Atlanticus (NASDAQ:ATLC) Stock Price Expected to Rise, BTIG Research Analyst Says

Atlanticus (NASDAQ:ATLC) had its target price raised by BTIG Research from $45.00 to $54.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the credit services provider’s stock. BTIG Research’s price objective would indicate a potential upside of 16.93% from the company’s previous close.

Several other research analysts have also commented on the stock. JMP Securities increased their price target on shares of Atlanticus from $39.00 to $45.00 and gave the stock a “market outperform” rating in a research note on Monday, October 14th. StockNews.com raised Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $48.75.

Atlanticus Price Performance

ATLC opened at $46.18 on Tuesday. The stock has a fifty day moving average price of $36.01 and a 200 day moving average price of $32.06. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.59. Atlanticus has a 1 year low of $23.09 and a 1 year high of $46.62. The stock has a market cap of $680.69 million, a price-to-earnings ratio of 10.38 and a beta of 1.92.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings results on Thursday, November 7th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.04. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. The business had revenue of $351.22 million during the quarter, compared to analyst estimates of $326.64 million. Analysts forecast that Atlanticus will post 4.54 EPS for the current fiscal year.

Insider Buying and Selling

In other Atlanticus news, Director Deal W. Hudson sold 2,500 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $31.35, for a total transaction of $78,375.00. Following the completion of the sale, the director now directly owns 64,955 shares in the company, valued at $2,036,339.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Deal W. Hudson sold 1,200 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $32.75, for a total transaction of $39,300.00. Following the transaction, the director now owns 67,455 shares of the company’s stock, valued at approximately $2,209,151.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Deal W. Hudson sold 2,500 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $31.35, for a total transaction of $78,375.00. Following the completion of the sale, the director now directly owns 64,955 shares of the company’s stock, valued at approximately $2,036,339.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 51.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ATLC. Vanguard Group Inc. grew its position in Atlanticus by 1.0% during the first quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider’s stock worth $7,655,000 after buying an additional 2,453 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Atlanticus by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 16,978 shares of the credit services provider’s stock worth $596,000 after acquiring an additional 804 shares during the period. Squarepoint Ops LLC grew its holdings in shares of Atlanticus by 9.3% during the 2nd quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock worth $234,000 after purchasing an additional 704 shares in the last quarter. Rhumbline Advisers increased its position in shares of Atlanticus by 9.3% during the second quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock valued at $229,000 after purchasing an additional 690 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in shares of Atlanticus by 65.5% in the first quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock valued at $69,000 after purchasing an additional 920 shares in the last quarter. Institutional investors and hedge funds own 14.15% of the company’s stock.

About Atlanticus

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.