Atlanticus (NASDAQ:ATLC) Upgraded at B. Riley

Atlanticus (NASDAQ:ATLC) was upgraded by investment analysts at B. Riley to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Other analysts have also recently issued reports about the company. BTIG Research raised their target price on Atlanticus from $45.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. JMP Securities raised their price target on Atlanticus from $54.00 to $75.00 and gave the company a “market outperform” rating in a report on Tuesday, December 3rd. Finally, Stephens initiated coverage on shares of Atlanticus in a report on Wednesday, November 13th. They issued an “overweight” rating and a $54.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $57.20.

Atlanticus Stock Performance

Shares of ATLC opened at $55.98 on Tuesday. The firm has a fifty day moving average of $54.37 and a 200-day moving average of $40.71. The company has a market cap of $825.09 million, a price-to-earnings ratio of 12.58 and a beta of 2.05. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. Atlanticus has a 1 year low of $23.09 and a 1 year high of $64.70.

Atlanticus (NASDAQ:ATLC) last posted its earnings results 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. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. The firm had revenue of $351.22 million during the quarter, compared to analyst estimates of $326.64 million. As a group, equities analysts anticipate that Atlanticus will post 4.47 earnings per share for the current year.

Insider Buying and Selling

In other Atlanticus news, CAO Mitchell Saunders sold 16,004 shares of Atlanticus stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $55.55, for a total value 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. The trade was a 23.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Denise M. Harrod sold 1,141 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $49.00, for a total value of $55,909.00. Following the sale, the director now owns 5,659 shares of the company’s stock, valued at $277,291. This trade represents a 16.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,504 shares of company stock valued at $962,522 over the last three months. Company insiders own 51.80% of the company’s stock.

Hedge Funds Weigh In On Atlanticus

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC lifted its stake in Atlanticus by 393.1% during the third quarter. FMR LLC now owns 2,283 shares of the credit services provider’s stock valued at $80,000 after buying an additional 1,820 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Atlanticus by 158.8% during the third quarter. MetLife Investment Management LLC now owns 2,971 shares of the credit services provider’s stock valued at $104,000 after acquiring an additional 1,823 shares during the period. Rhumbline Advisers lifted its position in shares of Atlanticus by 9.3% in the 2nd 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 in the last quarter. Squarepoint Ops LLC boosted its stake in Atlanticus by 9.3% in 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 during the period. Finally, Barclays PLC grew its position in Atlanticus by 285.6% during the 3rd quarter. Barclays PLC now owns 8,218 shares of the credit services provider’s stock worth $289,000 after purchasing an additional 6,087 shares in the last quarter. 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.