Atlanticus (NASDAQ:ATLC) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Atlanticus from “buy” to “strong buy.” The stock has a consensus “moderate buy” rating and an average analyst price target of $129.
• Atlanticus reported quarterly EPS of $2.50, exceeding the $2.42 consensus estimate, while revenue of $744.32 million also surpassed expectations.
• Institutional ownership increased, with BlackRock and several other investment firms initiating or expanding positions; institutions now own 14.15% of Atlanticus shares.

Atlanticus (NASDAQ:ATLC - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Sunday, Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Atlanticus in a report on Tuesday, September 8th. Jefferies Financial Group raised their price target on shares of Atlanticus from $100.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Texas Capital upgraded shares of Atlanticus from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 13th. Zacks Research downgraded shares of Atlanticus from a "strong-buy" rating to a "hold" rating in a report on Monday, July 13th. Finally, BTIG Research reiterated a "buy" rating and issued a $179.00 price objective on shares of Atlanticus in a research note on Tuesday, September 22nd. One equities research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $129.00.

Atlanticus Stock Up 2.2%

NASDAQ:ATLC opened at $93.73 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.99. Atlanticus has a twelve month low of $47.50 and a twelve month high of $114.34. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 12.19 and a beta of 1.98. The stock has a fifty day simple moving average of $94.95 and a 200-day simple moving average of $87.56.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.42 by $0.08. Atlanticus had a net margin of 5.80% and a return on equity of 25.17%. The business had revenue of $744.32 million during the quarter, compared to analysts' expectations of $716.35 million. Analysts anticipate that Atlanticus will post 9.73 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ATLC. BlackRock Inc. purchased a new stake in Atlanticus in the 2nd quarter worth $43,535,000. HB Wealth Management LLC lifted its holdings in Atlanticus by 1,761.6% during the first quarter. HB Wealth Management LLC now owns 118,788 shares of the credit services provider's stock valued at $6,233,000 after purchasing an additional 112,407 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new position in Atlanticus during the second quarter valued at $9,161,293. Empowered Funds LLC acquired a new stake in shares of Atlanticus in the second quarter valued at about $7,286,000. Finally, Janney Montgomery Scott LLC grew its position in shares of Atlanticus by 4.0% in the first quarter. Janney Montgomery Scott LLC now owns 51,629 shares of the credit services provider's stock valued at $2,709,000 after purchasing an additional 1,965 shares during the period. Hedge funds and other institutional investors own 14.15% of the company's stock.

About Atlanticus

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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