Atlanticus (NASDAQ:ATLC) Rating Reiterated by JMP Securities

Atlanticus (NASDAQ:ATLC)‘s stock had its “market outperform” rating reiterated by research analysts at JMP Securities in a report issued on Wednesday, Benzinga reports. They currently have a $39.00 price objective on the credit services provider’s stock. JMP Securities’ price objective suggests a potential upside of 59.18% from the stock’s previous close.

Separately, StockNews.com lowered shares of Atlanticus from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 10th.

Atlanticus Price Performance

NASDAQ ATLC opened at $24.50 on Wednesday. The firm has a market capitalization of $362.60 million, a price-to-earnings ratio of 5.79 and a beta of 1.84. The company has a 50 day simple moving average of $30.44 and a 200-day simple moving average of $31.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.38 and a quick ratio of 1.38. Atlanticus has a 52-week low of $24.50 and a 52-week high of $43.70.

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

Insider Activity

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

Hedge Funds Weigh In On Atlanticus

Institutional investors have recently modified their holdings of the company. Swiss National Bank grew its stake in shares of Atlanticus by 16.5% in the third quarter. Swiss National Bank now owns 12,700 shares of the credit services provider’s stock worth $385,000 after acquiring an additional 1,800 shares during the last quarter. Simplicity Solutions LLC grew its stake in shares of Atlanticus by 10.5% in the third quarter. Simplicity Solutions LLC now owns 10,760 shares of the credit services provider’s stock worth $326,000 after acquiring an additional 1,024 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Atlanticus in the third quarter worth $30,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Atlanticus in the third quarter worth $282,000. Finally, Barclays PLC grew its stake in shares of Atlanticus by 23.8% in the third 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. Institutional investors own 14.15% of the company’s stock.

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.