Atlanticus (NASDAQ:ATLC) Sees Strong Trading Volume – Should You Buy?
by Michael Walen · The Markets DailyAtlanticus Holdings Corporation (NASDAQ:ATLC – Get Free Report) shares saw an uptick in trading volume on Tuesday . 147,037 shares traded hands during trading, an increase of 79% from the previous session’s volume of 82,289 shares.The stock last traded at $102.2950 and had previously closed at $99.52.
Wall Street Analyst Weigh In
A number of research firms recently commented on ATLC. William Blair set a $100.00 target price on shares of Atlanticus in a research note on Wednesday, June 10th. Weiss Ratings upgraded shares of Atlanticus from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. B. Riley Financial reaffirmed a “buy” rating on shares of Atlanticus in a report on Thursday, May 14th. Zacks Research upgraded shares of Atlanticus from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 20th. Finally, Wall Street Zen raised Atlanticus from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.25.
Get Our Latest Stock Report on ATLC
Atlanticus Trading Up 3.1%
The stock has a market cap of $1.58 billion, a PE ratio of 15.60 and a beta of 2.14. The company’s fifty day moving average is $83.17 and its 200-day moving average is $67.20. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.24 and a quick ratio of 1.24.
Atlanticus (NASDAQ:ATLC – Get Free Report) last issued its earnings results on Thursday, May 7th. The credit services provider reported $2.23 EPS for the quarter, topping 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 firm had revenue of $679.59 million for the quarter, compared to the consensus estimate of $749.36 million. On average, analysts predict that Atlanticus Holdings Corporation will post 9.48 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Atlanticus
Several large investors have recently made changes to their positions in ATLC. Denali Advisors LLC increased its holdings in Atlanticus by 83.8% in the fourth quarter. Denali Advisors LLC now owns 15,222 shares of the credit services provider’s stock valued at $1,019,000 after buying an additional 6,941 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Atlanticus by 28.7% during the 4th quarter. Los Angeles Capital Management LLC now owns 31,265 shares of the credit services provider’s stock worth $2,093,000 after acquiring an additional 6,970 shares in the last quarter. UBS Group AG grew its position in shares of Atlanticus by 333.2% during the 4th quarter. UBS Group AG now owns 37,582 shares of the credit services provider’s stock valued at $2,516,000 after acquiring an additional 28,907 shares during the period. BNP Paribas Financial Markets grew its position in shares of Atlanticus by 220.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,555 shares of the credit services provider’s stock valued at $325,000 after acquiring an additional 3,820 shares during the period. Finally, Creative Planning purchased a new position in shares of Atlanticus in the 3rd quarter valued at about $303,000. 14.15% of the stock is currently owned by institutional investors and hedge funds.
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.