Atlanticus (NASDAQ:ATLC) Upgraded by Texas Capital to Strong-Buy Rating

by · The Markets Daily

Texas Capital upgraded shares of Atlanticus (NASDAQ:ATLC – Free Report) from a hold rating to a strong-buy rating in a report published on Monday morning,Zacks.com reports.

ATLC has been the topic of several other reports. Jefferies Financial Group lifted their price objective on Atlanticus from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Zacks Research raised shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 20th. Wall Street Zen raised Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 5th. HSBC set a $144.00 price objective on Atlanticus in a research note on Monday. Finally, BTIG Research raised their price target on shares of Atlanticus from $105.00 to $179.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $126.00.

View Our Latest Analysis on ATLC

Atlanticus Price Performance

Atlanticus stock opened at $96.61 on Monday. The stock has a market capitalization of $1.46 billion, a P/E ratio of 14.42 and a beta of 2.11. Atlanticus has a 12-month low of $45.74 and a 12-month high of $112.61. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.24 and a quick ratio of 1.24. The firm’s 50-day moving average is $89.94 and its two-hundred day moving average is $70.38.

Atlanticus (NASDAQ:ATLC – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The credit services provider reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.54. Atlanticus had a return on equity of 23.43% and a net margin of 5.86%.The business had revenue of $679.59 million during the quarter, compared to the consensus estimate of $749.36 million. Equities analysts predict that Atlanticus will post 9.48 earnings per share for the current year.

Insider Activity

In related news, CFO William Mccamey sold 10,000 shares of the business’s stock in a transaction that occurred on 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 financial officer directly owned 127,410 shares of the company’s stock, valued at approximately $13,124,504.10. The trade was a 7.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Frank J. Hanna III sold 15,676 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were 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 in the company, valued at approximately $27,044,209.92. This represents a 5.70% 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 valued at $7,868,627. Corporate insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Atlanticus

Several institutional investors and hedge funds have recently modified their holdings of ATLC. Financial Management Professionals Inc. bought a new stake in shares of Atlanticus during the 2nd quarter worth about $33,000. Advisory Services Network LLC bought a new position in shares of Atlanticus in the 3rd quarter valued at approximately $47,000. Jones Financial Companies Lllp acquired a new stake in Atlanticus in the 1st quarter worth approximately $71,000. State of Alaska Department of Revenue bought a new stake in Atlanticus during the fourth quarter worth approximately $105,000. Finally, Inspire Investing LLC acquired a new position in Atlanticus during the first quarter valued at approximately $87,000. Institutional investors and hedge funds own 14.15% of the company’s stock.

About Atlanticus

(Get Free Report)

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.

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