B. Riley Financial Issues Positive Forecast for Atlanticus (NASDAQ:ATLC) Stock Price

Key Points

• B. Riley Financial raised Atlanticus’s price target from $111 to $119 and maintained a “buy” rating, implying 22.35% upside from the prior close. Analysts overall assign the stock a “Moderate Buy” consensus rating with a $129 target.
• Atlanticus shares rose 3.7% to $97.26, while the company’s latest quarterly results exceeded expectations with EPS of $2.50 versus $2.42 estimated and revenue of $744.31 million versus $716.35 million expected.
• Insiders sold shares worth approximately $7.87 million over the past 90 days, while institutional ownership stands at 14.15%; several investors, including JPMorgan and Royal Bank of Canada, increased their positions.

Atlanticus (NASDAQ:ATLC - Get Free Report) had its price target lifted by investment analysts at B. Riley Financial from $111.00 to $119.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a "buy" rating on the credit services provider's stock. B. Riley Financial's price target points to a potential upside of 22.35% from the company's previous close.

Other equities analysts have also issued research reports about the company. HSBC set a $144.00 price target on Atlanticus in a research note on Monday, July 13th. Wall Street Zen upgraded shares of Atlanticus from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 16th. BTIG Research raised their target price on shares of Atlanticus from $105.00 to $179.00 and gave the company a "buy" rating in a research report on Tuesday, June 30th. Texas Capital raised shares of Atlanticus from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 13th. Finally, Capital One Financial set a $144.00 price objective on shares of Atlanticus in a research note on Monday, July 13th. 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's stock. According to data from MarketBeat.com, Atlanticus presently has a consensus rating of "Moderate Buy" and a consensus target price of $129.00.

Atlanticus Trading Up 3.7%

Shares of NASDAQ:ATLC traded up $3.44 on Thursday, hitting $97.26. 118,970 shares of the company's stock were exchanged, compared to its average volume of 109,541. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 12.67 and a beta of 2.02. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.26 and a quick ratio of 1.26. Atlanticus has a 12 month low of $47.50 and a 12 month high of $114.34. The business's 50 day simple moving average is $99.34 and its two-hundred day simple moving average is $80.45.

Atlanticus (NASDAQ:ATLC - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The credit services provider reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.42 by $0.08. The firm had revenue of $744.31 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%. Analysts anticipate that Atlanticus will post 9.48 EPS for the current fiscal year.

Insider Activity

In other news, CAO Mitchell Saunders sold 10,000 shares of the company's stock in a transaction dated 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 transaction, the chief accounting officer owned 46,273 shares in the company, valued at $4,729,100.60. This represents a 17.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Frank J. Hanna III sold 15,676 shares of the stock in a transaction that occurred 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 75,000 shares of company stock valued at $7,868,627 over the last 90 days. 51.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ATLC. Royal Bank of Canada grew its holdings in shares of Atlanticus by 274.6% during the first quarter. Royal Bank of Canada now owns 23,314 shares of the credit services provider's stock valued at $1,193,000 after buying an additional 17,091 shares during the last quarter. AQR Capital Management LLC purchased a new position in Atlanticus in the 1st quarter worth $1,083,000. Jones Financial Companies Lllp acquired a new stake in Atlanticus during the 1st quarter worth about $71,000. Empowered Funds LLC lifted its position in Atlanticus by 47.3% during the 1st quarter. Empowered Funds LLC now owns 38,312 shares of the credit services provider's stock worth $1,960,000 after acquiring an additional 12,308 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Atlanticus by 241.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 18,039 shares of the credit services provider's stock valued at $988,000 after purchasing an additional 12,751 shares during the last quarter. Hedge funds and other institutional investors own 14.15% of the company's stock.

Atlanticus Company Profile

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.

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