Atlanticus (NASDAQ:ATLC) Downgraded by Wall Street Zen to “Buy”

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

A number of other brokerages also recently commented on ATLC. Zacks Research downgraded Atlanticus from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 13th. William Blair set a $100.00 price objective on Atlanticus in a research report on Wednesday, June 10th. BTIG Research upped their price objective on Atlanticus from $105.00 to $179.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. HSBC set a $144.00 price objective on Atlanticus in a research note on Monday, July 13th. Finally, Citigroup reiterated an “outperform” rating on shares of Atlanticus in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.00.

Atlanticus Trading Down 3.7%

Shares of ATLC stock opened at $93.13 on Friday. Atlanticus has a 52-week low of $47.50 and a 52-week high of $114.34. 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 company has a 50-day simple moving average of $98.76 and a two-hundred day simple moving average of $80.85. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 12.11 and a beta of 2.02.

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

Insider Transactions at Atlanticus

In related news, CAO Mitchell Saunders sold 10,000 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $102.20, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Frank J. Hanna III sold 15,676 shares of the stock in a transaction dated 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 transaction, the insider owned 259,392 shares of the company’s stock, valued at $27,044,209.92. This represents a 5.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 75,000 shares of company stock worth $7,868,627 over the last quarter. 51.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Atlanticus

Several hedge funds and other institutional investors have recently modified their holdings of the business. Range Financial Group LLC boosted its holdings 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 buying an additional 247 shares during the period. Financial Management Professionals Inc. bought a new stake in Atlanticus during the 2nd quarter valued at $33,000. Price T Rowe Associates Inc. MD raised its holdings 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 acquiring an additional 478 shares during the period. Jump Financial LLC raised its holdings in Atlanticus by 6.1% during the 2nd quarter. Jump Financial LLC now owns 9,344 shares of the credit services provider’s stock valued at $512,000 after acquiring an additional 537 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in shares of Atlanticus during the third quarter worth $47,000. Institutional investors 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.