Atlanticus (NASDAQ:ATLC) Sees Strong Trading Volume – Time to Buy?

Atlanticus Holdings Corporation (NASDAQ:ATLC) shares saw an uptick in trading volume on Tuesday . 74,260 shares traded hands during trading, a decline of 31% from the previous session’s volume of 108,159 shares.The stock last traded at $99.02 and had previously closed at $100.14.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a report on Sunday. Weiss Ratings upgraded shares of Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Jefferies Financial Group upped their price target on shares of Atlanticus from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. BTIG Research increased their price target on shares of Atlanticus from $105.00 to $179.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Atlanticus in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $126.00.

Atlanticus Trading Up 1.6%

The company has a market capitalization of $1.50 billion, a PE ratio of 12.89 and a beta of 2.11. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.26 and a current ratio of 1.26. The business has a fifty day moving average price of $100.27 and a 200 day moving average price of $77.73.

Atlanticus (NASDAQ:ATLC) last issued its earnings results on Thursday, August 6th. The credit services provider reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.08. The business had revenue of $744.31 million during the quarter, compared to analysts’ expectations of $716.35 million. Atlanticus had a return on equity of 25.17% and a net margin of 5.80%. Analysts expect that Atlanticus Holdings Corporation will post 9.48 EPS for the current fiscal year.

Insider Buying and Selling at Atlanticus

In other Atlanticus news, CAO Mitchell Saunders sold 10,000 shares of Atlanticus stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $102.20, for a total transaction of $1,022,000.00. Following the transaction, the chief accounting officer directly owned 46,273 shares of the company’s stock, valued at $4,729,100.60. The trade was a 17.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey A. Howard sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $103.01, for a total transaction of $1,030,100.00. Following the sale, the chief executive officer owned 663,265 shares of the company’s stock, valued at approximately $68,322,927.65. This represents a 1.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 75,000 shares of company stock valued at $7,868,627. 51.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Atlanticus

A number of institutional investors have recently added to or reduced their stakes in the business. Financial Management Professionals Inc. purchased a new position in Atlanticus in the second quarter valued at about $33,000. Advisory Services Network LLC acquired a new stake in shares of Atlanticus in the third quarter valued at about $47,000. Jones Financial Companies Lllp acquired a new stake in shares of Atlanticus in the first quarter valued at about $71,000. State of Alaska Department of Revenue purchased a new stake in shares of Atlanticus during the 4th quarter valued at about $105,000. Finally, Inspire Investing LLC purchased a new stake in shares of Atlanticus during the 1st quarter valued at about $87,000. 14.15% of the stock is owned by hedge funds and other institutional investors.

Atlanticus Company Profile

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.