Atlanticus' (ATLC) "Buy" Rating Reaffirmed at BTIG Research

Key Points

• BTIG Research has reaffirmed a "Buy" rating for Atlanticus (ATLC), setting a target price of $84.00, indicating a potential upside of 23.62% from its current price.
• Atlanticus reported earnings of $1.51 per share, exceeding analysts' expectations of $1.30, with revenue reaching $393.82 million for the quarter.
• Institutional investors have been active, with Jane Street Group increasing its stake by 17.9% and other firms also boosting their holdings in Atlanticus during the recent quarter.

Atlanticus (NASDAQ:ATLC - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at BTIG Research in a note issued to investors on Thursday,Benzinga reports. They presently have a $84.00 target price on the credit services provider's stock. BTIG Research's target price suggests a potential upside of 23.62% from the stock's current price.

A number of other equities analysts have also issued reports on ATLC. Wall Street Zen raised Atlanticus from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. JMP Securities raised their price target on Atlanticus from $75.00 to $78.00 and gave the stock a "market outperform" rating in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $69.20.

Atlanticus Stock Performance

NASDAQ ATLC opened at $67.95 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.55. Atlanticus has a 52-week low of $30.60 and a 52-week high of $69.94. The business's 50-day moving average price is $58.65 and its 200 day moving average price is $53.92. The firm has a market cap of $1.03 billion, a P/E ratio of 11.94 and a beta of 2.00.

Atlanticus (NASDAQ:ATLC - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The credit services provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.21. Atlanticus had a return on equity of 24.20% and a net margin of 8.51%.The firm had revenue of $393.82 million for the quarter, compared to analyst estimates of $373.87 million. On average, equities research analysts expect that Atlanticus will post 4.49 earnings per share for the current year.

Insider Buying and Selling at Atlanticus

In related news, Director Deal W. Hudson sold 2,000 shares of Atlanticus stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $62.39, for a total value of $124,780.00. Following the sale, the director directly owned 61,092 shares in the company, valued at $3,811,529.88. The trade was a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 50.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Atlanticus

Several institutional investors have recently modified their holdings of the company. Jane Street Group LLC lifted its stake in Atlanticus by 17.9% in the 4th quarter. Jane Street Group LLC now owns 10,540 shares of the credit services provider's stock valued at $588,000 after buying an additional 1,604 shares in the last quarter. Bank of America Corp DE lifted its stake in Atlanticus by 29.0% in the 4th quarter. Bank of America Corp DE now owns 6,121 shares of the credit services provider's stock valued at $341,000 after buying an additional 1,376 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in Atlanticus in the 4th quarter valued at approximately $548,000. Deutsche Bank AG lifted its stake in Atlanticus by 35.4% in the 4th quarter. Deutsche Bank AG now owns 4,829 shares of the credit services provider's stock valued at $269,000 after buying an additional 1,262 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in Atlanticus in the 4th quarter valued at approximately $987,000. Hedge funds and other institutional investors own 14.15% of the company's stock.

Atlanticus Company Profile

Atlanticus Holdings Corporation, a financial technology company, provides credit and related financial services and products to customers the United States. It operates in two segments, Credit as a Service, and Auto Finance. The Credit as a Service segment originates a range of consumer loan products, such as private label and general purpose credit cards originated by lenders through various channels, including retail and healthcare, direct mail solicitation, digital marketing, and partnerships with third parties; and offers credit to their customers for the purchase of various goods and services, including consumer electronics, furniture, elective medical procedures, healthcare, and home-improvements by partnering with retailers, healthcare providers, and other service providers.

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