Atlanticus (NASDAQ:ATLC) Stock Price Expected to Rise, B. Riley Analyst Says

Atlanticus (NASDAQ:ATLC) had its price target raised by B. Riley from $50.00 to $70.00 in a report issued on Thursday morning,Benzinga reports. They currently have a buy rating on the credit services provider’s stock.

Other equities analysts also recently issued reports about the stock. 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 upped their price objective on Atlanticus from $45.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Stephens assumed coverage on Atlanticus in a research note on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 target price for the company. Finally, JMP Securities boosted their target price on Atlanticus from $45.00 to $54.00 and gave the stock a “market outperform” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $53.00.

Atlanticus Stock Performance

NASDAQ:ATLC opened at $55.16 on Thursday. Atlanticus has a 52-week low of $23.09 and a 52-week high of $56.42. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. The company has a market cap of $813.06 million, a price-to-earnings ratio of 12.40 and a beta of 1.92. The firm’s 50-day moving average is $38.83 and its 200-day moving average is $33.28.

Atlanticus (NASDAQ:ATLC) last issued its earnings results on Thursday, November 7th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.04. The business had revenue of $351.22 million during the quarter, compared to analysts’ expectations of $326.64 million. Atlanticus had a return on equity of 25.14% and a net margin of 8.39%. Equities research analysts anticipate that Atlanticus will post 4.41 earnings per share for the current year.

Insider Buying and Selling at Atlanticus

In other Atlanticus news, CAO Mitchell Saunders sold 16,004 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $55.55, for a total transaction of $889,022.20. Following the transaction, the chief accounting officer now owns 50,973 shares in the company, valued at approximately $2,831,550.15. This trade represents a 23.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Denise M. Harrod sold 1,141 shares of the company’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 completion of the sale, the director now directly owns 5,659 shares of the company’s stock, valued at approximately $277,291. This trade represents a 16.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,204 shares of company stock valued at $1,080,197. 51.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Atlanticus

Several institutional investors and hedge funds have recently made changes to their positions in ATLC. BNP Paribas Financial Markets lifted its holdings in Atlanticus by 65.5% during the first quarter. BNP Paribas Financial Markets now owns 2,324 shares of the credit services provider’s stock worth $69,000 after acquiring an additional 920 shares in the last quarter. FMR LLC lifted its holdings in shares of Atlanticus by 393.1% during the 3rd 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. MetLife Investment Management LLC grew its position in shares of Atlanticus by 158.8% in the 3rd quarter. MetLife Investment Management LLC now owns 2,971 shares of the credit services provider’s stock valued at $104,000 after purchasing an additional 1,823 shares during the period. Rhumbline Advisers increased its stake in Atlanticus by 9.3% during the 2nd quarter. Rhumbline Advisers now owns 8,127 shares of the credit services provider’s stock worth $229,000 after purchasing an additional 690 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings 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 buying an additional 704 shares during the period. Institutional investors and hedge funds own 14.15% of the company’s stock.

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.