86% and a return on equity of 23.43%. The company had revenue of $679.59 million during the quarter, compared to analyst estimates of $749.36 million. Analysts forecast that Atlanticus will post 9.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings in shares of Atlanticus by 18.1% in the first quarter. Bank of America Corp DE now owns 6,280 shares of the credit services provider’s stock worth $330,000 after buying an additional 963 shares during the period. Empowered Funds LLC boosted its holdings in shares of Atlanticus by 7.0% during the first quarter. Empowered Funds LLC now owns 69,309 shares of the credit services provider’s stock worth $3,637,000 after purchasing an additional 4,556 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Atlanticus by 11.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,701 shares of the credit services provider’s stock worth $471,000 after purchasing an additional 918 shares during the period. Range Financial Group LLC boosted its holdings in shares of Atlanticus by 5.8% during the first quarter. Range Financial Group LLC now owns 4,526 shares of the credit services provider’s stock worth $237,000 after purchasing an additional 247 shares during the period. Finally, HB Wealth Management LLC boosted its holdings in shares of Atlanticus by 1,761.6% during the first quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider’s stock worth $6,233,000 after purchasing an additional 112,407 shares during the period. 14.15% of the stock is currently owned by institutional investors and hedge funds.

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.