Atlanticus (NASDAQ:ATLC) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Atlanticus from “strong buy” to “buy,” while the broader analyst consensus remains “Moderate Buy” with a $129.00 target price.
• Atlanticus recently reported quarterly EPS of $2.50, exceeding the $2.42 estimate, and revenue of $744.32 million, above expectations of $716.35 million.
• The stock opened at $91.89, with a market capitalization of approximately $1.39 billion and a 52-week trading range of $47.50 to $114.34; institutional investors own 14.15% of shares.

Atlanticus (NASDAQ:ATLC - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Saturday, Wall Street Zen reports.

Other analysts have also recently issued research reports about the stock. Citigroup restated an "outperform" rating on shares of Atlanticus in a research report on Thursday, July 16th. Capital One Financial set a $144.00 target price on Atlanticus in a research note on Monday, July 13th. Jefferies Financial Group raised their price target on Atlanticus from $100.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. William Blair set a $100.00 price target on Atlanticus in a research note on Wednesday, June 10th. Finally, B. Riley Financial reiterated a "buy" rating on shares of Atlanticus in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $129.00.

Atlanticus Stock Performance

NASDAQ:ATLC opened at $91.89 on Friday. The stock has a market cap of $1.39 billion, a P/E ratio of 11.95 and a beta of 1.98. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.99. The business's 50-day moving average price is $96.12 and its two-hundred day moving average price is $86.15. Atlanticus has a twelve month low of $47.50 and a twelve month high of $114.34.

Atlanticus (NASDAQ:ATLC - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The credit services provider reported $2.50 EPS for the quarter, topping the consensus estimate of $2.42 by $0.08. The company had revenue of $744.32 million during the quarter, compared to analyst estimates of $716.35 million. Atlanticus had a return on equity of 25.17% and a net margin of 5.80%. As a group, equities analysts predict that Atlanticus will post 9.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlanticus

A number of hedge funds have recently modified their holdings of the company. Financial Management Professionals Inc. purchased a new stake in shares of Atlanticus during the second quarter worth about $33,000. Inspire Investing LLC purchased a new position in Atlanticus during the 1st quarter valued at about $87,000. Walleye Capital LLC purchased a new position in Atlanticus during the 2nd quarter valued at about $208,000. Range Financial Group LLC raised its position in Atlanticus by 5.8% during the 1st quarter. Range Financial Group LLC now owns 4,526 shares of the credit services provider's stock valued at $237,000 after purchasing an additional 247 shares during the last quarter. Finally, Jupiter Topco LLC purchased a new stake in Atlanticus in the 2nd quarter worth approximately $255,000. Hedge funds and other institutional investors own 14.15% of the company's stock.

Atlanticus Company Profile

Atlanticus Holdings Corporation NASDAQ: ATLC is a financial technology company that develops and provides credit and related financial products for consumers who may have limited access to traditional banking services. The company works with financial institution partners and merchants to deliver credit solutions through digital and point-of-sale channels.

Atlanticus' offerings include revolving credit products, point-of-sale financing, personal loan solutions and automotive finance programs.

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