Texas Capital Upgrades Atlanticus (NASDAQ:ATLC) to “Hold”

Atlanticus (NASDAQ:ATLC) was upgraded by Texas Capital to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Zacks Research upgraded shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. B. Riley Financial reiterated a “buy” rating on shares of Atlanticus in a research report on Thursday, May 14th. William Blair set a $100.00 price objective on shares of Atlanticus in a research report on Wednesday. Citizens Jmp lifted their price objective on shares of Atlanticus from $100.00 to $102.00 and gave the company a “market outperform” rating in a research report on Tuesday, March 17th. Finally, Weiss Ratings downgraded shares of Atlanticus from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.25.

Atlanticus Price Performance

Shares of ATLC stock opened at $91.18 on Wednesday. The firm has a market cap of $1.38 billion, a P/E ratio of 13.61 and a beta of 2.14. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.24 and a quick ratio of 1.24. Atlanticus has a 1-year low of $45.74 and a 1-year high of $93.21. The firm has a fifty day moving average of $76.01 and a two-hundred day moving average of $64.64.

Atlanticus (NASDAQ:ATLC) last posted its quarterly earnings results on Thursday, May 7th. The credit services provider reported $2.23 EPS for the quarter, beating the consensus estimate of $1.69 by $0.54. Atlanticus had a net margin of 5.86% and a return on equity of 23.43%. The business had revenue of $679.59 million during the quarter, compared to analyst estimates of $749.36 million. As a group, research analysts anticipate that Atlanticus will post 9.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in Atlanticus by 54.7% during the 4th quarter. Wellington Management Group LLP now owns 704,282 shares of the credit services provider’s stock valued at $47,152,000 after purchasing an additional 249,100 shares during the period. HB Wealth Management LLC lifted its position in Atlanticus by 1,761.6% during the 1st quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider’s stock valued at $6,233,000 after purchasing an additional 112,407 shares during the period. Bridgeway Capital Management LLC lifted its position in Atlanticus by 133.5% during the 2nd quarter. Bridgeway Capital Management LLC now owns 93,234 shares of the credit services provider’s stock valued at $5,105,000 after purchasing an additional 53,312 shares during the period. UBS Group AG lifted its position in Atlanticus by 333.2% during the 4th quarter. UBS Group AG now owns 37,582 shares of the credit services provider’s stock valued at $2,516,000 after purchasing an additional 28,907 shares during the period. Finally, AQR Capital Management LLC acquired a new position in Atlanticus during the 1st quarter valued at about $1,083,000. Institutional investors and hedge funds own 14.15% of the company’s stock.

Atlanticus Company Profile

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.