Atlanticus (NASDAQ:ATLC) Price Target Raised to $54.00 at BTIG Research

Atlanticus (NASDAQ:ATLC) had its target price lifted by BTIG Research from $45.00 to $54.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the credit services provider’s stock.

ATLC has been the topic of a number of other reports. JMP Securities lifted their price target on shares of Atlanticus from $39.00 to $45.00 and gave the company a “market outperform” rating in a research report on Monday, October 14th. StockNews.com raised shares of Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $48.75.

Atlanticus Trading Down 1.3 %

Shares of ATLC stock opened at $48.58 on Tuesday. The stock has a market cap of $716.07 million, a price-to-earnings ratio of 10.92 and a beta of 1.92. The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. Atlanticus has a fifty-two week low of $23.09 and a fifty-two week high of $49.53. The firm’s 50 day moving average price is $36.69 and its two-hundred day moving average price is $32.32.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings results on Thursday, November 7th. The credit services provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.04. The firm had revenue of $351.22 million for the quarter, compared to analysts’ expectations of $326.64 million. Atlanticus had a net margin of 8.39% and a return on equity of 25.14%. On average, analysts anticipate that Atlanticus will post 4.51 EPS for the current year.

Insider Transactions at Atlanticus

In other Atlanticus news, Director Deal W. Hudson sold 1,200 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $32.75, for a total transaction of $39,300.00. Following the completion of the sale, the director now owns 67,455 shares in the company, valued at $2,209,151.25. The trade was a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 51.80% of the company’s stock.

Hedge Funds Weigh In On Atlanticus

Several institutional investors have recently modified their holdings of the company. Barclays PLC lifted its holdings in Atlanticus by 285.6% in the third 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 during the period. Jane Street Group LLC purchased a new stake in Atlanticus during the third quarter valued at about $313,000. Wellington Management Group LLP purchased a new stake in Atlanticus during the third quarter valued at about $1,654,000. State Street Corp lifted its stake in Atlanticus by 2.4% during the third quarter. State Street Corp now owns 93,431 shares of the credit services provider’s stock valued at $3,278,000 after buying an additional 2,212 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings 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. Institutional investors 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.