Atlanticus (NASDAQ:ATLC) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of Atlanticus (NASDAQ:ATLC) from a strong-buy rating to a buy rating in a research report released on Saturday.

A number of other research firms also recently issued reports on ATLC. BTIG Research lifted their price target on shares of Atlanticus from $105.00 to $179.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Weiss Ratings raised Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. HSBC set a $144.00 price objective on Atlanticus in a report on Monday, July 13th. Zacks Research lowered Atlanticus from a “strong-buy” rating to a “hold” rating in a report on Monday, July 13th. Finally, Citigroup restated an “outperform” rating on shares of Atlanticus in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Atlanticus currently has an average rating of “Moderate Buy” and a consensus price target of $126.00.

Atlanticus Price Performance

Shares of NASDAQ ATLC opened at $95.78 on Friday. The firm has a market capitalization of $1.45 billion, a P/E ratio of 12.46 and a beta of 2.11. Atlanticus has a one year low of $47.50 and a one year high of $114.34. The company’s fifty day moving average is $98.30 and its two-hundred day moving average is $75.63. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.24 and a current ratio of 1.24.

Atlanticus (NASDAQ:ATLC) last announced its quarterly earnings results on Thursday, August 6th. The credit services provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.08. The business had revenue of $744.31 million during the quarter, compared to the consensus estimate of $716.35 million. Atlanticus had a net margin of 5.80% and a return on equity of 26.06%. Analysts forecast that Atlanticus will post 9.48 EPS for the current fiscal year.

Insider Buying and Selling

In other Atlanticus news, major shareholder Frank J. Hanna III sold 15,676 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $104.26, for a total transaction of $1,634,379.76. Following the completion of the transaction, the insider owned 259,392 shares of the company’s stock, valued at approximately $27,044,209.92. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jeffrey A. Howard sold 10,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 663,265 shares of the company’s stock, valued at approximately $68,322,927.65. This trade represents a 1.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 75,000 shares of company stock valued at $7,868,627. 51.00% of the stock is currently owned by company insiders.

Institutional Trading of Atlanticus

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its holdings in Atlanticus by 274.6% in the 1st quarter. Royal Bank of Canada now owns 23,314 shares of the credit services provider’s stock valued at $1,193,000 after purchasing an additional 17,091 shares in the last quarter. AQR Capital Management LLC acquired a new stake in shares of Atlanticus during the 1st quarter worth about $1,083,000. Jones Financial Companies Lllp purchased a new stake in shares of Atlanticus during the first quarter worth about $71,000. Empowered Funds LLC grew its holdings in shares of Atlanticus by 47.3% during the first quarter. Empowered Funds LLC now owns 38,312 shares of the credit services provider’s stock worth $1,960,000 after buying an additional 12,308 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Atlanticus by 241.1% in the second quarter. JPMorgan Chase & Co. now owns 18,039 shares of the credit services provider’s stock valued at $988,000 after buying an additional 12,751 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.