Analysts Set Atlanticus Holdings Corporation (NASDAQ:ATLC) PT at $126.00

Atlanticus Holdings Corporation (NASDAQ:ATLC) has been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $129.00.

ATLC has been the topic of several analyst reports. Capital One Financial set a $144.00 price objective on Atlanticus in a research report on Monday, July 13th. William Blair set a $100.00 target price on Atlanticus in a report on Wednesday, June 10th. B. Riley Financial boosted their price target on Atlanticus from $111.00 to $119.00 and gave the stock a “buy” rating in a research note on Thursday. B Riley reaffirmed a “buy” rating on shares of Atlanticus in a report on Thursday. Finally, Wall Street Zen cut Atlanticus from a “strong-buy” rating to a “buy” rating in a research report on Saturday.

Atlanticus Stock Down 3.7%

NASDAQ:ATLC opened at $93.13 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market cap of $1.41 billion, a P/E ratio of 12.11 and a beta of 2.02. Atlanticus has a fifty-two week low of $47.50 and a fifty-two week high of $114.34. The firm has a 50-day simple moving average of $98.76 and a two-hundred day simple moving average of $80.85.

Atlanticus (NASDAQ:ATLC) last posted its quarterly earnings results on Thursday, August 6th. The credit services provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.42 by $0.08. The firm had revenue of $744.31 million for the quarter, compared to analysts’ expectations of $716.35 million. Atlanticus had a net margin of 5.80% and a return on equity of 25.17%. Analysts predict that Atlanticus will post 9.73 earnings per share for the current fiscal year.

Insider Activity at Atlanticus

In other Atlanticus news, CEO Jeffrey Howard sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $103.01, for a total transaction of $1,030,100.00. Following the transaction, the chief executive officer owned 663,265 shares in the company, valued at approximately $68,322,927.65. This represents a 1.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mitchell Saunders sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $102.20, for a total transaction of $1,022,000.00. Following the sale, the chief accounting officer directly owned 46,273 shares in the company, valued at approximately $4,729,100.60. The trade was a 17.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 75,000 shares of company stock worth $7,868,627 over the last quarter. 51.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Atlanticus

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Atlanticus in the 2nd quarter worth $43,535,000. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of Atlanticus in the second quarter worth $9,161,293. Denali Advisors LLC purchased a new stake in Atlanticus during the second quarter valued at $2,032,000. Susquehanna International Group LLP purchased a new stake in Atlanticus during the second quarter valued at $1,500,000. Finally, HB Wealth Management LLC increased its position in Atlanticus by 1,761.6% during the first quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider’s stock valued at $6,233,000 after acquiring an additional 112,407 shares during the last quarter. Hedge funds and other institutional investors own 14.15% of the company’s stock.

About Atlanticus

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.