Atlanticus (NASDAQ:ATLC) Upgraded to Strong-Buy at B. Riley

B. Riley upgraded shares of Atlanticus (NASDAQ:ATLC) to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

ATLC has been the subject of several other research reports. Stephens started coverage on shares of Atlanticus in a research report on Wednesday, November 13th. They set an “overweight” rating and a $54.00 price target for the company. 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. Finally, BTIG Research lifted their price target on Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $57.20.

Atlanticus Stock Performance

Shares of NASDAQ ATLC opened at $55.98 on Tuesday. The stock has a market capitalization of $825.09 million, a P/E ratio of 12.58 and a beta of 2.05. The firm’s 50-day moving average price is $54.37 and its two-hundred day moving average price is $40.71. Atlanticus has a 52-week low of $23.09 and a 52-week high of $64.70. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59.

Atlanticus (NASDAQ:ATLC) last released its quarterly earnings data on Thursday, November 7th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.04. The business had revenue of $351.22 million during the quarter, compared to analyst estimates of $326.64 million. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. As a group, sell-side analysts forecast that Atlanticus will post 4.47 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Mitchell Saunders sold 16,004 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $55.55, for a total value of $889,022.20. Following the sale, the chief accounting officer now owns 50,973 shares of the company’s stock, valued at approximately $2,831,550.15. The trade was a 23.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Denise M. Harrod sold 1,141 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $49.00, for a total value of $55,909.00. Following the transaction, the director now directly owns 5,659 shares of the company’s stock, valued at $277,291. This represents a 16.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,504 shares of company stock worth $962,522. 51.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Atlanticus

A number of institutional investors and hedge funds have recently modified their holdings of ATLC. Rhumbline Advisers raised its holdings in shares of Atlanticus by 9.3% during the second quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock valued at $229,000 after acquiring an additional 690 shares during the period. Squarepoint Ops LLC grew its position in Atlanticus by 9.3% during the 2nd quarter. Squarepoint Ops LLC now owns 8,310 shares of the credit services provider’s stock worth $234,000 after purchasing an additional 704 shares in the last quarter. Empowered Funds LLC raised its stake in Atlanticus by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 16,978 shares of the credit services provider’s stock valued at $596,000 after purchasing an additional 804 shares during the period. FMR LLC lifted its holdings in shares of Atlanticus by 393.1% in the third quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock valued at $80,000 after purchasing an additional 1,820 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of Atlanticus by 158.8% in the third quarter. MetLife Investment Management LLC now owns 2,971 shares of the credit services provider’s stock worth $104,000 after buying an additional 1,823 shares during the period. Institutional investors and hedge funds 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.