Atlanticus (NASDAQ:ATLC) Trading 7.1% Higher After Earnings Beat

Shares of Atlanticus Holdings Co. (NASDAQ:ATLC) rose 7.1% during trading on Friday following a better than expected earnings announcement. The stock traded as high as $47.16 and last traded at $46.81. Approximately 10,800 shares changed hands during trading, a decline of 82% from the average daily volume of 61,646 shares. The stock had previously closed at $43.71.

The credit services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.19. The business had revenue of $353.19 million for the quarter, compared to the consensus estimate of $355.02 million. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. B. Riley raised shares of Atlanticus to a “strong-buy” rating in a research report on Tuesday, January 7th. JMP Securities upped their target price on shares of Atlanticus from $54.00 to $75.00 and gave the stock a “market outperform” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Atlanticus has an average rating of “Buy” and a consensus target price of $57.20.

Hedge Funds Weigh In On Atlanticus

Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its stake in Atlanticus by 229.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 728 shares of the credit services provider’s stock valued at $41,000 after acquiring an additional 507 shares during the period. Globeflex Capital L P purchased a new stake in Atlanticus in the 4th quarter worth approximately $119,000. FMR LLC increased its holdings in 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 acquiring an additional 1,820 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Atlanticus in the 4th quarter worth approximately $129,000. Finally, State of Tennessee Department of Treasury purchased a new stake in Atlanticus in the 4th quarter worth approximately $143,000. Institutional investors own 14.15% of the company’s stock.

Atlanticus Stock Up 11.3 %

The company has a market capitalization of $716.90 million, a PE ratio of 10.93 and a beta of 2.16. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. The company’s fifty day moving average is $55.55 and its 200-day moving average is $48.29.

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.