Atlanticus (NASDAQ:ATLC) Downgraded by Zacks Research to “Hold”

Zacks Research cut shares of Atlanticus (NASDAQ:ATLC) from a strong-buy rating to a hold rating in a report published on Monday morning,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Jefferies Financial Group boosted their price objective on Atlanticus from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Texas Capital upgraded Atlanticus from a “hold” rating to a “strong-buy” rating in a research report on Monday. Capital One Financial set a $144.00 target price on Atlanticus in a research note on Monday. BTIG Research boosted their price target on Atlanticus from $105.00 to $179.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Finally, B. Riley Financial reissued a “buy” rating on shares of Atlanticus in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $126.00.

Atlanticus Trading Up 1.3%

Shares of NASDAQ:ATLC opened at $97.83 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.08. The company’s 50-day moving average price is $90.34 and its 200 day moving average price is $70.58. The company has a market cap of $1.48 billion, a PE ratio of 14.60 and a beta of 2.11. Atlanticus has a fifty-two week low of $45.74 and a fifty-two week high of $112.61.

Atlanticus (NASDAQ:ATLC) last posted its earnings results on Thursday, May 7th. The credit services provider reported $2.23 EPS for the quarter, topping 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 firm had revenue of $679.59 million during the quarter, compared to analysts’ expectations of $749.36 million. Sell-side analysts anticipate that Atlanticus will post 9.48 earnings per share for the current year.

Insider Transactions at Atlanticus

In related news, CFO William Mccamey sold 10,000 shares of Atlanticus stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $103.01, for a total transaction of $1,030,100.00. Following the transaction, the chief financial officer directly owned 127,410 shares of the company’s stock, valued at $13,124,504.10. The trade was a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey A. Howard sold 10,000 shares of Atlanticus stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $103.01, for a total value of $1,030,100.00. Following the transaction, the chief executive officer directly owned 663,265 shares in the company, valued at approximately $68,322,927.65. The trade was a 1.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 75,000 shares of company stock worth $7,868,627. Corporate insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Atlanticus

A number of institutional investors and hedge funds have recently bought and sold shares of ATLC. Range Financial Group LLC boosted its stake in Atlanticus by 5.8% in the 1st quarter. Range Financial Group LLC now owns 4,526 shares of the credit services provider’s stock worth $237,000 after purchasing an additional 247 shares during the period. Financial Management Professionals Inc. acquired a new stake in Atlanticus during the 2nd quarter valued at $33,000. Price T Rowe Associates Inc. MD raised its stake in Atlanticus by 5.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,194 shares of the credit services provider’s stock valued at $616,000 after purchasing an additional 478 shares during the period. Jump Financial LLC lifted its holdings in shares of Atlanticus by 6.1% in the second quarter. Jump Financial LLC now owns 9,344 shares of the credit services provider’s stock valued at $512,000 after purchasing an additional 537 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Atlanticus by 9.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 7,783 shares of the credit services provider’s stock valued at $521,000 after purchasing an additional 681 shares in the last quarter. 14.15% of the stock is owned by institutional investors and hedge funds.

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.