B. Riley Has Bullish Estimate for Atlanticus FY2024 Earnings

Atlanticus Holdings Co. (NASDAQ:ATLC) – Analysts at B. Riley raised their FY2024 earnings per share (EPS) estimates for shares of Atlanticus in a research note issued on Wednesday, November 20th. B. Riley analyst M. Howlett now expects that the credit services provider will post earnings per share of $4.66 for the year, up from their previous forecast of $4.50. B. Riley currently has a “Buy” rating and a $70.00 target price on the stock. The consensus estimate for Atlanticus’ current full-year earnings is $4.41 per share. B. Riley also issued estimates for Atlanticus’ Q4 2024 earnings at $1.31 EPS.

Several other brokerages also recently issued reports on ATLC. Stephens started coverage on shares of Atlanticus in a research note on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 price objective for the company. StockNews.com raised Atlanticus from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. BTIG Research upped their price objective on Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, JMP Securities increased their target price on Atlanticus from $45.00 to $54.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $53.00.

Atlanticus Price Performance

Atlanticus stock opened at $55.16 on Monday. The firm has a market capitalization of $813.06 million, a PE ratio of 12.40 and a beta of 1.92. Atlanticus has a 12-month low of $23.09 and a 12-month high of $56.42. The firm has a 50-day moving average price of $38.83 and a 200-day moving average price of $33.28. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59.

Atlanticus (NASDAQ:ATLC) last issued its quarterly earnings results on Thursday, November 7th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.04. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. The company had revenue of $351.22 million during the quarter, compared to the consensus estimate of $326.64 million.

Insider Activity at Atlanticus

In other news, CAO Mitchell Saunders sold 16,004 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $55.55, for a total value of $889,022.20. Following the completion of the sale, the chief accounting officer now owns 50,973 shares of the company’s stock, valued at approximately $2,831,550.15. This represents a 23.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Deal W. Hudson sold 2,500 shares of Atlanticus stock in a transaction that occurred 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 transaction, the director now directly owns 64,955 shares in the company, valued at approximately $2,036,339.25. The trade was a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,204 shares of company stock worth $1,080,197. Company insiders own 51.80% of the company’s stock.

Institutional Trading of Atlanticus

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its position in shares of Atlanticus by 65.5% during the first quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock valued at $69,000 after buying an additional 920 shares during the last quarter. FMR LLC grew its position in shares of Atlanticus by 393.1% in the 3rd quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock worth $80,000 after buying an additional 1,820 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of Atlanticus by 158.8% during the 3rd quarter. MetLife Investment Management LLC now owns 2,971 shares of the credit services provider’s stock worth $104,000 after acquiring an additional 1,823 shares in the last quarter. Rhumbline Advisers lifted its position in 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 acquiring an additional 690 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in Atlanticus by 9.3% in the second quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock valued at $234,000 after acquiring an additional 704 shares in 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.