JMP Securities Forecasts Strong Price Appreciation for Atlanticus (NASDAQ:ATLC) Stock

Atlanticus (NASDAQ:ATLC - Free Report) had its price target hoisted by JMP Securities from $72.00 to $75.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a market outperform rating on the credit services provider's stock.

A number of other brokerages also recently weighed in on ATLC. Wall Street Zen downgraded shares of Atlanticus from a "strong-buy" rating to a "buy" rating in a report on Friday, May 9th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $60.00 target price (up from $52.00) on shares of Atlanticus in a research note on Monday, May 12th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $62.60.

Atlanticus Stock Up 1.5%

NASDAQ ATLC traded up $0.80 on Thursday, reaching $53.40. The company had a trading volume of 47,494 shares, compared to its average volume of 45,708. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.57. The company's fifty day moving average is $52.60 and its 200 day moving average is $53.50. Atlanticus has a 52-week low of $25.44 and a 52-week high of $64.70. The stock has a market capitalization of $807.94 million, a P/E ratio of 10.33 and a beta of 1.83.

Atlanticus (NASDAQ:ATLC - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The credit services provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.16. Atlanticus had a net margin of 8.54% and a return on equity of 24.51%. The business had revenue of $344.87 million for the quarter, compared to analysts' expectations of $347.24 million. Sell-side analysts anticipate that Atlanticus will post 4.49 earnings per share for the current fiscal year.

Institutional Trading of Atlanticus

A number of hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its position in Atlanticus by 229.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 728 shares of the credit services provider's stock valued at $41,000 after purchasing an additional 507 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Atlanticus during the 1st quarter valued at about $56,000. Jones Financial Companies Lllp purchased a new position in shares of Atlanticus during the 1st quarter valued at about $71,000. US Bancorp DE bought a new stake in Atlanticus in the 1st quarter worth approximately $74,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Atlanticus in the second quarter worth approximately $106,000. 14.15% of the stock is owned by institutional investors.

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.