JMP Securities Forecasts Strong Price Appreciation for Atlanticus (NASDAQ:ATLC) Stock

Atlanticus (NASDAQ:ATLC) had its target price upped by JMP Securities from $45.00 to $54.00 in a research note issued to investors on Wednesday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the credit services provider’s stock.

ATLC has been the subject of several other research reports. StockNews.com raised shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. BTIG Research boosted their price target on shares of Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Stephens started coverage on shares of Atlanticus in a report on Wednesday. They issued an “overweight” rating and a $54.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $48.75.

Atlanticus Stock Performance

Shares of ATLC stock opened at $48.58 on Wednesday. Atlanticus has a 12 month low of $23.09 and a 12 month high of $49.53. The stock has a market capitalization of $716.07 million, a P/E ratio of 10.92 and a beta of 1.92. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average is $36.69 and its 200 day moving average is $32.36.

Atlanticus (NASDAQ:ATLC) last posted its earnings results on Thursday, November 7th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $351.22 million for the quarter, compared to the consensus estimate of $326.64 million. On average, sell-side analysts anticipate that Atlanticus will post 4.51 earnings per share for the current year.

Insider Buying and Selling at Atlanticus

In related news, Director Deal W. Hudson sold 1,200 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $32.75, for a total value of $39,300.00. Following the transaction, the director now owns 67,455 shares of the company’s stock, valued at $2,209,151.25. This represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 51.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Atlanticus

Hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP purchased a new position in shares of Atlanticus during the 3rd quarter valued at about $1,654,000. Jane Street Group LLC purchased a new stake in Atlanticus during the third quarter valued at about $313,000. Barclays PLC grew its stake in shares of Atlanticus by 285.6% during the third quarter. Barclays PLC now owns 8,218 shares of the credit services provider’s stock valued at $289,000 after buying an additional 6,087 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Atlanticus by 1.0% in 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 during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Atlanticus by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 122,501 shares of the credit services provider’s stock valued at $4,298,000 after acquiring an additional 2,348 shares during the last quarter. 14.15% of the stock is currently owned by hedge funds and other institutional investors.

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.