Atlanticus (NASDAQ:ATLC) Upgraded by StockNews.com to Strong-Buy

StockNews.com upgraded shares of Atlanticus (NASDAQ:ATLC) from a buy rating to a strong-buy rating in a research report released on Tuesday morning.

Separately, JMP Securities restated a market outperform rating and set a $39.00 price objective on shares of Atlanticus in a report on Wednesday, April 17th.

Atlanticus Stock Performance

NASDAQ ATLC opened at $24.26 on Tuesday. The business’s 50-day moving average price is $29.97 and its 200 day moving average price is $31.82. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.37. Atlanticus has a twelve month low of $23.20 and a twelve month high of $43.70. The company has a market capitalization of $359.05 million, a PE ratio of 5.74 and a beta of 1.84.

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

Insider Buying and Selling

In other Atlanticus news, major shareholder Frank J. Hanna III acquired 263,432 shares of the firm’s stock in a transaction on Tuesday, April 9th. The stock was bought at an average cost of $28.21 per share, for a total transaction of $7,431,416.72. Following the completion of the purchase, the insider now directly owns 263,432 shares in the company, valued at $7,431,416.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Frank J. Hanna III acquired 263,432 shares of the business’s stock in a transaction on Tuesday, April 9th. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $7,431,416.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Deal W. Hudson sold 2,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was 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 in the company, valued at approximately $2,130,577.50. The disclosure for this sale can be found here. Corporate insiders own 52.40% of the company’s stock.

Institutional Trading of Atlanticus

Several large investors have recently bought and sold shares of the company. Simplicity Solutions LLC grew its holdings in Atlanticus by 10.5% during the 3rd quarter. Simplicity Solutions LLC now owns 10,760 shares of the credit services provider’s stock valued at $326,000 after purchasing an additional 1,024 shares in the last quarter. Denali Advisors LLC boosted its position in Atlanticus by 4.2% in the 3rd quarter. Denali Advisors LLC now owns 28,055 shares of the credit services provider’s stock valued at $850,000 after buying an additional 1,122 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Atlanticus by 2.7% during the third quarter. Bank of New York Mellon Corp now owns 50,325 shares of the credit services provider’s stock valued at $1,525,000 after acquiring an additional 1,304 shares in the last quarter. Inspire Investing LLC increased its position in shares of Atlanticus by 59.9% during the third quarter. Inspire Investing LLC now owns 22,176 shares of the credit services provider’s stock worth $672,000 after acquiring an additional 8,305 shares during the last quarter. Finally, Barclays PLC lifted 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 in the last quarter. Institutional investors and hedge funds 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.