Atlanticus (NASDAQ:ATLC) Upgraded to "Strong-Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Atlanticus from “buy” to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $129.
• Atlanticus exceeded quarterly expectations, reporting $2.50 in EPS versus $2.42 expected and revenue of $744.32 million versus the $716.35 million consensus estimate.
• The stock opened at $93.02, with a $1.41 billion market capitalization and a 52-week range of $47.50 to $114.34. Insiders sold 75,000 shares worth approximately $7.87 million over the last quarter, while insiders retain a 51% ownership stake.

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

Other equities analysts have also issued research reports about the company. B. Riley Financial upped their price target on Atlanticus from $111.00 to $119.00 and gave the company a "buy" rating in a research note on Thursday, September 3rd. Texas Capital raised Atlanticus from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 13th. Jefferies Financial Group raised their target price on shares of Atlanticus from $100.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Atlanticus in a research report on Tuesday, September 8th. Finally, Citigroup reissued an "outperform" rating on shares of Atlanticus in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $129.00.

Atlanticus Price Performance

Shares of NASDAQ ATLC opened at $93.02 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.26 and a current ratio of 1.26. Atlanticus has a one year low of $47.50 and a one year high of $114.34. The firm has a market cap of $1.41 billion, a PE ratio of 12.10 and a beta of 2.02. The firm has a fifty day moving average of $97.74 and a 200 day moving average of $83.66.

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

Insider Transactions at Atlanticus

In other Atlanticus news, CAO Mitchell Saunders sold 10,000 shares of the business's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $102.20, for a total transaction of $1,022,000.00. Following the completion of the sale, the chief accounting officer owned 46,273 shares of the company's stock, valued at approximately $4,729,100.60. The trade was a 17.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Frank J. Hanna III sold 15,676 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $104.26, for a total transaction of $1,634,379.76. Following the completion of the sale, the insider directly owned 259,392 shares of the company's stock, valued at $27,044,209.92. The trade was a 5.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 75,000 shares of company stock valued at $7,868,627. Company insiders own 51.00% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ATLC. Range Financial Group LLC grew its position in shares of Atlanticus by 5.8% in the 1st quarter. Range Financial Group LLC now owns 4,526 shares of the credit services provider's stock worth $237,000 after acquiring an additional 247 shares in the last quarter. Financial Management Professionals Inc. bought a new position in shares of Atlanticus in the second quarter valued at approximately $33,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Atlanticus by 11.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,701 shares of the credit services provider's stock valued at $471,000 after buying an additional 918 shares during the period. Bank of America Corp DE grew its position in Atlanticus by 18.1% in the first quarter. Bank of America Corp DE now owns 6,280 shares of the credit services provider's stock worth $330,000 after buying an additional 963 shares during the last quarter. Finally, Inspire Investing LLC purchased a new stake in shares of Atlanticus during the first quarter valued at $87,000. 14.15% of the stock is currently owned by institutional investors.

About Atlanticus

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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