Atlanticus (NASDAQ:ATLC) Downgraded to Hold Rating by Zacks Research

Key Points

• Zacks Research downgraded Atlanticus from “strong-buy” to “hold,” though the stock still carries a Moderate Buy consensus rating and a consensus price target of $126.
• Atlanticus recently reported Q1 earnings of $2.23 per share, beating expectations, but revenue of $679.59 million came in below estimates.
• Shares were up 1.3% to $97.83, while insiders have been active sellers recently, including the CEO and a major shareholder.

Atlanticus (NASDAQ:ATLC - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

Several other analysts also recently weighed in on ATLC. Wall Street Zen upgraded Atlanticus from a "buy" rating to a "strong-buy" rating in a research note on Sunday, July 5th. B. Riley Financial reiterated a "buy" rating on shares of Atlanticus in a research note on Thursday, May 14th. Citizens Jmp boosted their target price on Atlanticus from $100.00 to $102.00 and gave the stock a "market outperform" rating in a report on Tuesday, March 17th. BTIG Research increased their target price on Atlanticus from $105.00 to $179.00 and gave the stock a "buy" rating in a research note on Tuesday, June 30th. Finally, William Blair set a $100.00 price target on Atlanticus in a report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $126.00.

Atlanticus Stock Up 1.3%

NASDAQ:ATLC opened at $97.83 on Monday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.24 and a quick ratio of 1.24. The firm's 50-day moving average price is $90.34 and its 200-day moving average price is $70.58. The company has a market capitalization of $1.48 billion, a PE ratio of 14.60 and a beta of 2.11. Atlanticus has a 1-year low of $45.74 and a 1-year high of $112.61.

Atlanticus (NASDAQ:ATLC - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The credit services provider reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.69 by $0.54. Atlanticus had a net margin of 5.86% and a return on equity of 23.43%. The company had revenue of $679.59 million during the quarter, compared to analysts' expectations of $749.36 million. On average, equities analysts predict that Atlanticus will post 9.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other Atlanticus news, 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 sale, the insider directly owned 259,392 shares in the company, valued at approximately $27,044,209.92. This trade represents a 5.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey A. Howard sold 10,000 shares of the business's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $103.01, for a total value of $1,030,100.00. Following the completion of the transaction, the chief executive officer owned 663,265 shares of the company's stock, valued at $68,322,927.65. This represents a 1.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 75,000 shares of company stock valued at $7,868,627. Insiders own 51.00% of the company's stock.

Hedge Funds Weigh In On Atlanticus

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Range Financial Group LLC boosted its stake in shares of Atlanticus by 5.8% during 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 during the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Atlanticus during the 2nd quarter valued at $33,000. Price T Rowe Associates Inc. MD increased its stake in shares of Atlanticus by 5.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,194 shares of the credit services provider's stock worth $616,000 after purchasing an additional 478 shares in the last quarter. Jump Financial LLC increased its stake in shares of Atlanticus by 6.1% in the 2nd quarter. Jump Financial LLC now owns 9,344 shares of the credit services provider's stock worth $512,000 after purchasing an additional 537 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Atlanticus by 9.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 7,783 shares of the credit services provider's stock worth $521,000 after purchasing an additional 681 shares during the period. 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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