Atlanticus (NASDAQ:ATLC) Downgraded to “Buy” at StockNews.com

StockNews.com downgraded shares of Atlanticus (NASDAQ:ATLC) from a strong-buy rating to a buy rating in a research note released on Friday morning.

Several other brokerages also recently weighed in on ATLC. Keefe, Bruyette & Woods began coverage on Atlanticus in a research note on Wednesday, May 22nd. They set a market perform rating and a $33.00 target price on the stock. JMP Securities reaffirmed a market outperform rating and set a $39.00 target price on shares of Atlanticus in a research note on Tuesday, May 28th. Finally, BTIG Research began coverage on Atlanticus in a research note on Friday, June 7th. They set a buy rating and a $45.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $39.25.

Atlanticus Trading Down 0.7 %

Shares of NASDAQ ATLC opened at $35.30 on Friday. The company has a market cap of $522.16 million, a price-to-earnings ratio of 8.33 and a beta of 1.88. Atlanticus has a 12-month low of $23.09 and a 12-month high of $40.70. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.48. The stock’s 50 day simple moving average is $29.26 and its 200 day simple moving average is $30.00.

Atlanticus (NASDAQ:ATLC) last announced its earnings results on Friday, May 10th. The credit services provider reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.11. The firm had revenue of $290.17 million for the quarter, compared to the consensus estimate of $309.78 million. Atlanticus had a return on equity of 26.67% and a net margin of 8.67%. Equities research analysts expect that Atlanticus will post 4.52 EPS for the current year.

Insider Transactions at Atlanticus

In other news, Director Deal W. Hudson sold 1,200 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $26.05, for a total value of $31,260.00. Following the sale, the director now owns 68,655 shares of the company’s stock, valued at approximately $1,788,462.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 51.80% of the company’s stock.

Institutional Trading of Atlanticus

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets raised its stake in shares of Atlanticus by 65.5% in the 1st quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock worth $69,000 after buying an additional 920 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Atlanticus by 7.5% in the 1st quarter. Empowered Funds LLC now owns 15,094 shares of the credit services provider’s stock worth $447,000 after buying an additional 1,050 shares in the last quarter. Denali Advisors LLC grew its holdings in shares of Atlanticus by 5.2% in the 1st quarter. Denali Advisors LLC now owns 26,040 shares of the credit services provider’s stock worth $771,000 after acquiring an additional 1,285 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Atlanticus by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 258,689 shares of the credit services provider’s stock worth $7,655,000 after acquiring an additional 2,453 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Atlanticus by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 602,272 shares of the credit services provider’s stock worth $23,290,000 after acquiring an additional 7,234 shares during the last quarter. Institutional investors 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.