Atlanticus (NASDAQ:ATLC) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Atlanticus has been upgraded from a "buy" to a "strong-buy" rating by Wall Street Zen, indicating increased analyst confidence in the stock.
• B. Riley raised its target price for Atlanticus shares from $70 to $90, reflecting a bullish outlook, while other analysts also set higher target prices.
• The company reported $1.51 earnings per share in its last earnings release, surpassing analysts' expectations and highlighting strong financial performance.

Atlanticus (NASDAQ:ATLC - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued on Friday.

Other research analysts also recently issued reports about the company. B. Riley lifted their target price on Atlanticus from $70.00 to $90.00 and gave the company a "buy" rating in a research note on Monday, September 15th. BTIG Research reiterated a "buy" rating and issued a $84.00 target price on shares of Atlanticus in a research note on Thursday, September 11th. Citigroup reiterated an "outperform" rating on shares of Atlanticus in a research note on Thursday, September 18th. Finally, JMP Securities lifted their target price on Atlanticus from $78.00 to $95.00 and gave the company a "market outperform" rating in a research note on Thursday, September 18th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.60.

Atlanticus Stock Performance

NASDAQ:ATLC traded down $1.15 during mid-day trading on Friday, reaching $63.38. 53,566 shares of the stock were exchanged, compared to its average volume of 63,839. The company has a 50 day simple moving average of $61.79 and a 200-day simple moving average of $55.44. The stock has a market capitalization of $958.31 million, a P/E ratio of 11.14 and a beta of 2.00. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.55. Atlanticus has a 1 year low of $33.41 and a 1 year high of $78.91.

Atlanticus (NASDAQ:ATLC - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The credit services provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. Analysts anticipate that Atlanticus will post 4.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Atlanticus news, Director Deal W. Hudson sold 2,000 shares of the business's stock in a transaction 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 sale, the director directly owned 61,092 shares in the company, valued at approximately $3,811,529.88. The trade was a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 50.40% of the company's stock.

Institutional Investors Weigh In On Atlanticus

A number of institutional investors have recently added to or reduced their stakes in the company. New York State Teachers Retirement System grew its position in Atlanticus by 151.5% during the second quarter. New York State Teachers Retirement System now owns 503 shares of the credit services provider's stock valued at $28,000 after acquiring an additional 303 shares during the period. Quantbot Technologies LP boosted its position in shares of Atlanticus by 19.3% in the first quarter. Quantbot Technologies LP now owns 3,152 shares of the credit services provider's stock worth $161,000 after buying an additional 509 shares during the period. Jump Financial LLC boosted its position in shares of Atlanticus by 6.1% in the second quarter. Jump Financial LLC now owns 9,344 shares of the credit services provider's stock worth $512,000 after buying an additional 537 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Atlanticus by 3.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 15,751 shares of the credit services provider's stock worth $806,000 after buying an additional 561 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Atlanticus by 1.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 82,629 shares of the credit services provider's stock worth $4,524,000 after buying an additional 982 shares during the period. Hedge funds and other institutional investors own 14.15% of the company's stock.

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.

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