Atlanticus (NASDAQ:ATLC) Earns "Buy" Rating from BTIG Research

Key Points

• BTIG Research reaffirmed its “Buy” rating on Atlanticus and set a $179 price target, implying approximately 96.6% upside from the stock’s reported $91.03 price. The consensus analyst rating is “Moderate Buy,” with an average target of $129.
• Atlanticus exceeded quarterly expectations, reporting $2.50 in earnings per share versus a $2.42 consensus estimate and $744.32 million in revenue versus expectations of $716.35 million.
• Insiders sold 75,000 shares worth about $7.9 million over the past 90 days, while institutional investors own 14.15% of the company; insiders retain a significant 51% ownership stake.

Atlanticus (NASDAQ:ATLC - Get Free Report)'s stock had its "buy" rating restated by research analysts at BTIG Research in a research report issued on Tuesday, Benzinga reports. They presently have a $179.00 target price on the credit services provider's stock. BTIG Research's price target would indicate a potential upside of 96.64% from the stock's current price.

Several other brokerages also recently weighed in on ATLC. Texas Capital upgraded shares of Atlanticus from a "hold" rating to a "strong-buy" rating in a report on Monday, July 13th. Capital One Financial set a $144.00 price objective on shares of Atlanticus in a report on Monday, July 13th. Citigroup reiterated an "outperform" rating on shares of Atlanticus in a research note on Thursday, July 16th. Wall Street Zen raised shares of Atlanticus from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, HSBC set a $144.00 target price on shares of Atlanticus in a research report on Monday, July 13th. One 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $129.00.

Atlanticus Stock Performance

Shares of ATLC stock opened at $91.03 on Tuesday. The business has a fifty day moving average of $97.63 and a 200 day moving average of $84.14. Atlanticus has a 1 year low of $47.50 and a 1 year high of $114.34. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 11.84 and a beta of 2.02.

Atlanticus (NASDAQ:ATLC - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The credit services provider reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.08. Atlanticus had a return on equity of 25.17% and a net margin of 5.80%.The business had revenue of $744.32 million for the quarter, compared to the consensus estimate of $716.35 million. As a group, research analysts expect that Atlanticus will post 9.73 earnings per share for the current year.

Insider Activity

In other news, CAO Mitchell Saunders sold 10,000 shares of Atlanticus stock in a transaction that occurred on 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 completion of the transaction, the chief accounting officer directly owned 46,273 shares of the company's stock, valued at $4,729,100.60. The trade was a 17.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 completion of the transaction, the insider owned 259,392 shares of the company's stock, 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. Insiders sold 75,000 shares of company stock worth $7,868,627 over the last 90 days. Company insiders own 51.00% of the company's stock.

Institutional Investors Weigh In On Atlanticus

Several hedge funds have recently modified their holdings of the company. Engineers Gate Manager LP acquired a new position in Atlanticus in the 2nd quarter worth about $669,000. HighTower Advisors LLC acquired a new stake in Atlanticus in the second quarter valued at approximately $418,000. Susquehanna International Group LLP acquired a new stake in Atlanticus in the second quarter valued at approximately $1,500,000. Hsbc Holdings PLC purchased a new stake in shares of Atlanticus in the second quarter valued at approximately $269,000. Finally, Empowered Funds LLC acquired a new position in shares of Atlanticus during the 2nd quarter worth approximately $7,286,000. 14.15% of the stock is owned by hedge funds and other institutional investors.

Atlanticus Company Profile

Atlanticus Holdings Corporation is a financial technology company that provides credit and related financial services to consumers, particularly those who may have limited access to traditional lending products. The company works with merchants, financial institutions and other business partners to offer financing options at the point of sale and through direct-to-consumer channels.

Its consumer finance activities include retail credit programs, private-label and general-purpose credit cards, personal lending products and other installment financing.

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