Atlanticus (NASDAQ:ATLC) Hits New 1-Year High - Here's What Happened

Key Points

• 52-week high: Atlanticus (ATLC) rose to a new 52-week high of $79.00 (last $79.1170) on Friday with about 35,700 shares traded, amid multiple analyst upgrades and raised price targets — the consensus target is $91.25 and the average rating is "Moderate Buy".
• Quarterly beat and solid metrics: Atlanticus reported Q results topping estimates with EPS $1.75 vs. $1.65 expected and revenue $734.39M vs. $691.81M, and shows a P/E of 13.2, ROE of 22.39%, and a $1.17B market cap.

Atlanticus Holdings Corporation (NASDAQ:ATLC - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $79.00 and last traded at $79.1170, with a volume of 35697 shares changing hands. The stock had previously closed at $76.22.

Analyst Ratings Changes

ATLC has been the subject of several research reports. Zacks Research upgraded shares of Atlanticus from a "hold" rating to a "strong-buy" rating in a research report on Monday. Weiss Ratings reiterated a "hold (c-)" rating on shares of Atlanticus in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Atlanticus from a "buy" rating to a "strong-buy" rating in a research report on Saturday, April 11th. Citizens Jmp upped their price target on shares of Atlanticus from $100.00 to $102.00 and gave the company a "market outperform" rating in a research report on Tuesday, March 17th. Finally, B. Riley Financial upped their price target on shares of Atlanticus from $90.00 to $98.00 and gave the company a "buy" rating in a research report on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $91.25.

Atlanticus Stock Performance

The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 13.20 and a beta of 1.88. The stock's 50 day moving average price is $57.39 and its two-hundred day moving average price is $58.40.

Atlanticus (NASDAQ:ATLC - Get Free Report) last posted its quarterly earnings results on Thursday, March 12th. The credit services provider reported $1.75 earnings per share for the quarter, topping analysts' consensus estimates of $1.65 by $0.10. Atlanticus had a net margin of 6.21% and a return on equity of 22.39%. The business had revenue of $734.39 million for the quarter, compared to analysts' expectations of $691.81 million. On average, analysts forecast that Atlanticus Holdings Corporation will post 8.48 EPS for the current year.

Hedge Funds Weigh In On Atlanticus

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

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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