Atlanticus (NASDAQ:ATLC) Trading 6.6% Higher – Time to Buy?

Atlanticus Holdings Corporation (NASDAQ:ATLCGet Free Report)’s share price traded up 6.6% during mid-day trading on Friday . The company traded as high as $101.69 and last traded at $101.8950. 71,073 shares were traded during trading, a decline of 30% from the average session volume of 101,353 shares. The stock had previously closed at $95.62.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. HSBC set a $144.00 price objective on shares of Atlanticus in a research report on Monday, July 13th. Texas Capital raised shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. William Blair set a $100.00 price target on Atlanticus in a report on Wednesday, June 10th. Finally, Zacks Research downgraded Atlanticus from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Atlanticus currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.00.

Read Our Latest Stock Analysis on ATLC

Atlanticus Trading Up 4.7%

The company has a market cap of $1.51 billion, a price-to-earnings ratio of 14.99 and a beta of 2.11. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.08. The business’s 50 day moving average price is $92.99 and its 200-day moving average price is $72.05.

Atlanticus (NASDAQ:ATLCGet Free Report) last announced its quarterly earnings results on Thursday, May 7th. The credit services provider reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.54. The business had revenue of $679.59 million for 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%. On average, equities analysts anticipate that Atlanticus Holdings Corporation will post 9.48 EPS for the current fiscal year.

Insider Transactions at Atlanticus

In other Atlanticus news, CFO William Mccamey sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $103.01, for a total value of $1,030,100.00. Following the transaction, the chief financial officer directly owned 127,410 shares of the company’s stock, valued at $13,124,504.10. This represents a 7.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Frank J. Hanna III sold 15,676 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $104.26, for a total value of $1,634,379.76. Following the transaction, the insider owned 259,392 shares in the company, valued at $27,044,209.92. The trade was a 5.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 75,000 shares of company stock worth $7,868,627 over the last three months. Company insiders own 51.00% of the company’s stock.

Institutional Trading of Atlanticus

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its position in shares of Atlanticus by 54.7% during the 4th quarter. Wellington Management Group LLP now owns 704,282 shares of the credit services provider’s stock worth $47,152,000 after purchasing an additional 249,100 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Atlanticus by 6.7% in the third quarter. Vanguard Group Inc. now owns 305,772 shares of the credit services provider’s stock valued at $17,912,000 after buying an additional 19,159 shares in the last quarter. HB Wealth Management LLC boosted its stake in shares of Atlanticus by 1,761.6% in the first quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider’s stock valued at $6,233,000 after buying an additional 112,407 shares during the period. State Street Corp boosted its stake in shares of Atlanticus by 9.8% in the fourth quarter. State Street Corp now owns 117,071 shares of the credit services provider’s stock valued at $7,838,000 after buying an additional 10,409 shares during the period. Finally, Bridgeway Capital Management LLC grew its position in Atlanticus by 0.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 112,147 shares of the credit services provider’s stock worth $7,508,000 after buying an additional 805 shares in the last quarter. Institutional investors and hedge funds own 14.15% of the company’s stock.

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.

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