Atlanticus Holdings Corporation (NASDAQ:ATLC) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Atlanticus Holdings has a consensus analyst rating of “Moderate Buy”, with five buy ratings, one strong buy, and two hold ratings. The average 1-year price target is $126.00.
• Several analysts recently raised or reaffirmed bullish views, including BTIG Research lifting its target to $179.00 and Zacks Research upgrading the stock to strong-buy. HSBC and William Blair also set price targets of $144.00 and $100.00, respectively.
• Insider activity was notably negative, with the CAO and CFO each selling 10,000 shares in late June, and insiders selling 75,000 shares worth about $7.9 million in the last quarter. Despite this, institutional ownership remains meaningful at 14.15%.

Atlanticus Holdings Corporation (NASDAQ:ATLC - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eight ratings firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $126.00.

Several research analysts have recently weighed in on the company. BTIG Research increased their price target on Atlanticus from $105.00 to $179.00 and gave the stock a "buy" rating in a research note on Tuesday, June 30th. HSBC set a $144.00 price objective on shares of Atlanticus in a report on Monday. William Blair set a $100.00 target price on shares of Atlanticus in a research report on Wednesday, June 10th. B. Riley Financial reiterated a "buy" rating on shares of Atlanticus in a research note on Thursday, May 14th. Finally, Zacks Research raised shares of Atlanticus from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 20th.

Insider Buying and Selling at Atlanticus

In related news, CAO Mitchell Saunders sold 10,000 shares of Atlanticus stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $102.20, for a total value of $1,022,000.00. Following the completion of the transaction, the chief accounting officer directly owned 46,273 shares in the company, valued at approximately $4,729,100.60. The trade was a 17.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William Mccamey sold 10,000 shares of the business's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $103.01, for a total transaction of $1,030,100.00. Following the sale, the chief financial officer directly owned 127,410 shares in the company, valued at $13,124,504.10. The trade was a 7.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 75,000 shares of company stock valued at $7,868,627 in the last quarter. Corporate insiders own 51.00% of the company's stock.

Institutional Trading of Atlanticus

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its holdings in Atlanticus by 54.7% during the 4th quarter. Wellington Management Group LLP now owns 704,282 shares of the credit services provider's stock worth $47,152,000 after purchasing an additional 249,100 shares in the last quarter. Vanguard Group Inc. grew its holdings in Atlanticus by 6.7% during the 3rd quarter. Vanguard Group Inc. now owns 305,772 shares of the credit services provider's stock valued at $17,912,000 after buying an additional 19,159 shares in the last quarter. HB Wealth Management LLC increased its position in shares of 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 buying an additional 112,407 shares during the period. State Street Corp increased its position in shares of Atlanticus by 9.8% during the fourth quarter. State Street Corp now owns 117,071 shares of the credit services provider's stock valued at $7,838,000 after buying an additional 10,409 shares during the period. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of Atlanticus by 0.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 112,147 shares of the credit services provider's stock worth $7,508,000 after buying an additional 805 shares in the last quarter. 14.15% of the stock is currently owned by institutional investors.

Atlanticus Price Performance

Atlanticus stock opened at $96.61 on Tuesday. The business's 50 day simple moving average is $89.94 and its 200 day simple moving average is $70.38. Atlanticus has a 12 month low of $45.74 and a 12 month high of $112.61. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 14.42 and a beta of 2.11. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.08.

Atlanticus (NASDAQ:ATLC - Get Free Report) last released its earnings results on Thursday, May 7th. The credit services provider reported $2.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.69 by $0.54. Atlanticus had a return on equity of 23.43% and a net margin of 5.86%.The business had revenue of $679.59 million during the quarter, compared to the consensus estimate of $749.36 million. Sell-side analysts forecast that Atlanticus will post 9.48 EPS for the current year.

About Atlanticus

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.