Atlanticus (NASDAQ:ATLC) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Shares of Atlanticus Holdings Corporation (NASDAQ:ATLC) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $83.02 and traded as high as $94.05. Atlanticus shares last traded at $93.05, with a volume of 112,633 shares traded.

Analysts Set New Price Targets

A number of research firms recently issued reports on ATLC. B. Riley Financial lifted their price target on shares of Atlanticus from $111.00 to $119.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Texas Capital upgraded shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Zacks Research downgraded shares of Atlanticus from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Jefferies Financial Group lifted their target price on shares of Atlanticus from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Finally, Capital One Financial set a $144.00 target price on shares of Atlanticus in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Atlanticus has a consensus rating of “Moderate Buy” and a consensus price target of $129.00.

Atlanticus Stock Performance

The company has a market cap of $1.44 billion, a PE ratio of 12.38 and a beta of 2.02. 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 firm’s 50 day moving average is $97.93 and its 200-day moving average is $83.30.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings data on Thursday, August 6th. The credit services provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.08. The company had revenue of $744.32 million during the quarter, compared to the consensus estimate of $716.35 million. Atlanticus had a net margin of 5.80% and a return on equity of 25.17%. On average, research analysts anticipate that Atlanticus Holdings Corporation will post 9.73 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Frank J. Hanna III sold 15,676 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $104.26, for a total transaction of $1,634,379.76. Following the completion of the sale, the insider owned 259,392 shares in the company, valued at $27,044,209.92. This trade represents a 5.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO William McCamey sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $103.01, for a total transaction of $1,030,100.00. Following the completion of the sale, the chief financial officer owned 127,410 shares in the company, valued at approximately $13,124,504.10. This trade represents a 7.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 75,000 shares of company stock valued at $7,868,627 in the last ninety days. 51.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ATLC. BlackRock Inc. purchased a new stake in Atlanticus during the 2nd quarter worth approximately $43,535,000. HB Wealth Management LLC increased its position 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 acquiring an additional 112,407 shares during the period. Philadelphia Financial Management of San Francisco LLC purchased a new position in Atlanticus in the second quarter valued at $9,161,293. Empowered Funds LLC acquired a new position in Atlanticus during the 2nd quarter worth $7,286,000. Finally, Janney Montgomery Scott LLC increased its holdings in Atlanticus by 4.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 51,629 shares of the credit services provider’s stock worth $2,709,000 after purchasing an additional 1,965 shares during the period. Hedge funds and other institutional investors own 14.15% of the company’s stock.

About Atlanticus

Atlanticus Holdings Corporation is a financial technology company that provides credit and related financial services to consumers, particularly those who may have limited access to traditional lending products. The company works with merchants, financial institutions and other business partners to offer financing options at the point of sale and through direct-to-consumer channels.

Its consumer finance activities include retail credit programs, private-label and general-purpose credit cards, personal lending products and other installment financing.