Atlanticus (NASDAQ:ATLC) Hits New 1-Year High - What's Next?

Key Points

• Atlanticus Holdings Corporation (NASDAQ:ATLC) recently achieved a new 52-week high of $72.60, closing up from the previous $67.95, with notable trading volume of 5784 shares.
• Analysts maintain a positive outlook on the stock, with consensus ratings showing one Strong Buy, three Buy, and one Hold, along with price targets reaching up to $84.00.
• The company reported a quarterly earnings of $1.51 EPS, surpassing estimates, and announced a quarterly dividend of $0.4766 per share, reflecting a 2.6% yield.

Atlanticus Holdings Corporation (NASDAQ:ATLC - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $71.89 and last traded at $72.60, with a volume of 5784 shares. The stock had previously closed at $67.95.

Analysts Set New Price Targets

A number of analysts have issued reports on ATLC shares. JMP Securities reaffirmed a "market outperform" rating and issued a $78.00 price objective on shares of Atlanticus in a research note on Friday. BTIG Research reaffirmed a "buy" rating and issued a $84.00 price objective on shares of Atlanticus in a research note on Thursday. Finally, Wall Street Zen downgraded Atlanticus from a "strong-buy" rating to a "buy" rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $69.20.

Atlanticus Trading Up 6.2%

The stock has a market cap of $1.09 billion, a P/E ratio of 12.68 and a beta of 2.00. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.55. The company has a 50-day moving average price of $58.95 and a two-hundred day moving average price of $54.02.

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

Atlanticus Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 1st will be given a dividend of $0.4766 per share. This represents a $1.91 annualized dividend and a dividend yield of 2.6%.

Insider Buying and Selling at Atlanticus

In other news, Director Deal W. Hudson sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $62.39, for a total transaction of $124,780.00. Following the transaction, the director owned 61,092 shares of the company's stock, valued at approximately $3,811,529.88. The trade was a 3.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 51.80% of the company's stock.

Hedge Funds Weigh In On Atlanticus

A number of large investors have recently bought and sold shares of ATLC. Jane Street Group LLC boosted its holdings in Atlanticus by 17.9% during the 4th quarter. Jane Street Group LLC now owns 10,540 shares of the credit services provider's stock valued at $588,000 after acquiring an additional 1,604 shares during the period. Bank of America Corp DE boosted its holdings in Atlanticus by 29.0% during 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 acquiring an additional 1,376 shares during the period. D. E. Shaw & Co. Inc. purchased a new position in Atlanticus during the 4th quarter valued at $548,000. Deutsche Bank AG boosted its holdings in Atlanticus by 35.4% during the 4th quarter. Deutsche Bank AG now owns 4,829 shares of the credit services provider's stock valued at $269,000 after acquiring an additional 1,262 shares during the period. Finally, Millennium Management LLC purchased a new position in Atlanticus during the 4th quarter valued at $987,000. Hedge funds and other institutional investors own 14.15% of the company's stock.

About Atlanticus

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.