BTIG Research Issues Positive Forecast for Atlanticus (NASDAQ:ATLC) Stock Price

Atlanticus (NASDAQ:ATLCGet Free Report) had its price objective boosted by equities researchers at BTIG Research from $105.00 to $179.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the credit services provider’s stock. BTIG Research’s price objective indicates a potential upside of 71.67% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Texas Capital raised shares of Atlanticus to a “hold” rating in a research report on Wednesday, June 10th. Wall Street Zen lowered Atlanticus from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings upgraded Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Citizens Jmp lifted their target price on Atlanticus from $100.00 to $102.00 and gave the company a “market outperform” rating in a report on Tuesday, March 17th. Finally, B. Riley Financial reissued a “buy” rating on shares of Atlanticus in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $119.75.

Read Our Latest Stock Analysis on Atlanticus

Atlanticus Stock Down 5.6%

Shares of ATLC opened at $104.27 on Tuesday. The stock has a market capitalization of $1.58 billion, a PE ratio of 15.56 and a beta of 2.14. Atlanticus has a 1 year low of $45.74 and a 1 year high of $112.61. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.24 and a current ratio of 1.24. The company’s 50-day simple moving average is $85.56 and its 200-day simple moving average is $68.21.

Atlanticus (NASDAQ:ATLCGet Free Report) last posted its quarterly earnings data on Thursday, May 7th. The credit services provider reported $2.23 EPS for the quarter, beating the consensus estimate of $1.69 by $0.54. The business had revenue of $679.59 million during the quarter, compared to analyst estimates of $749.36 million. Atlanticus had a net margin of 5.86% and a return on equity of 23.43%. Analysts forecast that Atlanticus will post 9.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO William Mccamey sold 10,000 shares of Atlanticus stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $109.45, for a total value of $1,094,500.00. Following the completion of the transaction, the chief financial officer owned 137,410 shares in the company, valued at $15,039,524.50. The trade was a 6.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey A. Howard sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $109.45, for a total transaction of $1,094,500.00. Following the transaction, the chief executive officer owned 673,265 shares of the company’s stock, valued at $73,688,854.25. This trade represents a 1.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 51.00% of the stock is owned by insiders.

Institutional Trading of Atlanticus

A number of institutional investors have recently bought and sold shares of the business. Royal Bank of Canada boosted its position in shares of Atlanticus by 274.6% during the 1st quarter. Royal Bank of Canada now owns 23,314 shares of the credit services provider’s stock worth $1,193,000 after acquiring an additional 17,091 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Atlanticus during the 1st quarter worth about $1,083,000. Jones Financial Companies Lllp purchased a new stake in Atlanticus during the first quarter worth approximately $71,000. Empowered Funds LLC lifted its stake in Atlanticus by 47.3% during the first quarter. Empowered Funds LLC now owns 38,312 shares of the credit services provider’s stock worth $1,960,000 after purchasing an additional 12,308 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Atlanticus by 241.1% in the second quarter. JPMorgan Chase & Co. now owns 18,039 shares of the credit services provider’s stock valued at $988,000 after purchasing an additional 12,751 shares in the last quarter. 14.15% of the stock is owned by hedge funds and other institutional investors.

Atlanticus Company Profile

(Get Free Report)

Atlanticus Holdings Corporation is a specialty financial services holding company that provides credit products and solutions to consumers across the United States. Through its subsidiaries, the company offers proprietary credit card programs, installment loan products and deposit accounts designed to serve customers who may have limited access to traditional credit. Atlanticus markets its offerings through a variety of channels, including direct‐to‐consumer online platforms, mail order, call centers and partnerships with retail and e-commerce businesses.

The company underwrites and services credit card portfolios under private-label and co-branded agreements, combining technology‐enabled underwriting with tailored customer service.

Further Reading

Analyst Recommendations for Atlanticus (NASDAQ:ATLC)

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